cancel
Showing results for 
Search instead for 
Did you mean: 

Addicted and dont know when to stop!!!!

Credittony
Established Member

Addicted and dont know when to stop!!!!

In 6 months i have open 17 new accounts. 2 of them are store cards. This past 5 days, I was approved for an amex bce, amex hilton and Chase disney. Now I wanna apply for Chase amazon. I just don't know when to quit. All 3 agencies have over 40 ins.
Message 1 of 19
18 REPLIES 18
myjourney
Super Contributor

Re: Addicted and dont know when to stop!!!!

Congrats 

 

And heck don't worry about stopping if you're addicted plow straight ahead full throttle 

The system is setup to bring you to a screeching halt at some point

Just avoid the steel reinforced brick wall when the brakes lock up (denials) 

Lol Smiley Very HappySmiley Very HappySmiley Tongue

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 19
wanderingbuilder
Valued Contributor

Re: Addicted and dont know when to stop!!!!


@Credittony wrote:
In 6 months i have open 17 new accounts. 2 of them are store cards. This past 5 days, I was approved for an amex bce, amex hilton and Chase disney. Now I wanna apply for Chase amazon. I just don't know when to quit. All 3 agencies have over 40 ins.

I totally understand the thrill of applying, and feeling of being approved but eventually you will start getting denials.

 

were I in your shoes now, I would step back for a moment and think do you actually have any use for the cards? I opened 18 over the last year and a half, but eventually found that I really only end up using about 5 or 6 of them regularly, and maybe another 3-4 for various quarters.

 

Now I am sitting on 8-9 cards that I really don't need and would much prefer to have their limits added to the cards I want to use and keep.

Message 3 of 19
jfriend33
Senior Contributor

Re: Addicted and dont know when to stop!!!!


@Credittony wrote:
In 6 months i have open 17 new accounts. 2 of them are store cards. This past 5 days, I was approved for an amex bce, amex hilton and Chase disney. Now I wanna apply for Chase amazon. I just don't know when to quit. All 3 agencies have over 40 ins.

hope you got 75k hhonors points for the no AF fee amex as that is what the highest offer is.  hope you got 200+250 on the BCE, and not just 200+100.  Chase amazon is a quirky card. They have been very good to my family offering 0% 1% or 2% BTs beyond 12 months (usually 15+).  Rewards on the card are dismal.

 

I would try to focus on diversity.  Get in with a good credit union that has a high yield checking account offer and also has a single digit fixed apr visa/mc with no bt or cash advance fees. Not hard to find if you do the research.

 

What are your scores? Get anything from bank of america? If you are at 700+ get the merrill lynch $500 offer and then garden for a while. 17 new accounts in 6 months is quite a bit but if you stop now they will age nicely.  

 

What limits did amex give you? What about APRs?  If they aren't insanely high then that is good.

EQ 730, TU 730, EX 720. INQs EQ-1, TU-9, EX-7 AAOA 4yrs Util 6% Inspiration: Themanwhocan's Cash Back Charts
Message 4 of 19
Sebastian503
Established Contributor

Addicted . . . when to stop ?

Credittony,

 

From reading some of your other posts, it is my understanding that:

 

"I'm not here to just to get cards but to help with medical expense"

 

If that is the case, stopping is a Red Herring.

 

What dollar amount do you need to cover the Medical Expense? 

 

More importantly, How do you plan to pay for the medical expense you will be putting on credit?

 

So as you see, Stopping is Easy, if they have to close the cards due to non or little payment.

 

Best Wishes ! ! !

.

05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good
Message 5 of 19
pizza1
Community Leader
Super Contributor

Re: Addicted and dont know when to stop!!!!


@myjourney wrote:

Congrats 

 

And heck don't worry about stopping if you're addicted plow straight ahead full throttle 

The system is setup to bring you to a screeching halt at some point

Just avoid the steel reinforced brick wall when the brakes lock up (denials) 

Lol Smiley Very HappySmiley Very HappySmiley Tongue


LMAO!!! 

 

So true my friend, so true!!! 

 

One way or another, it always comes to a halt!! LOLOL Smiley Wink


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 6 of 19
pizza1
Community Leader
Super Contributor

Re: Addicted and dont know when to stop!!!!


@Credittony wrote:
In 6 months i have open 17 new accounts. 2 of them are store cards. This past 5 days, I was approved for an amex bce, amex hilton and Chase disney. Now I wanna apply for Chase amazon. I just don't know when to quit. All 3 agencies have over 40 ins.

Thats it?? pffftt! Ameteur! Smiley Wink


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 7 of 19
elim
Senior Contributor

Re: Addicted and dont know when to stop!!!!

Spend this year, Suffer paying next year, Travel with the rewards the year after. Those look like the learning seasons to come.

 

get good at tracking statement dates and using CC's in general... or else!   GL    :]

 

https://docs.google.com/spreadsheets/d/1g-0jBGOGleCg0-AcPKfmRSQQVSYzBG3XwLpn42DtuEQ/edit#gid=0

Message 8 of 19
AJE1
Valued Member

Re: Addicted and dont know when to stop!!!!

I believe most of us been there and done that till you hit the wall. .enjoy it whole it last and get to the garden afterwards. ..
Congrats. .!!!
Message 9 of 19
donny10
Senior Contributor

Re: Addicted and dont know when to stop!!!!

Congratulations!

 

I can see AA coming down the line on that long black train.

Message 10 of 19
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.