Too Many New Accounts?

For just about anything you want to get off your chest about credit cards.
5 posts
Meltdownblitz
Centurion Member
Centurion Member
 
Posts: 113
Joined: Fri Jun 03, 2011 11:42 pm
Location: United States

Too Many New Accounts?

Postby Meltdownblitz » Sat Nov 05, 2011 9:14 pm

Will having too many new accounts, like around 5 or 6 within 6 months make banks CLD or close my current accounts? Or a better question could be which banks/CUs are more strict with having too many new accounts besides barclays?(I know they are famous for this which is why I don't have a TL with them.) The INQs aren't such a big deal because I have been trying to split my INQs between the 3 CRAs. Any advice would be appreciated, thanks.


Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sat Nov 05, 2011 11:32 pm

as long as you are using them and paying your bills in full, I don't see why banks or credit unions would care.

naomibatac
Platinum Member
Platinum Member
 
Posts: 57
Joined: Wed Sep 07, 2011 10:46 pm
Location: Philippines

Postby naomibatac » Tue Nov 08, 2011 8:30 am

I don't see anything wrong with 5 or 6 new credit cards as long you are able to manage them well. Your current account will be closed if you don't have any deposit on it for a certain period of time. However, having too many accounts or credit cards is often the cause of uncontrollable credit card indebtedness that leads to people seeking debt help or relief.
[size=60]I don't have any relationship to the credit cards or companies discussed here. I am solely a regular member of this forum with no direct financial rewards from this site. My opinions are solely mine.[/size]

A mom of 3 and currently living life, and working for credit card helpline, a company dedicated to helping people get out of credit card debt.

Meltdownblitz
Centurion Member
Centurion Member
 
Posts: 113
Joined: Fri Jun 03, 2011 11:42 pm
Location: United States

Postby Meltdownblitz » Wed Nov 09, 2011 7:38 pm

I gave in and applied for chase freedom, instantly approved for 3500. Thank you all for your advice.

ivotedale
Centurion Member
Centurion Member
 
Posts: 232
Joined: Sun Jul 17, 2011 11:47 am
Website: http://www.ivotedale.tumblr.com/
Location: Mesa, AZ

Postby ivotedale » Wed Nov 09, 2011 10:32 pm

Congrats on the approval- welcome to the Chase Freedom club!

Easy on the applications now...haha.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: nohnigeMlcp76 and 2 guests