Second Credit Card

Banjo said:
Too many credit cards can have an adverse effect on a credit score. I have only one major credit card and my credit score is outstanding.
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how many is too many?
 
AliciaM said:
I would look into switching your current credit card to another one that would suit your needs better call the 1800 number on the back of your card and ask what they can do for you with regards to switching it and the interest rate etc OR get the barnes and noble card and close/cancel the one you currently have
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Excellent advice!
 
TXgolfer said:
I would think 5 would be getting close. Even with $0 debt (which is awesome) open accounts can drag down your score a bit.
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not really. but closing the accounts will put a ding on your credit history. so will checking your credit history more than few times a year.
 
Jiro said:
not really. but closing the accounts will put a ding on your credit history. so will checking your credit history more than few times a year.
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Yes really it will...... 5 wouldn't be enough to do it though.
 
Banjo said:
Are you aware that lenders may give your application a red flag if they discover you have at least three credit cards?
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I'm red-flagged as a reliable paying customer. they love me so I get spammed with CC offers on nearly daily basis.

Makes me want to go Amish.
 
Jiro said:
I'm red-flagged as a reliable paying customer. they love me so I get spammed with CC offers on nearly daily basis.

Makes me want to go Amish.
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Oh I know the feeling.
 
Jiro said:
I'm red-flagged as a reliable paying customer. they love me so I get spammed with CC offers on nearly daily basis.

Makes me want to go Amish.
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Same here. I get flooded with those offers daily but I just keep the two I have, one of which has a 21K ceiling.
 
Tousi said:
Same here. I get flooded with those offers daily but I just keep the two I have, one of which has a 21K ceiling.
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I get a trees worth of offers as well. I get pretty mad about it. Have been known to fire off an angry email or 2. Especially to those that send them over and over.
 
TXgolfer said:
I get a trees worth of offers as well. I get pretty mad about it. Have been known to fire off an angry email or 2. Especially to those that send them over and over.
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Same here....such a waste in more ways than one.
 
Jiro said:
how many is too many?
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A good question!

--------------------------
But allow me using a true story experienced by my old friend regarding with his too-many credit cards and a car loan below...

Robert Johnson, Sextoon owner and now deceased, had at least 7 credit cards that he showed me once in person at his home yet he then told me his story... that he used only three of them as I hardly recalled. He didn't have lot of debts either.

Anyway, he later applied for a new Corvette yet he was turned down three times by different dealerships in Austin. He was puzzled since he really made real good money eventually.

Then one day he stopped by in Dallas on his visiting trip where he spotted a corvette dealership there so he decided to give it another try. Once again his application was turned down so he asked the dealer to call his bank (BoA) which then finally approved it. The BoA told the dealer that Robert just had too many credit cards that hurt his application approval chances so he then learned something else.

He eventually showed up driving his vette into these dealerships which he was turned down afterward (later on).

He bought a 50th anniversary Corvette (red convertible), BUT it was the very car he was killed in. Accidental cause? Still an unsolved mystery... and it shocked the deaf community (and me, too). Sad

So anyway, it shew as why it could affect anyone's credit history whoever has too many credit cards no matter even if some of his/her cards weren't used at all. So I would advise to have 2 or 3 cards maximum that would be okay, mere likely.

But how many would be too many remains a question exactly, however.
 
web730 said:
A good question!

--------------------------
But allow me using a true story experienced by my old friend regarding with his too-many credit cards and a car loan below...

Robert Johnson, Sextoon owner and now deceased, had at least 7 credit cards that he showed me once in person at his home yet he then told me his story... that he used only three of them as I hardly recalled. He didn't have lot of debts either.

Anyway, he later applied for a new Corvette yet he was turned down three times by different dealerships in Austin. He was puzzled since he really made real good money eventually.

Then one day he stopped by in Dallas on his visiting trip where he spotted a corvette dealership there so he decided to give it another try. Once again his application was turned down so he asked the dealer to call his bank (BoA) which then finally approved it. The BoA told the dealer that Robert just had too many credit cards that hurt his application approval chances so he then learned something else.

He eventually showed up driving his vette into these dealerships which he was turned down afterward (later on).

He bought a 50th anniversary Corvette (red convertible), BUT it was the very car he was killed in. Accidental cause? Still an unsolved mystery... and it shocked the deaf community (and me, too). Sad

So anyway, it shew as why it could affect anyone's credit history whoever has too many credit cards no matter even if some of his/her cards weren't used at all. So I would advise to have 2 or 3 cards maximum that would be okay, mere likely.

But how many would be too many remains a question exactly, however.
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There you go.......
 
SJCSue said:
I am spilling the beans. I am looking at the Barnes and Noble credit card. The "rewards" would be free gift cards (when I shop everywhere except B&N) and 5% back when I shop at B&N. I am a huge reader so this card will benefit me.
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Forget about the second card. I'm not convinced any 'rewards' are worth having more than one. There may be online sites that offer greater savings.
 
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