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Credit Cards- How many is too many?

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FinStar
Moderator Emeritus

Re: Credit Cards- How many is too many?


@socalchef00 wrote:

@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 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


Wow, 91 open cards! 


And, some folks have more than that 🤷‍♂️ 

Message 41 of 45
socalchef00
Regular Contributor

Re: Credit Cards- How many is too many?


@FinStar wrote:

@socalchef00 wrote:

@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 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


Wow, 91 open cards! 


And, some folks have more than that 🤷‍♂️ 


Holy smokes!  And here I thought my 18 cards was alot!


TransUnion FicoScore 8 : 800 | EquiFax FicoScore 9 : 813 | Experian FicoScore 8 : 760
Total Credit Limit Of : $374,650 | Avg Cr Age : 6 Yrs., Oldest card : 18 years, Youngest card : 2 Month
Message 42 of 45
W261w261
Frequent Contributor

Re: Credit Cards- How many is too many?


@SouthJamaica wrote:

The only hard and fast rule is that if you go 12 months without adding anything new, you move up to a better scorecard and higher score.


I'm not real sure about this, but I thought that there are 4 dirty scorecards. The bottom 2 are for public records, + 2 others. In my case, with a CO, I have assumed I am in a dirty card until the CO ages out. 

Message 43 of 45
Duriel
Frequent Contributor

Re: Credit Cards- How many is too many?

Wow I thought my 15 cards was a lot (though it is still a lot in the timeframe I opened them). One or two of the myFICO scores mention number of revolving accounts as a negative. I have two for sure I want to axe soon but there's also more I want. It's so hard fighting this addiction 🥺😂. 


Message 44 of 45
MarkintheHV
Frequent Contributor

Re: Credit Cards- How many is too many?

I had over 30 last year.  Decided one day, I wanted to streamline my finances, so I closed everything but 3 (see siggy) and focused on the credit lines.  Overall happy with what I have, suits me fine, but, I would like to swap out my mastercard for a better one.  I had to quit my outdoors hobby due to injury, so REI really doesnt do anything for me, but US Bank will not do a PC for me.

 

I am very content with my high(er) CL cards even if its only 3 Smiley Happy

What's in my wallet?
NFCU Flagship - $80k | Citi AA Executive - $31k | AmEx Delta Platinum - 25k | AmEx Delta Reserve Biz - 60k
Message 45 of 45
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