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Number of open accounts and financing

Senior Contributor

Re: Number of open accounts and financing

$13,000 shouldn't be an issue if you have other cards with limits around there.

 

What's the highest limit card you have and which lender services it?

 

Note that Care Credit is from Synchrony and they pull TU almost entirely and generally assign a credit limit based on your TU score.  So if you have a very high TU score you can probably get a higher limit.

Message 11 of 16
Member

Re: Number of open accounts and financing

My TU score is similar. I have amex macy’s -2000$, amex-2000$ , amex-500$ , discover -3500$ and Capital one -500$
Message 12 of 16
Community Leader
Super Contributor

Re: Number of open accounts and financing


Lanaastile wrote:
Not yet. I want to take financing in the future for a rhinoplasty. I opened 4 accounts last year and I want a couple more. But I'm worried can this affect for a decision to give me financing in the near future?

You have five credit cards already.  Why would you want a couple more right now?  More cards will not help your score.

 

You have an expensive medical procedure coming up that you need credit for.  I would forgo all further CC aplications simply to increase the chances that you'll have no problem with the RP.

 

PS.  You mention that you have $0 across all cards currently.  You will improve your credit score substantially if you have exactly one card reporting a positive balance.

Message 13 of 16
Member

Re: Number of open accounts and financing

I think that I don't really need more credit cards if you saying I have not a bad chances to get a financing! Thank you all for information)
Message 14 of 16
Senior Contributor

Re: Number of open accounts and financing

I think you're worrying about nothing at this point. lol
I'll tell you why. Unless you're topped out with Synchrony $100k exposure . You'll be fine. When I apped for my Care credit AUG of 2017. I had over 30 new accounts. Less than 2 years old. I asked for $15k and got it instantly.
That's with 12 or 13 accounts reporting balances.

With $13k needed, you're going to need much more. You need enough overall credit to take that $13k under 30% utilization. You may take a temporary hit on your scores if you don't have it.
Shoot for the stars and ask for $30k. They'll counter offer. They'll pull TU.
Good luck.. though I doubt you need it.
FICO 8 Scores EQ=776 TU=783 EX=777 (INQ) EQ=12 TU=11 EX=11
TCL=$600K+ / AAOA= 2.9 yrs / Oldest account = 10.9 yrs
Message 15 of 16
Member

Re: Number of open accounts and financing

Sounds great! Thanks
Message 16 of 16