A semi bubble maybe but reality is most have no idea about Fico scores or how they actually work or how much the system is tilted against them.
@gdale6 wrote:A semi bubble maybe but reality is most have no idea about Fico scores or how they actually work or how much the system is tilted against them.
Well said! +∞ 
@wasCB14 wrote:
@Anonymous wrote:I currently have 7 credit cards, and live at home. My mom keeps telling me "I am going to wreck my credit for having so many cards" and "it is irrepsonsible to have more than a couple credit cards". I keep trying to explain that havings lots of cards is a good thing if you are responsible but she and no-one else seem to get it. Are we in a bubble on this forum, or are most people just not very credit savy?
I'm not an expert on FICO scoring, but is the value of a 5th, 6th, 7th revolving account significant if utilization is low?
I've not had family worried I would wreck my credit, but I have had family wonder how I keep track of it all.
I have wondered this myself, actually. IMHO, if you need that many cards just to pad utilization, you are increasing your chances of running up balances and not being able to pay them. Not everyone does this for utilization-padding, of course, but I know a lot of us do, including me. Nevertheless, if you can handle it, no worries. Just my 2 cents.
Yup..its a bubble.😉
And no matter what, some people won't understand why others use CCs.
You're only over extending yourself if you're using more than you can pay.
I still find value in #40 CC.😂
That's whether FICO scoring finds it of value or not.
And no matter what, some people won't understand why others use CCs.
You're only over extending yourself if you're using more than you can pay.
I still find value in #40 CC.😂
That's whether FICO scoring finds it of value or not.
@Gmood1 wrote:
Yup..its a bubble.😉
And no matter what, some people won't understand why others use CCs.
You're only over extending yourself if you're using more than you can pay.
I still find value in #40 CC.😂
That's whether FICO scoring finds it of value or not.
You are abosolutely right, Gmood. That statement was meant for people who just open cards just for padding utilization. If you actually use them and find value in them, you are just fine. 
@Jnbmom wrote:I have alot more cards than I ever planned to have , however I am keeping my utilization at around 5% which is pretty good with about 100K in credit lines, but I know how quickly you can get into trouble with that amount sitting there.
I know eventually I am gonna probably get rid of some cards and slim down my portfolio while still maintaining low utlization. I won't lie I like the "cushion" of lines in case I get AA from some creditors, although I am not doing anything to bring that on ( although dormant accounts may trigger). Of course 5% utilzation is just that no matter if I have 50K or 100K, and I need to keep it that way.
Same. That's the point of my 2nd reply to the 2nd poster.