How to Control "The Itch"

[Anonymous]

I can see the allure to apply when you have ZERO rewards cards to use. For me though, I have a few already, so I can rest on that. 

Maybe be you should set a goal score to apply at. Not sure what your scores are, but let's just say 700. That seems to be the golden ticket score by many accounts. 

Set at a goal for yourself, something achievable, as a rewards, you get to app!

[Aprile421]

Start the mortgage process. That will shut down any urge you feel to apply for pretty much anything lol. Since I have started Amex, Barclays, USAA have all thrown crazy offers at me and all I can do is sit here and look at them sigh.

[Anonymous]

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@Anonymous wrote:

 But I have to remind myself that in the greater scheme of life, getting **another** CC isn't actually that important. 

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This!  While it may be gratifying to get the "Approved" message, run some numbers to get an idea of the actual impact.    With "moderate" cc spend, the additional rewards over existing cards can be very small.   And even the big bonus cards such as CSP. yes, a few hundred extra dollars is nice (but you have to make the spend) but usually not life changing.

And if you are really in it for the money, you can almost certainly make more by couponing, price shopping etc, and not spending time on cc forums.

[Anonymous]

Knowing the difference between a want and need.

It's always nice getting an approval. But I always ask myself if I really need the card I'm applying for and the answer is no. I think applications for credit cards when you're just starting out can be addictive but once you've established decent credit and have the cards that benefit you it gets better to fight the temptations.

Also if you have a *wishlist* card set a goal for when you'll apply. Time frame or when your score hits a certain number.

[jeffery581]

If you want them, and can USE them, go for it.  The inquires will fall off. Cash back is great!  Building early will give you a thicker and nicer file.  Do not know your profile or how many cards you have/ use, however. Cash is subprime. Do not think a new card willl derail your car buying in the future.

[NRB525]

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@Anonymous wrote:

Hey everyone!
I was wondering... How do you curb your itch to apply for really good cards?

I only ask this because I just hit 6months in my credit history; and WABAM!
I am getting offers out of nowhere.

I just signed off of my BoA, and it said " Chelsey, you're preselected!" And there they are.
The shiny unsecured Rewards card, with an online bonus of  $100 when you spend $500.
And the Travel Rewards card, with the 20,000 miles bonus.

These are two cards that I've wanted to work up to so badly.
But I know that I can't app, I just can't.
I have to build up my history for my car loan that I need 

But oh boy, is the temptation so real right now!

So do anyone of you have any tips, to help this poor newbie restraining themselves very hard right now? 

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As you start to build your credit, the advertising and even comments here can make it seem like "rewards cards" are the ultimate way to become a millionaire.

However, one step you can take is to really, closely, analyze your actual spend rate, how much you spend on items that go through credit cards, and put a dollar (or pennies in most cases) value on what a "rewards" card would mean to your current situation. For example, there is much debate about the Citi Double Cash vs the Capital One Quicksilver. 2% on the DC sounds wonderful, but on spend of $500 per month, it works out to $10 in "rewards" vs $7.50 for the Quicksilver at 1.5%. The difference between them is kind of meh in the short term.

Another step is to update your siggy with the cards you actually have. When you get the urge to app, and want supportive reasons not to app, providing people here with the cards you already have, and their limits, allows some good perspective on what your realistic expectations should be for new apps. This doesn't always align with what you get from the CCC, but there is a lot of experience here, and that includes realizing that a new app is not always a good idea.

[Anonymous]

Don't scratch it

[Anonymous]

Hobbies cost money. New cards offer 0% interest to bankroll said hobbies. I suck at this.

[n777ua]

I locked all my credit reports, that way its impossible for me to just app out of nowhere and regret it later.  Unlocking a report costs $10-15 and can take a few hours to a few days.  That gives me time to think things over

[kdm31091]

Realistically for most people the difference in rewards from adding more and more cards is going to be small and not life changing. It's important to run the numbers and realize that before chasing every impulse. More often than not its not worth adding another new account.