K1052
Elite Member
- Aug 21, 2003
- 47,997
- 37,170
- 136
Originally posted by: Azurik
AMEX Centurion (Black)
AMEX Platinum
AMEX Gold
AMEX Gold Rewards
AMEX Blue
AMEX Green (Corporate)
AMEX Premium Cash Rebate
AMEX Fidelity Gold
AMEX Starwood
AMEX Delta Gold
Advantage Platinum Business
BOA Worldpoints
BOA Choice Hotels
BOA Platinum
Capital One (first credit card at 18)
Chase United Personal
Chase United Business
Chase Sony Rewards
Citi Diamond Preferred Rewards
Citi Platinum Select
Citi Professional
Citi Business Premiere Pass
Citi Hilton HHonors
Discover Cashback Bonus
Disover Miles
Discover Gas
MBNA/FIA Charles Schwab
MBNA/FIA Merrill Lynch +AMEX Centurion (Black)
Providian PayPal
Store Card (GAP)
Store Card (j.crew)
Store Card (Banana Republic)
Store Card (American Eagle)
Store Card (Old Navy)
Wachovia Bank (something)
Store Card (GAP)
Store Card (j.crew)
Store Card (Banana Republic)
Store Card (American Eagle)
Wachovia Bank (something)
Originally posted by: Azurik
*snip*
Originally posted by: Azurik
AMEX Centurion (Black)
AMEX Platinum
AMEX Gold
AMEX Gold Rewards
AMEX Blue
AMEX Green (Corporate)
AMEX Premium Cash Rebate
AMEX Fidelity Gold
AMEX Starwood
AMEX Delta Gold
Advantage Platinum Business
BOA Worldpoints
BOA Choice Hotels
BOA Platinum
Capital One (first credit card at 18)
Chase United Personal
Chase United Business
Chase Sony Rewards
Citi Diamond Preferred Rewards
Citi Platinum Select
Citi Professional
Citi Business Premiere Pass
Citi Hilton HHonors
Discover Cashback Bonus
Disover Miles
Discover Gas
MBNA/FIA Charles Schwab
MBNA/FIA Merrill Lynch +AMEX Centurion (Black)
Providian PayPal
Store Card (GAP)
Store Card (j.crew)
Store Card (Banana Republic)
Store Card (American Eagle)
Store Card (Old Navy)
Store Card (GAP)
Store Card (j.crew)
Store Card (Banana Republic)
Store Card (American Eagle)
Wachovia Bank (something)
My FICO score currently is about 768, planning to apply for 10+ cards by the end of this year.
Originally posted by: shocksyde
Originally posted by: Captante
1 x Visa
1 x Mastercard
1 x Amex
1 x Macys
1 x Firestone
And its not a false perception that having too many CC's is a bad thing ... when a credit report is run, all CC accounts are counted against you as if they are charged to the credit limit, even if they have a zero-balance.
I would love to know where people get this horrible information. Everything you said is completely false. Please do your research before spreading lies.
Originally posted by: Captante
Originally posted by: shocksyde
Originally posted by: Captante
1 x Visa
1 x Mastercard
1 x Amex
1 x Macys
1 x Firestone
And its not a false perception that having too many CC's is a bad thing ... when a credit report is run, all CC accounts are counted against you as if they are charged to the credit limit, even if they have a zero-balance.
I would love to know where people get this horrible information. Everything you said is completely false. Please do your research before spreading lies.
A couple years ago when re-mortgaging my house several different banks & finance companies told me the same thing, so either they were all mistaken or you are.
If you have a source to show that this information is incorrect other then you saying so, please provide a link ... I'm happy to be corrected if I'm wrong.
Don't say that. I just got flamed for saying the same thing.Originally posted by: Azurik
You both are partially correct. Banks will get worried if you have a lot of credit, but they don't view it as if you were charged to the credit limit. The reason they are apprehensive is because one day you can go ballistic and rack up a ton of debt if you wanted to.
Having a lot of credit isn't a bad thing, especially when your cards each have $20,000 - $50,000 credit lines. It shows lenders trust you with that amount of credit.
Originally posted by: Captante
Originally posted by: shocksyde
Originally posted by: Captante
1 x Visa
1 x Mastercard
1 x Amex
1 x Macys
1 x Firestone
And its not a false perception that having too many CC's is a bad thing ... when a credit report is run, all CC accounts are counted against you as if they are charged to the credit limit, even if they have a zero-balance.
I would love to know where people get this horrible information. Everything you said is completely false. Please do your research before spreading lies.
A couple years ago when re-mortgaging my house several different banks & finance companies told me the same thing, so either they were all mistaken or you are.
If you have a source to show that this information is incorrect other then you saying so, please provide a link ... I'm happy to be corrected if I'm wrong.
You are correct that your score is usually unaffected by having more cards. It is affected if you have two few cards. It is affected if you have too much debt and your credit used/credit available ratio is too high. But in most cases, # of cards has no impact. On all that you are correct.Originally posted by: shocksyde
dullard...c'mon now. He basically agreed with both of us. Can't we just say we're both half right/wrong?
Originally posted by: dullard
You are correct that your score is usually unaffected by having more cards. It is affected if you have two few cards. It is affected if you have too much debt and your credit used/credit available ratio is too high. But in most cases, # of cards has no impact. On all that you are correct.Originally posted by: shocksyde
dullard...c'mon now. He basically agreed with both of us. Can't we just say we're both half right/wrong?
I just think you are incorrect when you imply that # of cards has no OTHER impact for any reason at all. I think you are overlooking the fact that credit score isn't the only variable looked at when making decisions.
So, yes, I think you are half right/half wrong.
On this issue, I don't think I said anything wrong, at least not knowingly. If you want me to be half wrong, ask me a car or audio or photography question. I'm certain to get that question wrong.![]()
I guess it could be interpretted in a way that since I was debating with shocksyde that I necessarilly agreed with all of what Captante said. That wasn't my intent.Originally posted by: Azurik
I think he mistaked you for the person he was debating this with, Captante.
Most people don't need more than a small handful of CCs. But some are lured by a free $12,000. I myself like to get free money now and then. But I keep it minimized to be easy to handle and to keep any impact on my credit score or credit report to a low level.Originally posted by: Journer
why the hell does anyone have more than 5 cc's?
what the hell else do you need?
Originally posted by: Azurik
Originally posted by: Captante
Originally posted by: shocksyde
Originally posted by: Captante
1 x Visa
1 x Mastercard
1 x Amex
1 x Macys
1 x Firestone
And its not a false perception that having too many CC's is a bad thing ... when a credit report is run, all CC accounts are counted against you as if they are charged to the credit limit, even if they have a zero-balance.
I would love to know where people get this horrible information. Everything you said is completely false. Please do your research before spreading lies.
A couple years ago when re-mortgaging my house several different banks & finance companies told me the same thing, so either they were all mistaken or you are.
If you have a source to show that this information is incorrect other then you saying so, please provide a link ... I'm happy to be corrected if I'm wrong.
You both are partially correct. Banks will get worried if you have a lot of credit, but they don't view it as if you were charged to the credit limit. The reason they are apprehensive is because one day you can go ballistic and rack up a ton of debt if you wanted to.
Having a lot of credit isn't a bad thing, especially when your cards each have $20,000 - $50,000 credit lines. It shows lenders trust you with that amount of credit.
