Mid/Late game strats

[MudkipsRKooL]

Ok I have 10 CC already, I'm towards my late game strat. when it comes to the credit game. I am trying to get CLI on most of my cards and also narrowing down my last 5 I plan to get, when I already ranked them (sorta). Anyways I know  people tend to close cards and/or combine those that can and close down those that can't increase no more etc.. So that way they can get more credit cards in the future. As I heard there was a "soft" limit of 100-150K in total credit???? Anyways I'm at 127K i believe. 

How do you guys plan your late game strats? I still yet to get 2nd discover and do the combine option, as I am still getting CLI on the card. I know I was gonna transition into PLOC but I am busy with learning and doing stocks atm as well as a full time job so, yea I have taken the whole bank/PLOC on haitus.

Is there anything you guys think I should do to maximize my credit score, I know i need to get a mortgage, a car loan etc... just wondering how i can max my credit and also get higher limit offers. US Bank and X1 where my highest initial SL with 14K and 22K, I plan on only getting cards if I know i can get 10K SL.

Anyways what are you guys doing those in the "late" game of credit?

[Anonymous]

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@MudkipsRKooL wrote:

 As I heard there was a "soft" limit of 100-150K in total credit???? Anyways I'm at 127K i believe. 

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Where did you hear that!   Lots of people on here have much more credit than that, above $1M in some cases.    But chasing high total credit limit isn't really necessary (in the same way I don't close cards that won't "grow" if they are still useful).  Really look at your spending patterns and work on gaps in your collection, i.e. places where spend is significant and you don't have a card that covers it well (assuming a card exists that does!)

[Horseshoez]

You're kind of all over the map; a few comments and questions:

• What is your main goal, high scores or high credit limits (the two aren't necessarily compatible)?
• Do you actually need more credit or do you just want more credit?
• There really is no hard and fast limits to individual combined credit limits; some folks would struggle to get over $20,000, others are well over $1,000,000.

[JoeRockhead]

To add to what LTL said, I'd also point out that there are lots of people that have no mortgage, or open loans with 800++ scores. The passage, or accumulation of time seems to be one important aspect of credit (score) building that people want to ignore. 

Going for only cards that will result in a $10k+ SL can be an exercise in futility and about as accurate as playing roulette. As suggested, go for what best serves your needs and spending habits. Limits can almost always be grown and if not, focus on those that can.  

[Kforce]

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@MudkipsRKooL wrote:

Is there anything you guys think I should do to maximize my credit score

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Sit and let time do it's magic

My daughters with 3-4 cards and ~7 AAoA have 830+ Ficos

I had 850 Ficos  with 3 cards.

Getting cards, having large CL's, Etc have no real advantage to scores or being credit worthy

The best plan is whatever you want.

You are allowed to get a card because it is nice looking.

Get cards that tend to give higher CL's.

Cards to fill rewards in categories you don't have covered.

Maybe a new card to cover emergency BT need's.

You also could start closing worthless cards and keep you set simple.

I use two cards for all my spend.

No problem getting more if you want, however 

cutting your cards to 5 could be just as smart.

What you want from your card set is all that maters.

[Anonymous]

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@Kforce wrote:

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The best plan is whatever you want.

You are allowed to get a card because it is nice looking.

What you want from your card set is all that maters.

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Well, until the Rational Financial Behavior Enforcement bill passes.    You are allowed to get a card because it is nice looking in the same way you can cut off both little fingers to improve the look of your hands.   Allowed, but don't!

[CYBERSAM]

You already have decent CCs that would serve you well in the future. I would highly recommend U.S. Bank Altitude® Reserve Visa Infinite® Card its a great card for $75 AF with Visa Infinite benefits.

Now if you are looking to get "mortgage, a car loan etc..." then I would say setup for AZEO before applying. Recently to get the best rates, lenders are looking for 780+ scores, compare to 750s that use to be. Therefore I would not add any trade lines under a year before getting loans.

[redpat]

There are some that are part of the "Arms Race" for credit here and it's their hobby.  I did that for a while and then realized having that many cards end with diminishing returns and rewards all over the place. 

Find a rewards program that work for you, stick to it and then there will be no need for all those cards.

I have said this here many times, you can do more with less.

[Kforce]

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@Anonymous wrote:

Well, until the Rational Financial Behavior Enforcement bill passes.    You are allowed to get a card because it is nice looking in the same way you can cut off both little fingers to improve the look of your hands.   Allowed, but don't!

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I remember all those going for "metal cards", and the DC Power

  

[Horseshoez]

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@redpat wrote:

There are some that are part of the "Arms Race" for credit here and it's their hobby.  I did that for a while and then realized having that many cards end with diminishing returns and rewards all over the place. 

Find a rewards program that work for you, stick to it and then there will be no need for all those cards.

I have said this here many times, you can do more with less.

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Well said, less is more!