How many credit cards do you have?

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kevnich2

Platinum Member
Apr 10, 2004
2,465
8
76
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)

Oh holy h*ll that's alot of cards. I bet the credit card lenders weep when you enter. Lol. You seriously have that many credit cards??
 

LukFilm

Diamond Member
Oct 11, 1999
6,128
1
0
Apparently, I don't have 60 cards, only have 52 :( I lose...

VISA: 25
MC: 12
AMEX: 11
Discover: 2
Store: 2
 

freegeeks

Diamond Member
May 7, 2001
5,460
1
81
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.

I read your thread on fw :D

you must have someone full time to manage all the cards
 

Captante

Lifer
Oct 20, 2003
30,316
10,814
136
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.



 

Azurik

Platinum Member
Jan 23, 2002
2,206
12
81
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.
 

dullard

Elite Member
May 21, 2001
25,476
3,976
126
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.
Don't say that. I just got flamed for saying the same thing.

 

shocksyde

Diamond Member
Jun 16, 2001
5,539
0
0
dullard...c'mon now. He basically agreed with both of us. Can't we just say we're both half right/wrong?
 

shocksyde

Diamond Member
Jun 16, 2001
5,539
0
0
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.

It's already been explained in the thread. "Utilization" is 30% of your score according to THIS LINK. Utilization is the percentage of your total credit lines that you're currently using.

I don't know why, but everytime someone tries to argue this they say their broker or loan officer told them so. Why are they so uneducated about these things? Do they misinform people for their own gain in some way? This isn't a rhetorical question, I really don't know.
 

dullard

Elite Member
May 21, 2001
25,476
3,976
126
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?
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.

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. ;)
 

Tiamat

Lifer
Nov 25, 2003
14,068
5
71
1. USAA Platinum
2. Banana Republic
3. Bank of America Gold Debit

Thats all I need.
 

Azurik

Platinum Member
Jan 23, 2002
2,206
12
81
Originally posted by: dullard
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?
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.

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 think he mistaked you for the person he was debating this with, Captante.
 

dullard

Elite Member
May 21, 2001
25,476
3,976
126
Originally posted by: Azurik
I think he mistaked you for the person he was debating this with, Captante.
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.

 

Journer

Banned
Jun 30, 2005
4,355
0
0
why the hell does anyone have more than 5 cc's?

i have 1 CC, 1 personal debit c, and 1 business debit c

i serriously cant see why anyone would need more than 5 cards

1) personal CC
2) personal DC
3) biz CC
4) biz DC
5) other CC...maybe AMEX or Discover or something else weird like that

what the hell else do you need?
 

paulney

Diamond Member
Sep 24, 2003
6,909
1
0
Macy's, 2 Citi cards (only one of them is used - the one with cashback, the one with points just sits in the safe), AmEx Business (via Costco membership)
AmEx has some revolving credit on it, but it's usually paid in full by the end of the billing period. The other's don't have any balance on them.
 

dullard

Elite Member
May 21, 2001
25,476
3,976
126
Originally posted by: Journer
why the hell does anyone have more than 5 cc's?

what the hell else do you need?
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.

 

oogabooga

Diamond Member
Jan 14, 2003
7,806
3
81
I have 3.

I love my AmEx Blue, even though I think my citibank Plat Dividends gives better everything.

also : Azurik shouldn't be allowed to participate in these threads like these unless it includes "and one lucky poster will get to use one card from my collection for one day!"
 

pcslookout

Lifer
Mar 18, 2007
11,958
154
106
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.


Credit card companys don't go after these people either because its a waste of money for them but they still get a lot of collection calls constantly. Though these people get bad credit for a long time and it could hurt them in the long run.
 

Daishiki2

Junior Member
Jul 11, 2007
13
0
0
Just five. Visa Rewards, Amex for Costco, an old Visa to maintain length, and two clothing stores for the discounts/coupons. I was dumb and cancelled my oldest ones.
 

dennilfloss

Past Lifer 1957-2014 In Memoriam
Oct 21, 1999
30,509
12
0
dennilfloss.blogspot.com
Two MasterCards: one for me (regular use, I pay that bill) and one for me as an add-on user to my ex-wife's account (meaning she pays that bill).

Edit: Make that three. Just remembered the Sears credit card that I only used once to get the rebate.