Help please

[Anonymous]

How many credit cards does it take for an issuer to close accounts if utilization is very low and you have 3 new accounts with about 5 new inquiries. Should I be concerned for losing my other accounts?

[laboi_22]

Depends on the lender. Who are you concerned about?

I would be concerned with Amex and Barclays. They are well known for adverse action (AA) for new accounts. Otherwise I wouldn't worry much. It's not like you opened that much.

[Anonymous]

I just opened Barclay, chase freedom, cap1 and I forgot about Amex a month ago

[laboi_22]

Just quit applying for new credit. You should be fine. Barclay doesn't like any new apps within the first 6 months of opening an account with them. They will either close your account or sometimes they will decrease your line of credit. AMEX can always do FR if you push your luck with them too much.

[LS2982]

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@Anonymous wrote:
How many credit cards does it take for an issuer to close accounts if utilization is very low and you have 3 new accounts with about 5 new inquiries. Should I be concerned for losing my other accounts?

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If your responsible with your cards and low util., I would say no more than 4 new INQ's/Accounts at a 6 month time period.

[webhopper]

i think you're fine, just don't show heavy utilization right off the bat...  PIF before statement cuts, that way you're in the clear if they start doing Account Reviews