@Anonymous wrote:
@Cpmcmxc wrote:
Thanks @Anonymous - I previously replied with some of my core areas of spending, as well as my overall credit goals. Should be further up in the posting. I will say, I am wondering if I am better off going into the garden instead and focusing on building the credit lines I have rather than opening new cards? Do you have any insight or advice here?
Really it's up to you. Me personally, I'm a fan of quality over quantity... meaning I'd rather have less cards that I use all the time with strong limits rather than a ton of cards where the majority don't get used often, half sit in the SD, etc. This is coming from someone that rolled with just 1 CC for the first 15 or so years of my credit life, then in the last 5 years moved up to 7 cards. Across those 7 cards my ACL (average credit limit) is a hair over $30k, so I definitely focused on growing limits on just a handful of cards rather than adding more cards. My plan going forward is to add no more than 2 more cards for a total max of 9; if I were ever to desire a 10th at any point (unlikely, I haven't added a revolver in nearly 4 years now) I'd probably drop my least used one. If your current lineup works well for you, I say garden until you come across something you really want/need. Any time I've considered adding a card, I've researched it a ton mostly on this forum and even after deciding that I want it have waited 6-12 months before apping just to make sure after that span of time I still want it the way I did originally. I'm a bit more conservative when it comes to apping though and recognize that not everyone shares my views.
THIS.
For some people, they like simplification and maximizing their credit profile with a few cards. Others may like SUB chasing, maximizing and managing all their expense categories, etc.. It is all subjective and there really isn't a right or wrong answer here. Also, what works for someone else's profile might not work for you. The advantage everyone here has is a wealth of information if you take time to research here and pay attention the details. Try out a couple more cards slowly and see how you like managing more cards slowly but surely. Only advice I really have on that is don't spend what you can't pay back. Unless you are very wealthy, losing money on interest spirals downhill fast.
