Am i on the right track?

Anonymous · ‎11-18-2014

I have 12 credit cards some are store cards but most of them are credit cards. I am 24 And all my avaliable credit limits are 35,500. I also have a car loan and mortgage My scores are EQ 678 TU 714 EX 687 My question is am i on the right track?

Anonymous · ‎11-18-2014

@Anonymous wrote:
I have 12 credit cards some are store cards but most of them are credit cards. I am 24 And all my avaliable credit limits are 35,500. I also have a car loan and mortgage My scores are EQ 678 TU 714 EX 687 My question is am i on the right track?

Score looks like you might have had some lates/derogs in the past. That or a pattern of extremely high utilization.

You seem to be doing okay though.

Anonymous · ‎11-18-2014

No lates i have one medical bill in colletions and my utilization was pretty high at one point. Would it hurt if i open more credit cards? I really want to just open 1 card with a high limit and transfer what i owe on to it but everytime i open a new card they only give me a $1k limit. Any ideas?

Kostya1992 · ‎11-18-2014

Seems like you're doing fine. That collection is hurting you though, try to goodwill it or something?

TU08 FICO	850
EX08 FICO	850
EQ08 FICO	850

Anonymous · ‎11-18-2014

Thanks! Not sure what u mean buy goodwill it?

NRB525 · ‎11-18-2014

@Anonymous wrote:
No lates i have one medical bill in colletions and my utilization was pretty high at one point. Would it hurt if i open more credit cards? I really want to just open 1 card with a high limit and transfer what i owe on to it but everytime i open a new card they only give me a $1k limit. Any ideas?

Which cards and what limit on each card? Certain types of cards might be open to CLI if you have a good history with them.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎11-18-2014

I going to disagree with everyone. You are on the wrong track. This is how people end up overextended. You should learn to use your credit limit and pif, not seek additional credit to move debt over.

Sometimes you have to learn to garden.

Anonymous · ‎11-18-2014

CAP ONE $4,000
DARDENEMPFCU $4,700
CITI $2,600
CAP ONE $4,000
SYNCB/AMAZON $3,400
Best Buy $1,100
SYNCB/CARECR $2,000
SYNCB/ABCWH $3,500
CHASE $1,000
CHASE $1,000
KAY JEWELERS $3,900
Walmart Visa $6,000

Anonymous · ‎11-18-2014

@Anonymous wrote:
CAP ONE $4,000
DARDENEMPFCU $4,700
CITI $2,600
CAP ONE $4,000
SYNCB/AMAZON $3,400
Best Buy $1,100
SYNCB/CARECR $2,000
SYNCB/ABCWH $3,500
CHASE $1,000
CHASE $1,000
KAY JEWELERS $3,900
Walmart Visa $6,000

Half your cards are store cards. If you aren't using these often then it might be a great idea to cut ties with them.

46% of your limits are from cards you can use about anywhere. 54% of your limits are on cards that are very limited in their use.

Anonymous · ‎11-18-2014

Would it be best for me to close the cards or should i let them close themselfs?