- Oct 9, 1999
- 15,031
- 14
- 81
In the form of credit card offers, and I'm wondering if I should keep opening cards for their enticing offers. I'm not talking "Zero percent interest for 3 months!" offers. So far:
Opened Citibank Forward, got $75 for spending $250
Opened Citibank Preferred, got $500 for spending $2,500
Opened Penfed, got $250 for spending $1,000
Opened BofA 321 card, got $300 for spending $500
All of which was money I was going to spend anyway, so I'm not just going out buying things to get to the rewards limits. But I've got a pile of other credit cards
College credit union card, first card so longest credit history
Older Citi card, second longest history
Debit card, not sure if that counts
Travel card for work
Kohls card for coupons
Target card for 5% discount
Now I've got three offers in my mail recently, one for an American Express card that will pay $250 in rewards for spending $2,000, a different American Express that will pay up to $1,000 in rewards for spending $3,000, and yet another BofA 321 Privileges card that will pay another $300 cash back for spending $500 (not rewards).
How long can I keep this up? How many cards is too many? The AmEx cards have annual fees so I'd have to cancel those after a year, how would that affect my score?
Oh, and mortgage is my only debt, don't need a car loan or any other loan i can foresee, only thing I'd think of doing is opening a line of credit against my house in case of something DRASTIC where I'd need that cash fast. Like need-to-pay-ransom-to-Mexican-drug-cartel drastic. Hey, you never know.
Opened Citibank Forward, got $75 for spending $250
Opened Citibank Preferred, got $500 for spending $2,500
Opened Penfed, got $250 for spending $1,000
Opened BofA 321 card, got $300 for spending $500
All of which was money I was going to spend anyway, so I'm not just going out buying things to get to the rewards limits. But I've got a pile of other credit cards
College credit union card, first card so longest credit history
Older Citi card, second longest history
Debit card, not sure if that counts
Travel card for work
Kohls card for coupons
Target card for 5% discount
Now I've got three offers in my mail recently, one for an American Express card that will pay $250 in rewards for spending $2,000, a different American Express that will pay up to $1,000 in rewards for spending $3,000, and yet another BofA 321 Privileges card that will pay another $300 cash back for spending $500 (not rewards).
How long can I keep this up? How many cards is too many? The AmEx cards have annual fees so I'd have to cancel those after a year, how would that affect my score?
Oh, and mortgage is my only debt, don't need a car loan or any other loan i can foresee, only thing I'd think of doing is opening a line of credit against my house in case of something DRASTIC where I'd need that cash fast. Like need-to-pay-ransom-to-Mexican-drug-cartel drastic. Hey, you never know.
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