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I am running out of banks for credit cards

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Valued Contributor

I am running out of banks for credit cards

I have cards from the following banks and credit unions

 

1x Wells Fargo                       15k

2x Bank of America               18k

2x Citi                                       15.5k

1x US Bank                              11.2k

1x Chase                                  16k

1x Capital One                         10k

1x American Express             12.7k

1x Discover                               6.2k

1x Barclaycard                         10k

1x TD Bank                               10k

1x HSBC                                   9.5k

1x Vital FCU                            10k

1x MTC FCU                            10k

1x Statefarm                           14k

1x MTC FCU revolving overdraft...not really a card, but allows my checks to act like one.    8k 

 

Total revolving credit limits.....176.1 k    Only card that carries a balance is Vital FCU that my sister uses and pays 5200/10000 balence to limit. Only other debt is 17.8k mortgage, and an auto loan my Neice pays and it will be her vehicle when paid...7.8k owed on original 18 k loan at 1.95% interest rate Vital CU. My home value is 128k, and I have about 400k in deferred tax savings, and about 80k value of other property. Total net worth is around 580k if all was liquidated, but 400k of that would be taxable. The 80k includes vehicles, guns, tvs, gold and silver coins etc. It would probably be a little higher than that actually. I receive 2150 SSDI monthly, and can withdraw any needed amount from the deferred savings, and most of the 2150 is non-taxable.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 1 of 71
70 REPLIES 70
Established Contributor

Re: I am running out of banks for credit cards

Tripple dip chase, Amex, and wack Citi again.

Ⳏroſilē oſ ᥠ chԑap, ſrēqⴑēnt ſlyԑr ✈⛽⛾ ⳎroⳎel ✈⛾ ८s ⛾⬮ ᦑold ☎ Ⲙileⴑp ┊ iէ ⛽ ८∰
⛪ ▲G ┊ q§ ┊८ſu ┊ ↇᏨ ┊ ēD ⛎ ᐰmzn √/ᐰ ┊ wſ -√ ⛪ Ɲĕхт: ➕ citiⳎrēm ┊ βoſᥠ ८R
Message 2 of 71
Moderator

Re: I am running out of banks for credit cards

Is there a strategy that you're focused on for acquiring a variety of cards (i.e. SUBs, rewards, travel, etc.), or is it primarily just collecting them from different institutions? Are you opposed to 2 different CCs from the same bank or are you hitting a ceiling on approvals based on income?
Message 3 of 71
Community Leader
Super Contributor

Re: I am running out of banks for credit cards

Sounds to me like you do not need any additional credit at this time, @sarge12 

 

 

 

 

EX 753 EQ 773 TU 752
Message 4 of 71
Frequent Contributor

Re: I am running out of banks for credit cards


@sarge12 wrote:

I have cards from the following banks and credit unions

 

1x Wells Fargo                       15k

2x Bank of America               18k

2x Citi                                       15.5k

1x US Bank                              11.2k

1x Chase                                  16k

1x Capital One                         10k

1x American Express             12.7k

1x Discover                               6.2k

1x Barclaycard                         10k

1x TD Bank                               10k

1x HSBC                                   9.5k

1x Vital FCU                            10k

1x MTC FCU                            10k

1x Statefarm                           14k

1x MTC FCU revolving overdraft...not really a card, but allows my checks to act like one.    8k 

 

Total revolving credit limits.....176.1 k    Only card that carries a balance is Vital FCU that my sister uses and pays 5200/10000 balence to limit. Only other debt is 17.8k mortgage, and an auto loan my Neice pays and it will be her vehicle when paid...7.8k owed on original 18 k loan at 1.95% interest rate Vital CU. My home value is 128k, and I have about 400k in deferred tax savings, and about 80k value of other property. Total net worth is around 580k if all was liquidated, but 400k of that would be taxable. The 80k includes vehicles, guns, tvs, gold and silver coins etc. It would probably be a little higher than that actually. I receive 2150 SSDI monthly, and can withdraw any needed amount from the deferred savings, and most of the 2150 is non-taxable.


OK.

 




*Currently using Amex Delta Platinum for Supermarkets. ×5 miles back promo. Ends 8/31/2019.
Message 5 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@FinStar wrote:
Is there a strategy that you're focused on for acquiring a variety of cards (i.e. SUBs, rewards, travel, etc.), or is it primarily just collecting them from different institutions? Are you opposed to 2 different CCs from the same bank or are you hitting a ceiling on approvals based on income?

