Credit Cards- How many is too many?

[xenon3030]

You should set some personal rules for yourself (cashback vs travel rewards, categories, PIF, etc) and be familar to the game plan and afterward, enjoy the game. Depending on where you are (early stage, thin vs thick credit profile, mortgage/autoloan plan), you should revise and update your rules and goals.

Currently, I have 2 CC per year rule and in this case, I always can apply for any Chase card. The only exception was the last year. I was gardening for ~1 year and after mortgate, I got 4 cards last year. In a few months, I become 4/24 again

[Gunnerboy]

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@increasingmyfico wrote:

I am looking to add a few more cards to my arsenal, but I want to be strategic about it. I don't want to apply for too many within a short time frame and throw up red flags. My question is how many is too many? My oldest are two that I opened in March of 2018. Last year I added three in OCT (Amex, Amex and Apple) and one (FNBO) in Dec. There are six more that I want. I was thinking maybe three this year and three next year. I just worry about red flags from accumulating credit too quickly. Especially seeing that FNBO can be sensitive. What do you experts think?

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@increasingmyfico was targeting six new cards for their portfolio, and wanted to know what timeframe should be used as to not alarm any lenders.

Nearly all the responses believe OP was asking for opinions on how large a collection is acceptable! 

My advice: Hold off until 2023 before applying for your next one.  If you can't wait that long, then how about six months after your FNBO for the next one?  Apply for the next two in December, or Jan 2023.  Basically, spread your apps out to one every 6+ months.

[SoCalGardener]

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@Gunnerboy wrote:

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@increasingmyfico was targeting six new cards for their portfolio, and wanted to know what timeframe should be used as to not alarm any lenders.

Nearly all the responses believe OP was asking for opinions on how large a collection is acceptable! 

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This is just a wild guess, of course, but perhaps it has something to do with their subject name?:

"Credit Cards- How many is too many?"

[Who_wuda_thought]

@Anonymous 

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Prosper MC AF is $39 CL is $3,000 it is an orange card. I needed an orange card to complete my collection so I had to pay for it LOL

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If you decide later you no longer wish to pay the $39 AF and still need an "orange" flavor card for your color palette, you might want to take a look at these options below.  Some of them are Elan cards, so there wouldn't likely be a geofence issue:

Incredible Bank

https://creditcardlearnmore.com/11t3/index?ecdma-lc=17297&ecid=OTHE_25940

Think Bank

https://creditcardlearnmore.com/11t3/index?ecdma-lc=27815&ecid=OTHE_25940

Meriwest Credit Union

https://online1.elancard.com/oad/begin?locationCode=20450&preparerType=customer

MidFirst Bank - Oklahoma State Cowboys (Pistol Pete)

https://www.midfirst.com/personal/midfirst-bank-cards/osu-cowboys

* ETA another Elan with orange in the design mix:

Spectra Credit Union

https://creditcardlearnmore.com/11t3/index?ecdma-lc=29489&ecid=FI_28694

You mentioned purple cards in another post.  When I was looking into the Elan Max Cash FI options, I came across this one and thought it was quite eye pleasing:

First Midwest Bank

https://online1.elancard.com/oad/learnMoreCorrespondent.controller?locationCode=26029&offerId=V83BHD538D&preparerType=customer

This one is a rather unique design (lt. blue, lighthouse):

Liberty Bay Credit Union 

https://creditcardlearnmore.com/11t3/max-cash?ecdma-lc=22613&ecid=OTHE_25940

I'm unfortunately not in an income bracket to support a card collection hobby 😂

[PoggersSlayer]

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@Anonymous wrote:

I  have 91 open credit cards right now. All are active. I said I was going to stop at 48. It is a hobby for me. Like stamp collecting for others.

I do get CLI's often as well providing they are SP's as I have just over 100 inquries on my three reports combined

I would think some banks would do an AA as I  have so many cards but nope, I just keep getting more. But I only apply to banks that look the other way, so I avoid banks like Chase and US Bank etc, I have a few cards with them but those cards are decades old.

I also have 28 debit ATM or what ever you want to call them with Visa or MC logos, all active as well.

I am done but I say that all the time until a new CC comes out and I have to have it LOL.

I wish there was a credit card help group for people like me all I ever find is for drunks and drug users, sheesh

Thanks

Mark

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Do you put them in a binder like trading cards?

