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Credit Cards- How many is too many?

increasingmyfico
Regular Contributor

Credit Cards- How many is too many?

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?


Message 1 of 45
44 REPLIES 44
tcbofade
Community Leader
Super Contributor

Re: Credit Cards- How many is too many?

I have 35.

 

DW has 31.

 

We have ten joint accounts.

 

That's 76 active credit card accounts.

 

FNBO didn't seem all that sensitive to us.

 

Citi, Chase, USBank, and many others ARE very sensitive to new accounts.

 

The total number isn't the issue, it's how many you've opened in whatever time frame.

 

If USBank is on your wish list, you want to be 12 months free of new credit card accounts as a general rule.

 

Chase has a 5/24 rule which usually applies, but not always.

 

Citi has a six month look back window, but I don't recall what "too many" is for them.

 

Research the lenders that you wish to apply with, and apply for the sensitive ones first, IMHO.

 

Good luck!

06/01/22 Fico 8: EX 746, EQ 768, TU 763.
06/06/22 Fico 9: EX 735, EQ 765, TU No idea.

Zero percent financing is where the devil lives...
Message 2 of 45
increasingmyfico
Regular Contributor

Re: Credit Cards- How many is too many?


@tcbofade wrote:

I have 35.

 

DW has 31.

 

We have ten joint accounts.

 

That's 76 active credit card accounts.

 

FNBO didn't seem all that sensitive to us.

 

Citi, Chase, USBank, and many others ARE very sensitive to new accounts.

 

The total number isn't the issue, it's how many you've opened in whatever time frame.

 

If USBank is on your wish list, you want to be 12 months free of new credit card accounts as a general rule.

 

Chase has a 5/24 rule which usually applies, but not always.

 

Citi has a six month look back window, but I don't recall what "too many" is for them.

 

Research the lenders that you wish to apply with, and apply for the sensitive ones first, IMHO.

 

Good luck!


I definitely want the Sapphire Preffered so that is definetely next. I know they soft pull for a few weeks afterwards. I say FNBO is sensitive because I have seen a few posts about them closing accounts without warning. thanks


Message 3 of 45
dragontears
Senior Contributor

Re: Credit Cards- How many is too many?


@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?


How risk tolerant are you? 

If you want to be conservative, 1 card every 6 months.

I am a fan of the "tortoise" path for credit building but some prefer the "hare" path and go as fast as possible until the low limits/denials bury them in the garden. 

Message 4 of 45
Kforce
Valued Contributor

Re: Credit Cards- How many is too many?


@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?


The super safe answer = 1 a year

Only a few creditors will worry about two.

YMMV with 3 or more.

 

Get the sensitive issuer card 1st, research others and make a best guess.

 

Good Luck, go slow, think about what you really need   Smiley LOL

Message 5 of 45
mark3038
Established Contributor

Re: Credit Cards- How many is too many?

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 combinedSmiley Surprised

 

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

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 6 of 45
AverageJoesCredit
Legendary Contributor

Re: Credit Cards- How many is too many?

Too many is subjective to each person. A more established profile can handle multiple cc in a short time better than a newish profile but as stated upthread, each lender is different. Throw enough mud and something is bound to stick but if you want to get each card on your wish list make proper preperations to meet each lenders requirements. 

Message 7 of 45
AverageJoesCredit
Legendary Contributor

Re: Credit Cards- How many is too many?


@tcbofade wrote:

I have 35.

 

DW has 31.

 

We have ten joint accounts.

 

That's 76 active credit card accounts.

 

FNBO didn't seem all that sensitive to us.

 

Citi, Chase, USBank, and many others ARE very sensitive to new accounts.

 

The total number isn't the issue, it's how many you've opened in whatever time frame.

 

If USBank is on your wish list, you want to be 12 months free of new credit card accounts as a general rule.

 

Chase has a 5/24 rule which usually applies, but not always.

 

Citi has a six month look back window, but I don't recall what "too many" is for them.

 

Research the lenders that you wish to apply with, and apply for the sensitive ones first, IMHO.

 

Good luck!


Did someone say 76?😆

Message 8 of 45
mark3038
Established Contributor

Re: Credit Cards- How many is too many?


@AverageJoesCredit wrote:

@tcbofade wrote:

I have 35.

 

DW has 31.

 

We have ten joint accounts.

 

That's 76 active credit card accounts.

 

FNBO didn't seem all that sensitive to us.

 

Citi, Chase, USBank, and many others ARE very sensitive to new accounts.

 

The total number isn't the issue, it's how many you've opened in whatever time frame.

 

If USBank is on your wish list, you want to be 12 months free of new credit card accounts as a general rule.

 

Chase has a 5/24 rule which usually applies, but not always.

 

Citi has a six month look back window, but I don't recall what "too many" is for them.

 

Research the lenders that you wish to apply with, and apply for the sensitive ones first, IMHO.

 

Good luck!


Did someone say 76?😆


76 is a beginner LOL

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 9 of 45
tcbofade
Community Leader
Super Contributor

Re: Credit Cards- How many is too many?


@dragontears wrote:

@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?


How risk tolerant are you? 

If you want to be conservative, 1 card every 6 months.

I am a fan of the "tortoise" path for credit building but some prefer the "hare" path and go as fast as possible until the low limits/denials bury them in the garden. 


...and some find that out the hard way....  Smiley Embarassed

06/01/22 Fico 8: EX 746, EQ 768, TU 763.
06/06/22 Fico 9: EX 735, EQ 765, TU No idea.

Zero percent financing is where the devil lives...
Message 10 of 45
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