Huevosman

Hello all,

I am new to the board and have been reading many threads for months now but am just starting to post.

I was wondering if there is a limit on how many cards you can have with each bank for example

Here is what I am working with

Chase

Southwest Rapid Rewards CC
Continental One Pass CC
Best Buy CC
Slate CC

Citi Bank

American Airlines Personal Visa CC
Dividend Rewards MC

Am Ex

Delta Skymiles CC
Blue

Interested in a bunch of other cards that have offers on here, can you please advise me what I should do which accounts I should close?

Thanks

Jimgotkp

BOA:
- First card that I haven't used/seen in a while. Just chilling in the safe..

Chase:
- Chase Freedom
- Amtrak Rewards (Want to cancel this for room for the Sapphire)
- Chase Sapphire (Plan to apply within a week or two for the 100K bonus)

Citi (Just received them):
- Citi AAdvantage AMEX
- Citi AAdvantage VISA

Plan on getting the Chase Sapphire as I said earlier and the AMEX Gold/Platinum. Debating if the benefits outweigh the annual fee of the Platinum card. Since I don't travel much the Platinum might be a huge overboard on my part. It stinks that both Chase and AMEX seem to pull from Exp. which already had a hard pull from Citi a week ago... Not sure if applying for the Chase and AMEX card in a week is the best idea for me too. Having to reach the spending limits on those cards and these two new Citi cards will be hell.

FYI, never close your first account or the oldest ones that have history. Don't close the accounts unless you get denied and call the reconsider line and they accept your offer to close an old card for a new one.

sfoactuary

Citi:

AA Visa
AA Amex
Dividend Select (first card will probably keep forever)
Citi PremierPass

Amex:

Premier Rewards Gold
Blue Cash (second oldest card so also keeping forever)
SPG
Hilton

Chase:

United MP
Slate

I am probably going to start working on a couple new Chase cards. I'm sad that I missed out on the 100k BA card, but am hoping for a shot at 100k on the Chase Sapphire

Huevosman

Thanks for the response, I get so pumped up reading about the different cards to sign up for but have no idea what the credit report stuff means as far as hard pulls. I just submitted an app for the Sapphire Card today but got a 10 day response. This is the first card I have signed up for since I was denied for the Cap One 100k match, which I still don't know why I was my Fico score is 747

Huevosman

Also is there a certain lender that is more lenient? It seems to me that Chase has become a real stickler

MDtR-Chicago

Keep feeling like I have to be the "voice of reason" cooling down these CC threads...

Everyone should understand how credit scoring works:

What's in your Score?

The more hard pulls you have and the more recent they are, the riskier you look and the less likely you are to be approved.

These threads are peppered with posts by people who plan to do things that are expensive and/or irresponsible, such as:

• Carrying a balance, due to lack of actual cash resources
• Taking a 3% fee balance transfer and thinking it will count as a purchase
• Running cards up to full utilization every month and letting that post as a statement balance
• Getting lots of credit cards right before needing a car loan or mortgage refinance
• etc. etc.

Before getting into this game, each person should have a rock solid understanding of how credit works and exactly what the expected outcome of each application wil be.

Schutzee

Years of heavy churning hasn't hurt me. I have substantial credit limits and my real FICO is 796. I did a refi with my Credit Union in July 2009 and had no problem getting 10 year fixed rate mortgage @ 4% Of course, I never pay late and always pay in full, and utilization is low. I have the following as of today:

BUSINESS
BANK BRAND

AMEX DELTA
CAP 1 VENTURE
CHASE SWA
CHASE PRIORITY
CITI AADVANTAGE
BMO DINERS
US BANK FLEXPERKS

PERSONAL

AMEX STARWOOD
AMEX HILTON
AMEX DELTA
AMEX MEM REWARD
BARCLAYS LL BEAN
BARCLAYS TRAVELOCITY
BOA PLATINUM
BOA WORLDPOINTS
CAP 1 VENTURE
CITI AADVANTAGE
CHASE CONTINENTAL
CHASE MARRIOTT
CHASE PRIORITY
US BANK FLEXPERKS

MJLouise

Is there a strategy to getting more than one Barclay's? I've gotten the US Airways, and am eyeing others.

Also what's the best / cheapest way to monitor who pulls from what agency?

partizanka

With all the cards offering first year fee waived I wonder if you guys close all of the cards with fees a year later. How bad it is for your credit score? Is it better to close several at one time? The only thing I know is not to close your first cards, because it may affect your credit history...

AlohaDaveKennedy

Try adding an AirTran (Barclays) to pair with your SWA on the premise of an eventual merger of programs.@:-)

AlohaDaveKennedy

Why no Citi Hilton - you are leaving money on the table?

AlohaDaveKennedy

Some issuers track churning as the accounts remain on the credit report, but the process does not seem to effect the score. Might effect whether an issuer wants your business though.

AlohaDaveKennedy

Well said. You have to manage your appearance to the issuers. Perception is reality.

zutmin

Citibank
AA Personal Visa
AA Business (Pending approval)
Citi Hilton Card

American Express:
Premier Rewards Gold Card
HHonors Gold Card
SPG Card
JetBlue Card
Delta Gold Skymiles Card

Chase
British Airways Visa Card
Chase Sapphire Preferred Card


Capital One
Personal Cap 1 Rewards Visa
Business Cap 1 Rewards Visa


I hope to eventually get the Chase Hyatt Card and transfer my Chase Sapphire Rewards to Hyatt.

My wife has nearly all of the cards I do, but she has not yet applied for the Chase Sapphire Prefrred. If I am able to get the extra 50K bonus on that card I will apply for my wife as well. 200K Hyatt points plus 4 free nights from the two Chase Hyatt Cards I hope to get = A boatload of Hyatt stays for free

Schutzee

The bonus doesn't justify the hard pull I'd like to get Chase Hyatt or Sapphire in a few months.