gotta stop! within the past two months between cl increases on existing cards and 4 new cards - I've somehow managed to get another 31K in credit - bring my total cl to 56.5K i now have - gulp - 8 credit cards, one amex charge card and one retail store card. I KNOW that it's more than enough - but somehow - I find myself reading over all the posts on the board - and i find myself saying - "hey - maybe i should apply for Juniper," or "hey - I got citi, chase, bank of america and amex - I DESERVE MBNA!" or "hmmm, wonder if I should take a chance on First USA!" But another voice is saying - yo, buddy - you got more credit than you need - give it a rest - jeez!!!" I need help
Why wouldn't it be real? Credit is so easily disbursed these days I wouldn't be surprised it one CCC gave him a 31K CL, much less four. Of course, all the inquiries would kill his score. Dani
I was wondering if this was a joke at my earlier post. And $31K, in 4 months, even my unemployed, overspending butt didnt spend that much. But I am not judging in anyway.
Roni, why do you ask that? Seems perfectly logical to me 'cuz I'm in the same boat! <G> I don't even have a job (on SSD) and I alone have over $43,000 in credit - throw in my hubby and we're talking over $65,000 in available credit. But I keep eyeing those 0% offers and wanting to apply but after having been shot down by Juniper, my tail is still inbetween my legs and I'm holding off on getting declined for anything else for a while... but ooooh.. it's so tempting! I love to see the screen say 'approved'.... just makes my day! But of course, d'eclined' just makes me wanna go get a Pizza Hut pizza and drown my sorrows in cheese and veggies. Ozzy.
Roni, Isn't he referring to additional credit established? I thought when he mentioned the additional credit line increases and four new cards that he was referring to total credit being 56.5K, not his debt. Dani
You are right. Since I got comcast internet service the type on this board is so small, I can barely read it sometimes. I understand the post now. And i can certainly relate. I stand corrected.
err, i am "for real." and i didn't say i spent 31K - that's just what received in credit or cl increases. It did hurt my score - 2 inquires on X and 2 on TU. i did it for the damn bt offers - just too enticing. What I was trying to say is - that's its so darn addictive - applying online I mean.
Mark, Since you have all of these new credit lines I would be happy to transfer my 9K BT to you at 3% interest, annually, not monthly. Dani
Roni...I don't think he owes that much, but rather now has that much available. I think Christi ended up getting close to that within a short time after her reports were cleaned...unless I'm mistaken. Its possible, IMHO. L
It's possible. My last four months have gone like this: Generations 25k MBNA 25k LOC MBNA 15k cc BofA 20k cc Citi 12k AMex Delta 20k That's 117k in additional credit in four months. I got a little excited once my scores got over 700 for the first time. Of course, the inquiries and average age of accounts will soon be killing my scores, but I have enough credit to last me for a while. I think I had good luck here because Generations is hidden, and the others still aren't all reporting yet.
I did it, too, Wolverine and Mark. I added $34K in available credit from December to March. My total now is over $57K. I am now getting declined due to "too much credit for stated income", which is fair enough IMO. If I actually owed 20% of my total available, I'd be in serious financial trouble. I'll close some of these lines when they hit the 24 month mark.
My initial drop in scores due to inquiries (and slightly higher debt) was approx 20 points on both X and TU - Experian down to 678. TU went down to 704. However - the cards have not yet started reporting - and i bt'd on two of them. i'm now trying to pay off the balances as quickly as I can - because I suspect I'll see another drop in scores once the cards post... on the other hand my total debt ratio will be better - so - who knows?
there were 2 inquiries on TU and 2 on Experian. on the other hand - my balances were also updated and I had about 1K more debt - so it could have been a combo thing - higher debt and new inquires. Still haven't guite figured out how much inquires effect your score.
I only had 16000 of Revolving Credit Limits in June of last year. Between July and August with 4 new cards I went up to 70,000 of Credit. Now with two CL increases on Citi over the past few months I now have $74,000.
I added over 62k in additional credit lines, since last July & December. Bringing my total to approx. 140k. I went on the "wagon" as a New Years resolution!!!!! Recent Equifax scores 726 & 716, 20% utilization, credit file since 1985, no derogs.
