I was just thinking...

Discussion in 'Credit Talk' started by ero2, Sep 7, 2003.

  1. ero2

    ero2 Well-Known Member

    I make 12,000 a year, and I have 33,200 dollars in available credit and am an AU for a 10,000 discover, could this much available credit ever hurt me if I am applying for a car loan in the future? I was just wondering because it seems plausable that this much available credit may look bad based on my income. I was also wondering if 5 cards is a good number of cards. I hope to only carry a balance in an emergency and 4 of these cards are for carrying balances and I have 1 everyday card, is it good to have 4 cards available in case someone JACKS my rates up, or if I only carry a balance every couple months and it usually (at least for right now because my monthly expenses are low) is only around 400$ is it worth having this many. I got all of these cards with good rates planning on keeping them FOREVER as to have all relatively aged accounts for when I apply for my mortgage in about 6 years, does my plan sound alright or should I close out some of my available credit?

    I know I have asked this question before but my available credit and cards have changed so...thanks!
     
  2. ero2

    ero2 Well-Known Member

    also, sometime in the next couple of months as my accounts age I will close my Crap one card (my second oldest) but my best buy is only one month younger and I am still an AU on a discover with 16 yrs perfect history so I will be losing 3000 in available credit and will be combining 2 of my chase cards and cancelling my amex gold charge, which is how I am now at 5 cards.
     
  3. GEORGE

    GEORGE Well-Known Member

    I "HAD" $300,000+ WITH H/H INCOME LESS THAN $50,000!!!
     
  4. GEORGE

    GEORGE Well-Known Member

    CAR LOANS ARE SECURED BY THE CAR...they are different than credit cards...
     
  5. GEORGE

    GEORGE Well-Known Member

    5 cards is NOTHING...
     

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