My strategy the past few years is to get the best credit card offers I find without ever having more than 2 at any bank. Usually one will be for the SUB and any added benefit. This time it was the US Bank Quicken, that gives me a free year of my quicken plus 100 dollars SUB. The second card I want to be at least 1.5% cash back and have some other benefit that will make me want to use that card. This card with 3% cash back everywhere and 10% of the annual rewards as a bonus fits the bill, but the free equifax fico score was the final thing about it that made me choose it. I try to deversify my cards to prevent any cards closure from negatively affecting my utiliation or any other scoring metrics and limit it to 2 cards per year.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 6 of 71
Frequent Contributor

Re: I am running out of banks for credit cards

 

@sarge12  I'm confused.  Why do you want more cards?  Are you just collecting them or do they serve a purpose?  You don't mention which cards you have with which banks or where your monthly spending goes as far as cash-back rewards cards, so we can't help you there. 

 

If you're just collecting cards, there are plenty of more options! 

You're just getting started.  Smiley Happy

 

As mentioned, double-dip some of the large banks. 

Most will give you at least two or three cards.

 

You have nothing from Synchrony or Comenity.  PayPal Mastercard 2% CB? Lowe's? Etc ...

 

Here is the full list of 163 Comenity-bank partner credit cards including

Big Lots, DSW Shoes, Eddie Bauer, Red Roof Inn, Toyota, and

Victoria's Secret.  Smiley Wink

https://www.crediful.com/comenity-bank-credit-cards/

 

BBVT?  BBVA? SDFCU? Simmons Bank?  Key Bank?

There are hundreds of good credit unions also.

 

How about one of the new Goldman-Sachs Apple Cards?

 

I saw nothing on your list from First National Bank of Omaha FNBO or their subsidiary First Bank that issues the Ducks Unlimited cards with 5% off gas and sporting goods among other good cards.  They even have a 2% cash-back if you deposit to account.

 

With a user-name like SARGE, are you ex-military?  You didn't mention any of the dozens of military-affiliated lenders like USAA, Navy Federal, PenFed, Fort Knox CU, AFBA (like I have), or many many more. 

 

Gee, I hope I haven't started something! 

Don't trash your great scores with too many apps!  LOL Smiley LOL

 

 




Total Length of Credit = 31 years; AoOA (Currently open accounts) = 26+ years; AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
*Hover cursor over each card to see name, CL
Message 7 of 71
Senior Contributor

Re: I am running out of banks for credit cards

I take a very different approach!

 

I have more cards than you, but they are "clustered" at only six issuers (falling to five when I close Savor...and maybe a few others).

 

Fewer websites to check, fewer passwords to remember, and lots of spend earning MRs and URs.

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival, Double Cash
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum, Aviator Red
Bonus chasing / retention games: Savor, BCP
Message 8 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@wasCB14 wrote:

I take a very different approach!

 

I have more cards than you, but they are "clustered" at only six issuers (falling to five when I close Savor...and maybe a few others).

 

Fewer websites to check, fewer passwords to remember, and lots of spend earning MRs and URs.


Different strokes for different folks.Smiley Wink

Message 9 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@Aim_High wrote:

 

@sarge12  I'm confused.  Why do you want more cards?  Are you just collecting them or do they serve a purpose?  You don't mention which cards you have with which banks or where your monthly spending goes as far as cash-back rewards cards, so we can't help you there.  Many of my cards were for high SUB...just to make a profit and the SD the card. Free money.

 

If you're just collecting cards, there are plenty of more options! 

You're just getting started.  Smiley Happy

 

As mentioned, double-dip some of the large banks. I have double dipped a few, but limit my exposure to two cards each.

Most will give you at least two or three cards.

 

You have nothing from Synchrony or Commenity.  PayPal Mastercard 2% CB? Lowe's? Etc ...  I never ever get store cards, or any Comenity or Synchrony...too many bad posts on here. All my cards are Visa, MC, Discover, or Amex.

 

Here is the full list of 163 Commenity-bank partner credit cards including

Big Lots, DSW Shoes, Eddie Bauer, Red Roof Inn, Toyota, and

Victoria's Secret.  Smiley Wink

https://www.crediful.com/comenity-bank-credit-cards/

 

How about one of the new Goldman-Sachs Apple Cards? Do not have an apple phone, so the usefullness would be limited.

 

I saw nothing on your list from First National Bank of Omaha FNBO or their subsidiary First Bank that issues the Ducks Unlimited cards with 5% off gas and sporting goods among other good cards.  They even have a 2% cash-back if you deposit to account. Being Disabled, and only driving maybe 1000 miles annually, it would be little use.

 

With a user-name like SARGE, are you ex-military?  You didn't mention any of the dozens of military-affiliated lenders like USAA, Navy Federal, PenFed, Fort Knox CU, AFBA (like I have), or many many more. No military, (Mod cut-Please no personal info here on the board)

 

Gee, I hope I haven't started something! 

Don't trash your great scores with too many apps!  LOL Smiley LOL Nope...been getting 2 cards a year for about 5 years, and only had 1 score drop to 796, which recovered to 800+ in about 6 months. My scores stay in the 800-835 range.

 

 


 

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 10 of 71
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