What's your AAoA at right now?
And yes, I'd garden what you had/just acquired. 4 cards in this economic climate is quite a bit, IMO.
Congrats on all the new cards. You have some good earning categories there.
Yes, the new cards penalty will hold back your score, so that offsets much of the score gain from utilization improvement.
The NASA card doesn't provide any unique rewards, and with all the other new cards, it seems to me it is time to work on ensuring you can properly manage a larger wallet.
More importantly, with the Discover, Apple, and Citi cards, you now have a long runway of SP CLI, once you build up history with each card. Even asking for a HP to increase the CSP in a year will be helpful in the long run.
@tristan75 wrote:Hello all,
I have been working to pay down credit card debt to get to sub 10% utilization. I was down to 20% then the comenity blue Nile card decided to discontinue itself taking 14k of my total credit limit and 0 balance with it pushing me back above 30%. I went a little silly today and got a Discover it for 5k limit, Apple Card for 9k, evergreen for 7.5k and citi custom cash for 10k. Now I will be quite close to 10% but my AAoA is going to nosedive. NASA credit union has a pre qualify offer at 15k that I didn't pull the trigger on. I have enough spend to keep them all active but not increase overall debt. Is my risk of opening any more too high here and I should just garden with that I have? I already had a chase preferred, Amex platinum and pnc rewards card as my core cards. I also have an Amex Marriott card. I appreciate any advice thank you
YES, you for sure need to garden for at least 6 months and better yet 12 months after 4 cards at one pop. I did the same 3 months ago (and have been growing tomatoes every since) and wish now I hadn't. Besides my AAoA dropping my FICO's also dropped by almost 50 pts as well. But they have since recovered about 30 of those points.
