@napplegate wrote:I find a striking correlation between those with extremely high credit scores and the number of the cards they hold and those with lower scores. My parents both have 820+ scores (my mother's is right around 840, as a lender she has the ability to check without a hard pull) and they only have 2 cc's a piece. I plan on sockdrawering my BCE after getting it up to 25k limit and am only retaining my low limit US Bank card due to it being my oldest tradeline. Between my Chase cards using UR and my MR AMEX cards I can't see a need for any other cards.
1. 2 cards = probably had open for a long time. AAOA is the strongest factor keeping people's scores under 800 (average age of accounts) and the chances are your mother also has a LONG old mortgage account under her name and a few car loans as well. This will create great diversity and add to a nice age to make a nice score.
2. Scores above 720+ is considered prime to majority of lenders, 760+ to few lenders but that just means you can take your business elsewhere. Regardless anything past 760 is just to flex your Fico online in credit forums cause honestly no one else would really care outside of credit forums. Personally I rather get benefits and bonuses of multiple cards, make a few new accounts every once in a while and take the rewards for a nice vacation to save me a lot of money and show off my pictures to Bora Bora instead of flexing a 820 score. but that's just me 
@scottwagnon wrote:i just recently opened my first FSB Elan card, for the 150 cash back bonus for the first purchase. i know its crazy. i currently carry 13 major and 4 store accounts. crazy, i know, but i want it for the extra income.
for $150? man you can be bought for a meager $150? Why don't you get something like a Chase Ink, Chase Sapphire, Citi Preferred, Amex Premier Gold etc these are cards you can get with over 40-50k + and you can cash out for $500 statement credit. $150 isn't worth it imo RELAX
also chances are if your living on your own, get a Chase Ink, anyone can get it even though it's a business card. Internet Cable phonebill and cellphone bills ALONE will save you minimum of $180 a year ($300 spending month) The card saves me over $3,000 annually... yes 3k
@distantarray wrote:
@scottwagnon wrote:i just recently opened my first FSB Elan card, for the 150 cash back bonus for the first purchase. i know its crazy. i currently carry 13 major and 4 store accounts. crazy, i know, but i want it for the extra income.
for $150? man you can be bought for a meager $150? Why don't you get something like a Chase Ink, Chase Sapphire, Citi Preferred, Amex Premier Gold etc these are cards you can get with over 40-50k + and you can cash out for $500 statement credit. $150 isn't worth it imo RELAX
also chances are if your living on your own, get a Chase Ink, anyone can get it even though it's a business card. Internet Cable phonebill and cellphone bills ALONE will save you minimum of $180 a year ($300 spending month) The card saves me over $3,000 annually... yes 3k
i have this thing where i don't want to add accounts to major banks. (i feel guilty about having an account with citi, bank of america, and chase) these banks should be shut down for the crimes they have committed.) i get preapproved for all of their no af cards, but i am concerned with whom i am doing business with. so when i get some love from a bank that isn't a big time culprit for sinking our economy. i bite for the money. i don't own a business, so i will not open a business account for personal use.
i kind of wish i had never opened accounts with the big three. if i could go back, i wouldn't have opened these accounts; i hope i am not wrong for keeping them open.
