How many open revolving credits is too much?

[markhs777]

Whether it be Cap1 or any issuer it's only too many when you are told such and there's only one way to find out.

[CodeRED1]

I have 26 open credit cards in rotation. My wife has 7.

If you can manage them as many as you want. We PIF every card evey month and our rewards far exceed the annual fees on cards that have them. Make sure you are not paying AFs that exceed the real rewards and maintain good ratios. those 26 cards provide about $600k in CLs and I dont spend mor ethan 10-15k a month so I have a spreadsheet to manage the use patterns. For example using cards every 6 months to keep them "green status".  some cards obviously get used very frequently (amex, Costco, chase ink and so forth)

[Anonymous]

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@CodeRED1 wrote:

If you can manage them as many as you want. 

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OP wasn't referring to the question (often asked here) "How many cards are too many?" in general, and I agree with your answer to that.   The question was more "How many will a bank (specifically) Cap One allow you to have?" and at least for some banks, the answer certainly isn't "as many as you want"

[CodeRED1]

I get it but its a YMMV situation so I gave context to my experience. We dont get turned down for revolving credit lines (cards) from any bank (cap one sends me rediculous offers all the time I never take) so the how many is too many for an approval question is really what does your file look like, right? I think reported available credit, income and fico scores ar the big indicators for "too many". I dont think the number of accounts actually matters unless your carpet bombing applications.

[MountainHiker]

Can a person have three Capital One credit cards?

No one else seems to like me other than Capital One. American Express will NOT love me. Citibank has decided to relegate my status to the Minor league, and Discover believes I'm not conservative enough. For that reason I might need to stay with the one who brong me. I have a SavorOne Rewards card and a Platinum card. I'm considering going after a Capital One Walmart card.

Should I pull the trigger or wait and keep trying for an American Express card?

BTW I tried again today after waiting one month and was rejected like the nerdy guy with a really bad haircut 💈😭.

My scores are 670. Only 4 inquiries, 9 year old credit files. Bloomingdales account $6000 limit with zero balance, Macy's card $2600 limit with zero balance, and two Capital One credit cards. Excellent student loans aged to perfection at 13 years old. 

No one will give me credit love.

I feel like using Al Pacino's line which is "Say Hello to the Bad Guy".

[CodeRED1]

I dont see why a person couldnt have 3 cap one cards. Other issuers do it.

I have 5 Amex, 6 Chase, 4 Citi, 1 Disco, + A bunch of credit union cards

One major play to get your credit file in prime position is mix of credit types.. you can get pretty far on cards but some installment loans and mortgages will get you into a postion to get anything you want. if your credit file is 9 years old thats a great start - I wasnt much of a credit user until about 9 years ago myself though my file has been active since 1986 and for reference my scores were 

7/30/2014

629

632

634

So keep working at it and do the right things and the love will come. I'd go to chase and get a freedom or reg sapphire card. cap one seem so predatory to me (they all are to be honest).

6/2/2023

849

850

849

[MountainHiker]

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@CodeRED1 wrote:

I dont see why a person couldnt have 3 cap one cards. Other issuers do it.

I have 5 Amex, 6 Chase, 4 Citi, 1 Disco, + A bunch of credit union cards

One major play to get your credit file in prime position is mix of credit types.. you can get pretty far on cards but some installment loans and mortgages will get you into a postion to get anything you want. if your credit file is 9 years old thats a great start - I wasnt much of a credit user until about 9 years ago myself though my file has been active since 1986 and for reference my scores were 

7/30/2014

629

632

634

So keep working at it and do the right things and the love will come. I'd go to chase and get a freedom or reg sapphire card. cap one seem so predatory to me (they all are to be honest).

6/2/2023

849

850

849

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Great advice. Thank you. 

[the0walrus]

Yeah, I will eventually keep my AMEX cards only with time because I use my AMEX investor card for everyday purchases and my BCP card for gas, groceries, and streaming services. I just don't want to drop the other cards because I don't want to reduce my score.

[the0walrus]

You think they'd allow the Quicksilver to transfer to the Venture/Venture one? I'd do that in a heartbeat as I never use that card. I don't use their cards anymore and only use the BCP and my AMEX Schwab investor card. How do I transfer the Quicksilver to the Venture/Venture one?

[NoMoreE46]

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@NoMoreE46 wrote:

@the0walrus ,

If you are open to it, sometimes you can PC to the Venture from your QS.

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