20 cards in 9 months.... What I learned....

[Larsim]

Wow, looks like Merrick was popular today kkkk.... As I mentioned before I was totally oblivious to the credit card game and honestly don't remember how/where/why I got that Merrick card. I can see and understand the points being debated here but I don't see/haven't felt it *yet* how having it on my CR is hurting either me or my wife so until A) I see that it becomes a liability and/or B) Merrick starts charging an AF or does way with the free TU FICO, it stays as the odd child.

[Larsim]

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@ChessChik47 wrote:

OP,  do you mind sharing the starting limits you received on the cards?  A range is fine, if you don't want to be specific on each of them.

Thanks!

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Yea sure, here it goes. Not pictured here are the two new personal cards and the business cards:

- Amex Cash Magnet                       SL $1,000

- Apple Card                                      Mine $7,000, wife's $6,000. For whatever reason I found out you can't put an AU user on the Apple Card. 

- Chase Ink                                        SL $23,000 (Chase auto increased to $33,000)

- Blue Cash Business                      SL  $2,000 (haven't requested a CLI yet)

- SimplyCash                                    SL $13,500 (haven't requested a CLI yet)

[FieryDance]

I thought I was the only one doing non work related spread sheets for fun!  

[Larsim]

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@AverageJoesCredit wrote:
Im curious how many of these 20 cards were for Op and how many were for Dear Wife. There is a huge difference in getting 20 ccs in 9 months than 10 or 9 since he mentioned he was criss crossing.


All @BronzeTrader not everyone aims for a CSR, i couldnt qualify for one even if i tried or was 0/24. Nor would i want /need one. Not everyones credit goal is to obtain a Chase card or a premium card. Just an alternate view

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Ask and you shall receive! You will notice there are two BB&T cards as BB&T was giving cards away without a HP so I picked a Spectrum Cash Rewards under her name and a Travel Rewards under my name later.

[Anonymous]

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@Anonymous wrote:

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Yeah, just saying when you have good cards with decent limits and a subprime with a lower limit, it just doesn't seem to fit  if you can get a Merrick card with a 20K CL, that's great but I don't think they have lines that large.

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IMO it has nothing to do with whether or not it's a "fit" for a profile; No doubt it isn't.  I'm only talking about future positive AAoA/AoOA impact and nothing more.  I'd say these factors are probably considered the most on this forum by members that are considering closing a card that they see little to no value in any longer.

[Larsim]

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@Anonymous wrote:

If it were me though, i would rather stagger them out. Just in case most of them get close between now and whenever. Having 10 CC age at the same time versus 5 now, and 5 about 5 years later. I wouldn't want to hurt AAoA up front for a goal 20 years from now that's unsure.

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Agree in part with your analysis. The reason I don't agree completely is now that I have found this forum and understand the credit card game I think it will be really difficult for me to go a long time (3 months ) without applying or accepting a new card. I mean, just TODAY I log on to the Amex portal to see a huge banner on top, clicked on it.... oh boy, someone please cuttof my internet and take my mouse away 

[Larsim]

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@FieryDance wrote:

I thought I was the only one doing non work related spread sheets for fun!  

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Kkk, very true....

[Anonymous]

So if we all banded together and AU'd each other then proceeded to Mega App Spree would we break the system?

[Anonymous]

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@Larsim wrote:

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@Anonymous wrote:

If it were me though, i would rather stagger them out. Just in case most of them get close between now and whenever. Having 10 CC age at the same time versus 5 now, and 5 about 5 years later. I wouldn't want to hurt AAoA up front for a goal 20 years from now that's unsure.

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Agree in part with your analysis. The reason I don't agree completely is now that I have found this forum and understand the credit card game I think it will be really difficult for me to go a long time (3 months ) without applying or accepting a new card. I mean, just TODAY I log on to the Amex portal to see a huge banner on top, clicked on it.... oh boy, someone please cuttof my internet and take my mouse away 

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I have to ask because I know others are thinking the same thing... Is that your name on the card image?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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Yeah, just saying when you have good cards with decent limits and a subprime with a lower limit, it just doesn't seem to fit  if you can get a Merrick card with a 20K CL, that's great but I don't think they have lines that large.

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IMO it has nothing to do with whether or not it's a "fit" for a profile; No doubt it isn't.  I'm only talking about future positive AAoA/AoOA impact and nothing more.  I'd say these factors are probably considered the most on this forum by members that are considering closing a card that they see little to no value in any longer.

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Once your history gets long, AAoA doesn't really impact your score as much if you close a card. I wouldn't keep a Merrick with a 2K limit when I have rewards cards with much higher limits.

With my history, I don't care about HPs either. Might drop my score 1 or 2 pts.

Obviously, without a long history, that would not be the case. But over time, we all get long histories.