Does having six new cards in the past year considered a lot?

[Christina_xyt]

Have been seeing people around talking about their limits got slashed or cards got closed due to too many new openings and too many available credit..

This made me a little concerned..

I have 6 accounts opened in the 2014 including the mini app spree I have done a week and two or so.. now that except the barclay card, the other two havent been reported yet.. but I am not sure what will happen when they do..

Do you guys think having 6 new accounts in the past year is a lot? 3 of them are about six months ago.. one of them is just a store card..

[Anonymous]

I am in the practically the same exact situation as you and would like to know as well.

[longtimelurker]

---

@Christina_xyt wrote:

Have been seeing people around talking about their limits got slashed or cards got closed due to too many new openings and too many available credit..

This made me a little concerned..

I have 6 accounts opened in the 2014 including the mini app spree I have done a week and two or so.. now that except the barclay card, the other two havent been reported yet.. but I am not sure what will happen when they do..

Do you guys think having 6 new accounts in the past year is a lot? 3 of them are about six months ago.. one of them is just a store card..

---

Depends on who is looking (which issuer) and the general credit picture.

Getting new accounts in itself isn't necessarily bad from the bank's view.  The question is "Does the customer appear to be seeking a lot of credit because of some (maybe upcoming) problem?"   So if scores start to drop, balances rise, and especially late payments, the credit seeking starts looking more undesirable from the banks' view.    With good credit records, and no appararent issues, people are able to get much more than 6 in a year without any problems from existing lenders.

[mikelo22]

I don't think there's so much reason to be alarmed really. I have also opened 6 new accounts in the last 6 months. Sure, there is higher risk, but as with the AMEX FR hysteria, I think it's overblown. I'd just cool it for a while, use your credit responsibly, and you shouldn't give reason to necessitate AA.

[Christina_xyt]

---

@Anonymous wrote:

I am in the practically the same exact situation as you and would like to know as well.

---

i still can't belive when i am looking at your chart with all the high limit cards but then a freedom 400 ... 

[Christina_xyt]

---

@longtimelurker wrote:

---

@Christina_xyt wrote:

Have been seeing people around talking about their limits got slashed or cards got closed due to too many new openings and too many available credit..

This made me a little concerned..

I have 6 accounts opened in the 2014 including the mini app spree I have done a week and two or so.. now that except the barclay card, the other two havent been reported yet.. but I am not sure what will happen when they do..

Do you guys think having 6 new accounts in the past year is a lot? 3 of them are about six months ago.. one of them is just a store card..

---

Depends on who is looking (which issuer) and the general credit picture.

Getting new accounts in itself isn't necessarily bad from the bank's view.  The question is "Does the customer appear to be seeking a lot of credit because of some (maybe upcoming) problem?"   So if scores start to drop, balances rise, and especially late payments, the credit seeking starts looking more undesirable from the banks' view.    With good credit records, and no appararent issues, people are able to get much more than 6 in a year without any problems from existing lenders.

---

among all the lenders, i wouldn't worry about boa or fia i guess..

maybe barclay concerns me the most?? but both of their cards were opened this year. so i am not sure.. 

[coldnmn]

The ones that post CLDs may not be sharing their whole credit picture. It maybe time to check yourself into the garden club rehab for awhile. So you can get some positive reporting on you new credit cards to be safe.

[Involver]

Currently at 16 with no problems.

[vanillabean]

---

@Christina_xyt wrote:
I have 6 accounts opened in the 2014 including the mini app spree I have done a week and two or so..

---

That's more than I have done my entire life.

[Anonymous]

---

@Christina_xyt wrote:

---

@Anonymous wrote:

I am in the practically the same exact situation as you and would like to know as well.

---

i still can't belive when i am looking at your chart with all the high limit cards but then a freedom 400 ... 

---

Yeah, it's killing me on the inside slowly. At least we got answers to our questions!