How many store cards can i get?

[GApeachy]

I would have stopped with just 5, no 4, maybe 3 of your cards!  Amazing limits!

[Aim_High]

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@GApeachy wrote:

I would have stopped with just 5, no 4, maybe 3 of your cards!  Amazing limits! 

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Thanks @GApeachy!  I'm blessed with these higher limits over the past few years and I don't take them for granted.  It's hard to believe but most of my credit life over the past 35 years, my limits were mostly in the modest $5K to $15K range and I didn't hit my first $25K limit until about 2013, only 6.5 years ago.  I was shocked at that!  (Of course if you reference an inflation calculator, in terms of buying power, a $15K limit in 1995 is equivalent to a $25K limit in 2020.)  Since 2013, I finished paying off some big debts, and then had my income and credit score rise substantially which have helped me to grow my limits.  Having been on both sides of the fence, I can empathize with the circumstances and profiles of a lot of different members!   I could get by just fine with a handful of my cards now, but it's nice to have the diversification with lenders and the utilization padding which both help my credit profile. 

[GApeachy]

@Aim_High and @folks19   this time last year my highest cl was $5k.  A store card/Visa Sig- Comenity and a $5k Savor Wemc.  Also (y I store cards) just a few months before those two I had a couple  of Store Cards that kicked in and raised my avg. cl above my Secured Discover (200 sl) and my Cap1 Plat---> to QS $750.  So I'm no stranger to store cards and I'd have one for every store I shopped if I wasn't chicken boc boc.  Now, with the help of multiple store cards mc/visa/store versions from every bank under the sun just about my tcl aren't too shabby either.   Funny how time flies.  What's funnier is the plane I flew in on.....

@folks19  have fun but do be careful with lenders these days, things are far from norm.

[folks19]

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@Aim_High wrote:

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@folks19 wrote:

Am i limited on the amount of store cards that i can hold at once ...  is there a limit to the amout of store cards i can get from the same issueing bank during a timeframe?

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@folks19, did you see the recent thread "Thoughts on Store Cards"?  There were a lot of comments and advice about them.  Perhaps a better question is not so much "how many CAN I get" as opposed to "how many SHOULD I get"?    Store cards can have their place in a credit lineup but moderation is important if you want to buy a good credit profile.  Based on their spending and other cards, some people may not really need any store cards or benefit from adding them to their wallet.  And I'd never recommend making them a major part of your revolving accounts.

See this link for my comments in that thread with pros and cons:

https://ficoforums.myfico.com/t5/Credit-Cards/Thoughts-On-Store-Cards/m-p/6055857#M1727968

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@Aim_High that question is irrelevant because I did mean to ask how many can I get as opposed to how many sho6i get!

Maybe it isn't smart in most cases to have too many store cards, but hypothetically, for the purpose of understanding synchrony bank's policies, how many can I get?

And in some cases, it may actually make sense to have a lot of store cards. For example, if you do a lot of shopping at a lot of stores for a business.

I applied all the feedback I'm getting so far! Thanks a lot!

[Anonymous]

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@folks19 wrote:

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@Aim_High wrote:

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@folks19 wrote:

Am i limited on the amount of store cards that i can hold at once ...  is there a limit to the amout of store cards i can get from the same issueing bank during a timeframe?

---

@folks19, did you see the recent thread "Thoughts on Store Cards"?  There were a lot of comments and advice about them.  Perhaps a better question is not so much "how many CAN I get" as opposed to "how many SHOULD I get"?    Store cards can have their place in a credit lineup but moderation is important if you want to buy a good credit profile.  Based on their spending and other cards, some people may not really need any store cards or benefit from adding them to their wallet.  And I'd never recommend making them a major part of your revolving accounts.

See this link for my comments in that thread with pros and cons:

https://ficoforums.myfico.com/t5/Credit-Cards/Thoughts-On-Store-Cards/m-p/6055857#M1727968

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@Aim_High that question is irrelevant because I did mean to ask how many can I get as opposed to how many sho6i get!

Maybe it isn't smart in most cases to have too many store cards, but hypothetically, for the purpose of understanding synchrony bank's policies, how many can I get?

And in some cases, it may actually make sense to have a lot of store cards. For example, if you do a lot of shopping at a lot of stores for a business.

I applied all the feedback I'm getting so far! Thanks a lot!

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It's not ever smart in any case is what we are all trying to impress on you. There is no reason to build a profile around store cards. Those who do have a much weaker profile. Lower limits (while Synchrony and Comenity can both get some large limits, it doesn't happen if they're not seeing major bank card approvals too), more likely to be slashed or shut down, and the inability to actually get decent cards. It doesn't make sense in any way. 

[folks19]

@Anonymous why  not? If I make over 500$ - 3000$ a month at 10 different stores for my business, why is it a bad idea if those store cards offer great reward? We're talking about 5000 - 30000 in total... I won't get shut down because I will use the cards every month. As for the limits, whatever I get is better then 0...

[Anonymous]

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@folks19 wrote:

@Anonymous why  not? If I make over 500$ - 3000$ a month at 10 different stores for my business, why is it a bad idea if those store cards offer great reward? We're talking about 5000 - 30000 in total... I won't get shut down because I will use the cards every month. As for the limits, whatever I get is better then 0...

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Without lender diversity, you're putting yourself at risk. Both Synchrony and Comenity get really twitchy with the AA and have shut down people who had excellent credit but too many accounts. You're basically putting your credit primarily in the hands of those two. I already pointed out low limit hell. 

It is totally up to you in the end of course but people trying to ward you off of this path, most of them have personal experience with what happens when store cards go wrong. It's thanks to them that I didn't make that mistake. 

[Anonymous]

You also seem to imply limited income here  which means that you're going to be an even bigger target as you start adding cards. 

[GApeachy]

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@folks19 wrote:

 I won't get shut down because I will use the cards every month.

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Recently, last year? Synch has been using Trended data (VS4 scores)

Does opening a new acct. affect VS4? 

Do balances affect VS4? 

[Loquat]

I have quite a few store cards and it hasn’t hurt me. All of this credit stuff is about the big picture of time/history...nothing more, nothing less.