Question about the bragging about having multiple cards open

[Anonymous]

Personally, all my cards are of some use to me. Some more than others. I post them up welcoming anyone to ask about my experience with a company/ccertain benefits to a card, etc. I suppose a bit of it is bragging, but if I can help someone decide on a card, that would make my day.

[vikingred]

Do you realize the time and effort involved in achieving 850's across the board, and a nice long AAoA, say 10-15 years or more?  It's a massive accomplishment and when lenders see that, and a thick file full of perfect payment history?  Dude.  It's love, pure love.  I intend to get there one day.  I'm in the 700s now and have some major cards, amex, discover, chase, bofa, barclay, etc but I want badass cards.  I want a diner's club.  I want a ritz carlton.  I want a platinum amex, i want a chase saphire preferred.  What else?  Elite cards.  Because I can.  Because I will.  Because it feels good.  It feels like power.  I'm looking forward to my first 5 figure limit which I believe I'll hit soon on a CLI with Amex.  I want choices.  I want rewards.  I want to impress female cashiers and clerks.  At the end of the day it's a hobby, though, because credit is credit, and cash is cash.  And ya gotta have the skills to pay the bills.  And thanks to hard work, I am fortunate enough to be playing the game today.  Still haven't figured out how to put all my cards in my sig though. 

[NRB525]

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@Themanwhocan wrote:

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@Anonymous wrote:

OK so right now my credit score is a 668 according to Navyfed.

I have a best buy card - 3000 CL just paid off over 2800 recently

I have a Navyfed Mastercard Platinum - 17,500 CL - Maxed out because I used it to pay off a star card, personal loan, and best buy card

I have a security services credit union Mastercard Gold Card - 5000 CL - Maxed out

I have a BOA Alaska Airlines Signature card - 5000 CL - Maxed out

I have a military star card - 4200 CL - Nearly Maxed out

I dont think Im doing this right lol.  Most of my cards only get big payments or paid off around tax time.  Some of them have had 4000 plus balances for years....

But my credit had always been like 660 - 675 for the last 6 years.

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You don't want balances to report on more than one card, and you definitely don't want a maxed out card. read this post:

http://ficoforums.myfico.com/t5/General-Credit-Topics/How-do-I-play-the-1-9-Utilization-Game-Please-Help/m-p/2471257#M199479

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Good advice, for the year 2020. It's a little early to be lining up the usual "optimize score" suggestions.

With the cards at that level of utilization, and the scores doing as well as they are, it indicates OP is maintaining payments and no baddies yet. OP if you can back off spending, change your spend patterns somehow, and get the balances down, it will be the best thing for your score. It does take a lifestyle change, but it can be done. FWIW I had balances at one point over $90k, a fair amount in cash advances, cash in the bank, so fairly easy to apply that in large payments, but it's been several years of lifestyle adjustment for me to get these balances down to where they are. Getting on that path to watch your balances go down is motivating however, you've just got to decide to do it.

And regarding the suggestion to cut up any of these cards? Ignore that suggestion. These cards area all good for the long term, no reason you would be wanting to close any of them because they will be the foundation for your credit score, already are the foundation for your credit score.

Good luck!

[Anonymous]

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@Anonymous wrote:

Every situation is truly different.  I have maintained good credit since college (graduated in 1978).  I have three or 4 credit cards with high limits that had grown over the years.  I found this forum as well as Flyer Talk and realized I could leverage my credit for free travel/rewards.  If there is a decent sign up bonus I'm in!  On occassion I will get a card like Diners or NASA just for the hell of it and take the $30,000, $40,000 limit but for the most part it's for the freebee's.  In May we are going to Paris.  5 nights at the Marriott ($600 per night) free with Ritz and Marriott sign up bonuses.  2 business class tickets compliments of the multiple Citi AA Exec cards I got last summer.  Last year was London and the year before was Tahiti/Bora Bora.  Trips we could afford but even better free.  We are already working on 2016 vacation.

I never would have known this world existed without these forums.  Yes when asked I do post credit limits but not to brag but to help others.  My FICO has ranged from 800 to 670 (right after a long app spree).  I post successes when my FICO is lower to let people know it is possible.  I keep about 12 core cards and dump cards every year and start over.  I no longer care what a card looks like, don't care what the cashier thinks when I put it down, just care what the credit card companies are paying ME for using their card.  Just my story for what it's worth

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When I grow up, I want to be like you. Until then...

[Pway]

I don't view it as bragging at all. We all have come from different credit backgrounds over the years. We are all proud of our accomplishments and this is the place we can talk about it and offer advice when needed. Each time we post something it is in our signature that automatically place what we have there. 

[Anonymous]

I worked on Credit for just fun of it when I was younger
then Two years ago I had to rely on my credit to get me out of finacial hole I was in
thanks to my 120k limit at the time I was able to carry 40k-45k balance over two years (BoA called me once)
didn't  have to liquidate any of my down investment
I love my cards and they really are like trophies to me

[Anonymous514]

Are you mad...OR NAW!?

[Broke_Triathlete]

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@bigalkescott514 wrote:

Are you mad...OR NAW!?

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If he was mad I hope he's over it by now...LOL

[Anonymous]

Wellllp since someone wanted to ressurect this I can't stop thinking about my answer, so here goes nothing:

I don't see it as bragging.  I listed them because most members (99.9999999999999999999%) are friendly and knowledgeable. Doesn't mean they are perfect. But even the folks with 580's and 2 cards have something to contribute. I always want to remain teachable.  I think it should be almost mandatory that a person would have their scores, cards, limits, balances, income, blood type, a1c, etc listed, but that is probably overkill.

I hope it never came off as bragging. I definitely got addicted for a while....Credit cards were my missing puzzle piece to couponing. Just another way to snag another few pennies.  But the funny thing is the only card I regret opening still gets used and greatly helped my utilization at the start of my spree in april/may (sams).  I find myself aligning with a group of people here that post fairly regularly. They tend to kudo my post and vice versa. They arre somewhat opinionated like myself. A few are really into bonuses as well as maximizing the potential/impact of a hard inquiry.  This is probably because I have so many inquiries. I guess I see my total TL's as a drop in the bucket compared to the 150-250k+ folks.

I mean yeah, I have cards in my signature that dont get used often.....basically only regularly use PRG/DC/QS Amazon Discover.  My new amtrak card will be used heavily as it earns 2 amtrak points per dollar spent on all travel which is worth 5-6 percent or more.  But I am going to continue opening cards every 3-6 months because how else would I be able to pay insurance/property taxes and earn rewards? The fees offset the cash back. So a signup bonus is the only real way. I guess I could load my softserve with my quicksilver. To afraid to change the card as it shouldn't even be working anyway.

[Anonymous]

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@bigalkescott514 wrote:

Are you mad...OR NAW!?

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Any particular reason you reopened a 7 month old thread?  Seems kinda useless and board cluttering