[kittycreditmeow]

@Anonymous 

I want to say that is the case for a lot of people here but not sure tbh. I notice a lot of people have 300,000+ in credit lines and don't use any of it so it makes me question why do you want credit or have credit if you don't plan to use it unless it's a hobby or something your passionate about, you know, just for the sake of having amazing credit and being proud of what you built. Nothing wrong with that at all. I don't think your alone in that, all these 700-800 clubs. I've always been extremely stupid with my credit but I've also lived this idea that you only apply for credit when you need it and then you use it and pay it off. So when I first came on this forum and saw all these people with so much available credit and then telling people not to use it at all or only use 10% of it, it makes me wonder why. I now realize why people only use 10% when building and the utilization and all that but again what is the ultimate goal for having so much credit? It definitely has to be a hobby or an addiction for a lot of people. Not saying it is for everyone but even me at my lowest, I'm fairly addicted to credit and making it better. 

[CreditExpressNJ]

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@Anonymous wrote:

I  have 91 open credit cards right now. All are active. I said I was going to stop at 48. It is a hobby for me. Like stamp collecting for others.

I do get CLI's often as well providing they are SP's as I have just over 100 inquries on my three reports combined

I would think some banks would do an AA as I  have so many cards but nope, I just keep getting more. But I only apply to banks that look the other way, so I avoid banks like Chase and US Bank etc, I have a few cards with them but those cards are decades old.

I also have 28 debit ATM or what ever you want to call them with Visa or MC logos, all active as well.

I am done but I say that all the time until a new CC comes out and I have to have it LOL.

I wish there was a credit card help group for people like me all I ever find is for drunks and drug users, sheesh

Thanks

Mark

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@Anonymous 

LOL you just gave me a huge laugh LOL literally had a real LOL moment.. I swear i was this same way my first time around before BK i thought I had a lot when i had 34 credit accounts LOL but you got me beat lol its definitely addictive.  I think BK being on my  report is humbling me but it is also teaching me restraint  til now I dont desire so many I just want a what i have now maybe 1 more just for utilization X1 or AOD or both but thats it after that. 

[okurosetta]

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@PoggersSlayer wrote:

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Do you put them in a binder like trading cards?

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Business card holders work great! Here's one that holds 120 credit cards.

I used one for a while, but lately my cards have been in semi-organized piles 

[expatCanuck]

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@Who_wuda_thought wrote:

@Anonymous 

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Prosper MC AF is $39 CL is $3,000 it is an orange card. I needed an orange card to complete my collection so I had to pay for it LOL

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If you decide later you no longer wish to pay the $39 AF and still need an "orange" flavor card for your color palette, you might want to take a look at these options below.  Some of them are Elan cards, so there wouldn't likely be a geofence issue:

Incredible Bank

https://creditcardlearnmore.com/11t3/index?ecdma-lc=17297&ecid=OTHE_25940

Think Bank

https://creditcardlearnmore.com/11t3/index?ecdma-lc=27815&ecid=OTHE_25940

Meriwest Credit Union

https://online1.elancard.com/oad/begin?locationCode=20450&preparerType=customer

MidFirst Bank - Oklahoma State Cowboys (Pistol Pete)

https://www.midfirst.com/personal/midfirst-bank-cards/osu-cowboys

* ETA another Elan with orange in the design mix:

Spectra Credit Union

https://creditcardlearnmore.com/11t3/index?ecdma-lc=29489&ecid=FI_28694

You mentioned purple cards in another post.  When I was looking into the Elan Max Cash FI options, I came across this one and thought it was quite eye pleasing:

First Midwest Bank

https://online1.elancard.com/oad/learnMoreCorrespondent.controller?locationCode=26029&offerId=V83BHD538D&preparerType=customer

This one is a rather unique design (lt. blue, lighthouse):

Liberty Bay Credit Union 

https://creditcardlearnmore.com/11t3/max-cash?ecdma-lc=22613&ecid=OTHE_25940

I'm unfortunately not in an income bracket to support a card collection hobby 😂

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Might the SavorOne be sufficiently 🍊?

[socalchef00]

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@Anonymous wrote:

I  have 91 open credit cards right now. All are active. I said I was going to stop at 48. It is a hobby for me. Like stamp collecting for others.

I do get CLI's often as well providing they are SP's as I have just over 100 inquries on my three reports combined

I would think some banks would do an AA as I  have so many cards but nope, I just keep getting more. But I only apply to banks that look the other way, so I avoid banks like Chase and US Bank etc, I have a few cards with them but those cards are decades old.

I also have 28 debit ATM or what ever you want to call them with Visa or MC logos, all active as well.

I am done but I say that all the time until a new CC comes out and I have to have it LOL.

I wish there was a credit card help group for people like me all I ever find is for drunks and drug users, sheesh

Thanks

Mark

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Wow, 91 open cards!