So I just hit the $100k club!
Man I'm stoked, almost overwhelmed. So I didnt intend on chasing a specific amount of credit in credit cards, but as I discovered my efforts to improve my credit (last few years) were paying off, I cant deny I became a bit addicted to it over the last 18 months. Many say I'm crazy and out of my mind, coupled with gasps lol but I have no problem managing 20 cards since I've always been OCD about numbers and organizing data. for me, that task is second nature.
As to why having so many of them, well I do also use them all and some are for mundane recurring things, and some are specifically for its rewards structure, and others just daily drivers. I've managed to weed out all my subprime cards and replace (and add) from prime banks, so instead of crazy annual and "monthly" fees from a few years ago, I'm picking cards based on rewards structures and usability. It was about 15 months ago I was finally getting approved with SL of $5k amounts. About 7 months ago average SL approvals were either $10k or $15k. The banks have surely been more accomodating and weloming lately, still not used to that. I even got my new car financed thru Audi financial. According to my credit file, I'm looking pretty good.
If anyone out there reading this, is doing so because they're in their rebuilding stages too, hang in there...it WILL pay off but the rewards always come later than you'd hope, but they do arrive! I'm hoping to get all the ones below $5k either up to $5k in the year or so. As long as I stick with my habits of paying EVERYTHING on time, only buying what i know i can afford, and staying organized, i should be in a good spot in 18-24 months. 800 score is the goal, but at least now I'm on autopilot. *Fist Bump*
The Lineup
$15,000 PenFed Platinum Rewards Visa Signature
$15,000 Navy Federal CashRewards Visa Signature
$15,000 United MileagePlus Club Visa Signature
$10,000 PenFed Promise Visa
$7,200 Chase Amazon Rewards Visa Signature
$5,000 Amex Blue Cash Everyday
$5,000 USAA Cash Rewards Platinum Visa
$5,000 USAA Rewards Platinum Mastercard
$5,000 Chase Hyatt Rewards Visa Signature
$4,500 Discover IT Cash Rewards
$4,000 Barclaycard Apple Rewards Platinum Visa
$3,000 Chase IHG Rewards Club World Mastercard
$2,500 Comenity Lexus Pursuits Visa
$2,500 Comenity Fuel Rewards Network Mastercard
$2,000 Citi ThankYou Premier World Elite Mastercard
$1,700 Citi DoubleCash World Elite Mastercard
$1,000 Amex Hilton HHonors Surpass
$500 BankAmericard Cash Rewards Platinum Plus Visa ($99/500 Offer -- way too many inq's at time of app lol) - once this one graduates I'll be done with the secured cards)
@credit_is_crack wrote:So I just hit the $100k club!
Man I'm stoked, almost overwhelmed. So I didnt intend on chasing a specific amount of credit in credit cards, but as I discovered my efforts to improve my credit (last few years) were paying off, I cant deny I became a bit addicted to it over the last 18 months. Many say I'm crazy and out of my mind, coupled with gasps lol but I have no problem managing 20 cards since I've always been OCD about numbers and organizing data. for me, that task is second nature.
As to why having so many of them, well I do also use them all and some are for mundane recurring things, and some are specifically for its rewards structure, and others just daily drivers. I've managed to weed out all my subprime cards and replace (and add) from prime banks, so instead of crazy annual and "monthly" fees from a few years ago, I'm picking cards based on rewards structures and usability. It was about 15 months ago I was finally getting approved with SL of $5k amounts. About 7 months ago average SL approvals were either $10k or $15k. The banks have surely been more accomodating and weloming lately, still not used to that. I even got my new car financed thru Audi financial. According to my credit file, I'm looking pretty good.
If anyone out there reading this, is doing so because they're in their rebuilding stages too, hang in there...it WILL pay off but the rewards always come later than you'd hope, but they do arrive! I'm hoping to get all the ones below $5k either up to $5k in the year or so. As long as I stick with my habits of paying EVERYTHING on time, only buying what i know i can afford, and staying organized, i should be in a good spot in 18-24 months. 800 score is the goal, but at least now I'm on autopilot. *Fist Bump*
The Lineup
$15,000 PenFed Platinum Rewards Visa Signature
$15,000 Navy Federal CashRewards Visa Signature
$15,000 United MileagePlus Club Visa Signature
$10,000 PenFed Promise Visa
$7,200 Chase Amazon Rewards Visa Signature
$5,000 Amex Blue Cash Everyday
$5,000 USAA Cash Rewards Platinum Visa
$5,000 USAA Rewards Platinum Mastercard
$5,000 Chase Hyatt Rewards Visa Signature
$4,500 Discover IT Cash Rewards
$4,000 Barclaycard Apple Rewards Platinum Visa
$3,000 Chase IHG Rewards Club World Mastercard
$2,500 Comenity Lexus Pursuits Visa
$2,500 Comenity Fuel Rewards Network Mastercard
$2,000 Citi ThankYou Premier World Elite Mastercard
$1,700 Citi DoubleCash World Elite Mastercard
$1,000 Amex Hilton HHonors Surpass
$500 BankAmericard Cash Rewards Platinum Plus Visa ($99/500 Offer -- way too many inq's at time of app lol) - once this one graduates I'll be done with the secured cards)
Congrats!
I like your card line up better than mine. If I would've held apping from store cards at the start of my rebuild my line up would've been much better. I got real itchy at the beginning,
AU:
Congrats!!! Nice accomplishment.
datrucking210 wrote:
Congrats!
I like your card line up better than mine. If I would've held apping from store cards at the start of my rebuild my line up would've been much better. I got real itchy at the beginning,
I did the same thing, but last summer as I got approved for the store MC/Visa versions i closed out the store cards. It did hurt my AAoA for a bit, but removing those lower limit cards 'encouraged' banks with my new apps to give me higher SL. not all, but most banks have some kind of algorithm (either matches your highest card, or your SL is the average of all your active CL, etc). I don't know what it is, but when i removed the lower lines (except a couple cards hovering at $2k or below), i started getting higher lines.
Amazon SC $400, closed. Old Navy SC $300, closed, etc. I had about 4-5 low line SC. Now i just have the Sam's and JCPenny cards (because I do use them). Hopefully those will grow up like the others.
@RM21 wrote:
Congrats!!! Nice accomplishment.
Thanks -- now all I have to do is not screw it up lol
Seeing that it is crack, you better not lol
Congrats!!
Congrats!!
Congrats to you too and Thank You!
@JcT21 wrote:congrats on getting 100K!
i finally entered the 100k club this past february. welcome to the 100k+ family :-)
