Max number of new CC's?

[OnTheRebound]

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@tim1017 wrote:

Went on a bit of a spree (shopiing cart trick and apps) with 4 shopping cart trick approvals (VS, Express, Buckle, Bylen Home) and 1 application approval for Walmart MC.  3 denials Navy Fed, Discover it and Barclays. I'm done but may request CLI's with some recons (recon with Discover went nowhere).  Question is this FIVE AT ONCE TOO MANY?  Golk was to expedite the lowering my UTI with more credit available along paying down my other two credit cards.  Now I have 8 CC that are going in the shredder.  Need to just tend to these until Summer. 

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In my opinion it is. If my goal was to lower my utilization, I would concentrate on paying down my existing balances rather than applying for more (junk) credit to lower utilities. Then apply for a couple of cards I really want and can use

Too many people go crazy with the shopping card trick only to regret it later.

You asked, I told you.

[TheGardner]

The main problem is your high UTL. I'm sure the shopping card trick helped but you may have gained 5 low limit cards that will never do you any good. In this case 5 was too many lol.

I would definitely work to pay down the balances so the next 5 will be prime cards with nice limits which won't be too many! (Disclaimer 3 at a time would be recommended each pulling separate CB but 5 also wouldn't be unheard of as long as they don't all pull same CB)

Hope that helps, good luck! 

[Anonymous]

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@NRB525 wrote:

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@-Cal- wrote:

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@Anonymous wrote:
whats shopping cart trick?

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trust me, you don't want to know...

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+1

If you want to get to 850, you aren't going to get there with shopping cart tricks

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+1/  If people could stop at ONE shopping cart trick card.  FINE.  But, most can't help themselves and end up with plenty of garbage cards, like 99% of store cards ARE.

[NRB525]

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@Anonymous wrote:
maybe if someone told me what it was i would know lol\

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I've gleaned from these boards that the "shopping cart trick" involves going to one of the known web sites where they will offer you instant credit. You then apply during check out and, presto, you have a credit card. Usable only at that location.

So you might use it one or two more times, but it isn't really a credit card (so I've gathered). it could be used to generate credit history, but it's only a launching / starting point.

I'm making statements here from speculation only. I have never done the "shopping cart trick" but if you search this site you will probably find some discussion. Maybe it's a rite of passage for getting starter credit? I don't know. I'm too old for it

Good luck on your credit journey.

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:
maybe if someone told me what it was i would know lol\

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I've gleaned from these boards that the "shopping cart trick" involves going to one of the known web sites where they will offer you instant credit. You then apply during check out and, presto, you have a credit card. Usable only at that location.

So you might use it one or two more times, but it isn't really a credit card (so I've gathered). it could be used to generate credit history, but it's only a launching / starting point.

I'm making statements here from speculation only. I have never done the "shopping cart trick" but if you search this site you will probably find some discussion. Maybe it's a rite of passage for getting starter credit? I don't know. I'm too old for it

Good luck on your credit journey.

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I got a JCP card back in 2006 at checkout because they were offering half off if I got their card and payed with that card. I told the clerk I would get it as long as I could pay it off immediately after purchase. The store clerk said I could and so I did.

I forgot about that card until I checked my credit report for the first time this year, so I guess, in a way, I've pulled the shopping cart trick without even knowing it... It was also the only time I've ever used that card but it still counts towards my AAoA.

I completely agree, this online trick get's abused. It can be useful to build credit history if used responsibly, but I get the sense far too many people think they're beating the system and end up only hurting themselves.

[tim1017]

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@OnTheRebound wrote:

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@tim1017 wrote:

Went on a bit of a spree (shopiing cart trick and apps) with 4 shopping cart trick approvals (VS, Express, Buckle, Bylen Home) and 1 application approval for Walmart MC.  3 denials Navy Fed, Discover it and Barclays. I'm done but may request CLI's with some recons (recon with Discover went nowhere).  Question is this FIVE AT ONCE TOO MANY?  Golk was to expedite the lowering my UTI with more credit available along paying down my other two credit cards.  Now I have 8 CC that are going in the shredder.  Need to just tend to these until Summer. 

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In my opinion it is. If my goal was to lower my utilization, I would concentrate on paying down my existing balances rather than applying for more (junk) credit to lower utilities. Then apply for a couple of cards I really want and can use

Too many people go crazy with the shopping card trick only to regret it later.

You asked, I told you.

Maybe you should also highlighted the above instead.  I'm doing both.  Faster now.

Someone else asked what other mix of cards, Barclays Rewards and Cap1 Plat.  For those reading this and shaking their heads try and uderstand some of us have to start somewhere.  And not everyone's goals are to attain 850.

[tim1017]

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@TheGardner wrote:

The main problem is your high UTL. I'm sure the shopping card trick helped but you may have gained 5 low limit cards that will never do you any good. In this case 5 was too many lol.

I would definitely work to pay down the balances so the next 5 will be prime cards with nice limits which won't be too many! (Disclaimer 3 at a time would be recommended each pulling separate CB but 5 also wouldn't be unheard of as long as they don't all pull same CB)

Hope that helps, good luck! 

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Thank you, to the point yet constructive (dot destructive).  Prime cards will surely be the goal in 2015.  TO THE GARDEN!!!

[Anonymous]

I'm a huge fan of the shopping cart trick...it works!

If you have a thin credit file and are rebuilding, it's a godsend.

If you are already established, there's no need for it.

If you can't help spending on every credit card you have and can't keep up with the payments, don't even think about the shopping cart trick because you'll be back in the hole in no time.

As to the original post, 5 cards <6 months is alot when you're considering another card from guys like Amex/Barclays.  If you have a relatively long history and applying for a CapOne card, it shouldn't be a problem

6 months really does seem like the magical number between app spress

[Anonymous]

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@Anonymous wrote:

I'm a huge fan of the shopping cart trick...it works!

If you have a thin credit file and are rebuilding, it's a godsend.

If you are already established, there's no need for it.

If you can't help spending on every credit card you have and can't keep up with the payments, don't even think about the shopping cart trick because you'll be back in the hole in no time.

As to the original post, 5 cards <6 months is alot when you're considering another card from guys like Amex/Barclays.  If you have a relatively long history and applying for a CapOne card, it shouldn't be a problem

6 months really does seem like the magical number between app spress

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The "benefits" of the shopping cart trick won't show themselves for a while.

A thin credit file with 30 new store cards is still a thin credit file.

[Anonymous]

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@Anonymous wrote:

The "benefits" of the shopping cart trick won't show themselves for a while.

A thin credit file with 30 new store cards is still a thin credit file.

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That's exactly what I had along with a 480 credit score.

I jumped 220 points in less than 2 years thanks to Mr. Shopping Card Trick... and of course managing the gazillion credit cards.

Those cards won't help you overnight, but 1 year later, I'm happy I got them.