Really wish I knew.. She was one of those fly-by MyFicoers... when she didn't like the consensus advice she disappeared and never came back... Really wanted to know how that went...... Pretty sure she re-appeared under a different name but with the same problem.... that account too disappeared... Know most of us here would have tried to help her out of the ditch she got herself into because we are like that...
-J
@Anonymous wrote:My fico is 800+ but i'd like to get some new accounts for promotional offers and rewards i'd gain for my day to day spending. Just wondering if having too much revolving credit will in the future affect me applying for a mortgage? Or if too many credit cards will negatively affect my score. Average age of accounts is 9 years. I currently have 6 credit cards, would like another 4. just cause I can. any thoughts?
1. The less new credit you get, the higher your scores will go. Your age of youngest account, and your average age of accounts, will both be impacted negatively by the addition of cards, and the inquiries cost you some points too.
2. I don't think having 10 cards would be a problem, as that number appears to be in the zone that's considered good in the FICO algorithms.
3. Of course it depends on what you mean by "in the future". If a mortgage application is more than a year down the road it probably won't create any drastic problems, but IMHO your scores will be lower than if you had abstained.
So the bottom line is
-yes it will negatively impact your scores, but your scores are strong enough that they can take it
-i wouldn't add cards 'just because i can', but it's not the end of the world to add some nice cards you would enjoy having
