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6 new accounts within 2 months---Should I be worried?

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JSS3
Valued Contributor

6 new accounts within 2 months---Should I be worried?

Just saw another thread of someone speaking on their account closing because he/she opened too many accounts shortly after that now(closed) account was opened. What suprised me was this wasn't Barclay! From the months of Aug-Sept, I acquired six new TLs. Discover, Citi, Chase Slate, Chase Amazon, Victoria Secrets, and Paypal Extras. Is that too much, too soon? My AAoA was 6months. It's less now because Citi and Vicky Secrets just reported. Should I be worried that one of these companies will check up on me in a month or so(when all report) and immediately close my account? I'd hate for this to happen. I would hope that they'll see me fulfilling my obligations to each of their companies, but I guess they have the right to do whatever they want. The companies that I currently have are the ones I wanted to get in the door with, and more importantly, grow with. If I never got another credit card, I'd be perfectly happy with all I have. I guess this is the downside of sprees. The funny thing is the anxiety is lifted once you receive the card in the mail. It's then you "feel" like there will be no changes. I mean, even approvals get overturned and vice-versa. Before then, you pray you'll get an approval. Then you have to see that message saying your card has been shipped to feel it's somewhat real. Lastly, you have to actually receive the card in your hand. Kinda worried. I'd hate to lose my babies. 

 

I'm also wondering if it's just, "You've opened too many accounts in a short amount of time" OR "You've opened too many accounts and have too much available credit" If the latter is the case, then I'm somewhat hopeful since that's not my situation.

Message 1 of 10
9 REPLIES 9
Cleanmachine
Frequent Contributor

Re: 6 new accounts within 2 months---Should I be worried?

I personally have over 15 credit cards and it has not hurt me one bit.

 

My FICO Scores have been over the 780 mark.

 

Don't sweat the small stuff.

Message 2 of 10
myjourney
Super Contributor

Re: 6 new accounts within 2 months---Should I be worried?

IMHO you will be fine you have started gardening and as long as you don't make any new apps and continue aging accounts,AAoA,INQ's no problem

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 3 of 10
DigitalArk
Valued Contributor

Re: 6 new accounts within 2 months---Should I be worried?

I am in the same boat as OP. I acquired 6 new accounts within 2 months and 5 of them were new trade lines. Smiley LOL

Message 4 of 10
JSS3
Valued Contributor

Re: 6 new accounts within 2 months---Should I be worried?

Thanks all! I feel so much better. I don't plan on applying for any more cards until next year...maybe later than that! The thrill has subsided. 

Message 5 of 10
snowkitty
Established Contributor

Re: 6 new accounts within 2 months---Should I be worried?

I think your fine. All the cards in my sig have been opened in the last 12 months. About 6 of them were in the same 30 days. I worried myself to death and luckily nothing happened (knock on wood) lol
TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Message 6 of 10
09Lexie
Moderator Emerita

Re: 6 new accounts within 2 months---Should I be worried?

Just keep your util in check and pay more than the min or PIF. I have opened 6 TLs in a month,m4-6 in 2 mos and I have the cards you've listed. Of course, YMMV
Message 7 of 10
JSS3
Valued Contributor

Re: 6 new accounts within 2 months---Should I be worried?

Yes, I always make sure to either pay in full or no less than $100. Smiley Happy

 

ETA: Util is at 10%.

Message 8 of 10
09Lexie
Moderator Emerita

Re: 6 new accounts within 2 months---Should I be worried?

Message 9 of 10
stevenngu92
Contributor

Re: 6 new accounts within 2 months---Should I be worried?

Like everyone says, you'll be fine. You should only worry if those 6 new accounts were all from GE which in this case they aren't.

Amazon Store Card ($6000) Amex BCE ($10000) Amex PRG (NPSL) BofA Better Balance Rewards ($3000) Best Buy Store Card ($5000) Chase Freedom ($2500) Chase Sapphire Preferred ($7900) Citi Prestige ($5000) Discover It ($10500) Walmart Discover ($6000) Wells Fargo CB ($4700)
Message 10 of 10
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