Oh chit

[mcf]

@jsickz, its allgood our country wants us all to be in debt over our head lol..

[myjourney]

Sorry to hear keep your head up and moving forward

[sandman2435]

I was at over 300K in credit..I have shredded over 100K in the past 2 months..have about another 50K to unload than Im done

[mcf]

im curious but why unload?? He who has most toys wins!

[GatorGuy]

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@sandman2435 wrote:

I was at over 300K in credit..I have shredded over 100K in the past 2 months..have about another 50K to unload than Im done

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Do you mind me asking what your income and credit scores are?

[sandman2435]

120K mid 700's with all three EX,EQ TU..Banks don't like overexposed..I think thats the word im looking for..and I do not keep a balance..maybe I will let a few report a little balance..but I pay in full always

[FinStar]

[GatorGuy]

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@sandman2435 wrote:

120K mid 700's with all three EX,EQ TU..Banks don't like overexposed..I think thats the word im looking for..and I do not keep a balance..maybe I will let a few report a little balance..but I pay in full always

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Thanks. Very impressive!

[Revelate]

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@youngandcreditwrthy wrote:
I think it's cause for concern, but I monitor my own credit reports prob more often than my creditors and do a good job of managing my credit..or so I thought lol
How could Citi be so concerned when they are $5000 of almost $170k of credit. I decided to not bother with reopening this account. I only wanted it for the BT offer which I took advantage of. Citi really has made it to my blacklist.

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A $5000 line is still $5000 at risk if they feel you may be a candidate to default.

Personally I wouldn't worry about it, but while I am doing the limit chasing game myself right now, I don't see racking up limits on GE store accounts to the exclusion of national bank cards to be a wise strategy.  I'm going to be using Walmart (if Amex doesn't pan out quickly enough) to try to get myself over some underwriting hurdles personally, but opening up a slew of store cards and chasing 10K or higher limits on them I think is counter-productive in the long run.  

Personally I'd prefer to have a 5K tradeline from Amex, Chase, or Citi (or even BOFA) over a 25K one from Walmart, and I think Walmart has the most general use from my own limit chasing for financial defensibility reasons in addition to the freebie FICO.  25K from JCP doesn't put food on the table (at least easily) if I do go through another career slump that appears to follow the cyclical nature of the IT industry in my case... that's probably coming in another 2-3 years even hence my planning now.

[youngandcreditwrthy]

Well, several of my cards are the Bankcard version/, ie Wmt Discover, BR Visa, and even Paypal MC.
I prob will end up closing some accounts.
I like my Dillard's and Travelocity Accts! My Dillard's card is almost 6 years old! My JCP card is almost 4 years old! I don't want to lose aaoa or util points for closing any of these accounts. I'm okay with closing Chevron and maybe lowering the limits on other cards. I thought the whole idea behind this game was to get as many good tradelines as possible w as high of limits as possible. I guess now I do have the firsthand experience that limits are not everything. No more crazy clis from me. I deleted the GE number from my phone :-)