How long should I wait until next CC application if I would like to have as many cards as possible?

[kdm31091]

Don’t collect cards just for the sake of it. There are diminishing returns in terms of credit boost and also rewards the more cards you add. I think for everyday spending most people should focus on using 1-3 cards to reap the most benefit. Beyond that you just lose a lot of the benefit because it is so diluted.

Also lenders aren’t taking kindly to aggressive credit seeking lately so tread lightly. Most consumers don’t open many new cards. You don’t want to stick out.

[UpperNwGuy]

The fact that you even asked this question worries me.

[Anonymous]

I'm sure you are a stand up person, but the credit card issuers may not see your behavior that way. I mean, if I were an issuer and saw someone opening 9 cards in one year with only 1% utilization, my ears would perk up.

Again, not saying this is you, but that pattern is exactly what happened to my cousin when her identity was stolen. Someone was opening cards, and keeping them in good standing until they had a large enough balance to really rack up. CC issuers are pretty wary of things like that now. I'd just hold off for a year or so.

Unrelated end to story- My cousin caught the fraud at Macy's one day when she went to open a card and found her SS# was already linked to one. Weirdly they wouldn't let her access or close it because it wasn't her signature, and back then police really didn't investigate that sort of thing much. When the lady doing it was caught it turned out she had 9 cards in my cousin's name, and dozens of others from different people. They were found in her car after she crashed during a police chase.

[Kforce]

My credit card collection.

30 years after the first.

[Remedios]

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@Kforce wrote:

My credit card collection.

30 years after the first.

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Slacker! 

[AverageJoesCredit]

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@Kforce wrote:

My credit card collection.

30 years after the first.

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Point?

[Pikaboo-icu]

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@Anonymous wrote:

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@Anonymous wrote:

Hi, I have applied around 9 credit cards last year, around 1 card monthly. I put one month between each application. Since I will be moving soon, I think it will be harder for my future card applications because credit card companies are sensitive to address change(I guess?). So I just want to apply for more before my move. Currently I have BBVA clearpoints, Discover, HSBC Gold, Amex Blue cash everyday, Amex Cash magnet that are pre-approved but I have not decided which to apply next yet. One more factor to consider is I might have to apply for privat student loans this year so I am aware of my scores. My current Fico 8 score is 715. Utilization 1%. Currently has 5 hard inquiries. 10 year history. Or, I might apply for auto loan......but most likely I will not apply for external loans if my current student loans can sustain. Let me know what are your thoughts

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Just open multiple tabs in your browser and submit all the apps you want.  Your scores will be just fine; you might even get a bump in your socres.

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Maize did your account get hacked? 

Was that /sarcasm?

LOL

Or how could that work? 

[Kforce]

Pikaboo-icu

   Valued Contributor

I believe it was a large dose of sarcasm

Remedios

   Community Leader
   Senior Contributor

Yes and proud of it

AverageJoesCredit

  Community Leader
  Super Contributor

Less is more and a picture is worth a thousand words

[rbentley]

I read a recent article on those who had perfect 850 FICO scores.  The vast majority of them only had 3 open cards and an installment loan.  They did have on average, three closed cards. 

You are not showing you have ability to handle credit merely by having dozens of open credit cards.  You are depressing your scores with inquiries and reducing your AAoA and AoYA.

[Anonymous]

Kforce took the brutalist approach to establish credit.