Why do I love applying for new CC's?

[overwhelmed]

I haven't applied for new credit in two years. I have three CC's and have paid on time each month. I have been waiting for the day that I can apply for a prime CC as I am in the middle of cleaning up my credit.

well, the other day I was approved for an amex (which I'm not so sure is prime anymore) and I became elated and wanted to apply like crazy for other cards. I know I shouldn't, I know I need to keep my new credit low and inq's low... but I am having a hard time holding back. this is bad, right?

what is it about applying for credit?????

[indyhotmama]

I know the feeling. Once you get that first approval, it's hard to stop. My only problem was after I got three approvals, I got 3 denials. You win some, you lose some. But no more for me for a while. Good luck.

[MidnightVoice]

Bad credit does not make you a bad person. 

And conversley, good credit does not make you a good person 

[overwhelmed]

It's funny you say bad credit does not make you a bad person. A lot of people seem to think your credit defines who you are as a person. I was watching a movie the other day and there was a scene where they were trying to figure out if "this person" was reliable and a good person.... so they had their credit checked. I've also discussed with some people that credit shows what kind of person you are.

Of course, I completely disagree.

I know people with great credit that are selfish, manipulative, and down right mean.

[MidnightVoice]

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overwhelmed wrote:

I know people with great credit that are selfish, manipulative, and down right mean.

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ROFL

[jizoe182]

This is always the case when my scores increase. I'm always shopping for credit cards that will make me look better in public. lmfao

I'm good for now. I think I've gotten all the cards I've ever wanted. =P

Maybe one more next year. LOLOLOL

Message Edited by jizoe182 on 08-14-2007 04:20 PM

[overwhelmed]

but doesn't that hurt your score when you apply? And - isn't it bad to have too many CC's?

[jizoe182]

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@overwhelmed wrote:

but doesn't that hurt your score when you apply? And - isn't it bad to have too many CC's?

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Not really. As long as you know how to manage your utilization and keep them all under at the most 15%, you'll see your scores increase. I recently applied for a bunch of CCs and my scores went up because of my util going down. And my next step is to keep a small balance on all my cards so the CCCs are forced to report my balance to the CRs. I never forget to pay my cards, ever. But um... *knocks on wood*

[Brammy]

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overwhelmed wrote:

I haven't applied for new credit in two years. I have three CC's and have paid on time each month. I have been waiting for the day that I can apply for a prime CC as I am in the middle of cleaning up my credit.

well, the other day I was approved for an amex (which I'm not so sure is prime anymore) and I became elated and wanted to apply like crazy for other cards. I know I shouldn't, I know I need to keep my new credit low and inq's low... but I am having a hard time holding back. this is bad, right?

what is it about applying for credit?????

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May be time to opt back out if you find yourself constantl applying ofr credit.  YES Amex is still prime.  They will also pull a financial review if anything looks suspicious.  Slow down a bit and enjoy your newfound status

[DebtSucks]

Before you do anything, go to daveramsey.com.   Pay your cards off and don't open any accounts. What have we come to in this country thinking you have to take money out on credit.   Its sad, but this website sets people up for failure by continuing to wade through a sea of debt. Change your behavior and get free from debt. Go to the daveramsey.com and sign up for "Financial Peace University".  My score is over 800 and I never carry a balance on credit cards. Always pay in full. If you have a car loan continue to pay early and extra if possible. God bless.