No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hey everyone, So I am relatively new to credit, and things started off on a great foot. My scores on Equifax TransU, and Experian were all over 755. However around that time, I went on a credit card frenzy, and opened 5 accounts within 2 (1/2) months. As a result, despite me not carrying balances, or being deliquent. My credit suffered severely. Looking back, the one time sign up perks may not have been worth it. My question is what should I do going forward. Do I close the recently opened ones (roughly a year old now) or do I just deal with it now, and never apply for a credit card in the future. Like I said, I have no balances just figuring out how to go forward. Any advice will be appreciative.
Welcome to the forum
don't close any cards proceed to the garden and meet new friends who will help you get on the right track:smileywink
Tell them your story and see how fast they respond
Yes I am at the moment.
Score drop won't last forever. Keep your new accounts, let one report a small balance. You should start to see some recovery in a few months. Be patient your scores will return to high numbers.
We shall see you in the garden my friend
Do you mind sharing what cards? That way we will know if there are AF's involved, etc.
If there is no issue with you paying the AF's for all five cards (if necessary), I would keep them all as well to not hurt yourself any further! All should go up from here!
Yes, none of my cards have an Annual Fee. That is one of my methods of applying that I look for the best rewards without an Annual Fee.
Bank of Am Better Balance Rewards (10K) 03/2010
Capital One Best Buy (4,2K) 06/2011
Citi Forward (5K) 06/2011
Discover (2,5K) 11/2011
Chase Freedom (5,5K) 02/2012
Citi ThankYou Visa Sig (6,5K) 03/2012
Citi ThankYou Preferred MC (8K) 03/2012
Capital One No Hassle Rewards (2K) 04/2012
Citi Dividend (3K) 05/2012
Chase Amazon (3K) 06/2012