How Much Is Too Much?

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How Much Is Too Much?

Postby kcarter609 » Thu Oct 25, 2012 9:00 pm

Ok, so right now I have the Chase Freedom and Discover IT with $5k limits each. That totals $10k. Income $45k.

The cards I want to get are BCE/BCP... Haven't figured out what will be more beneficial yet, CSP, US Bank Cash+ Visa Signature, and the last one would be PenFed Cash Rewards, but that's my last choice.

Being that the US Bank Cash+ and CSP are Signature cards, they need to have $5k limits. BCE/BCP Will give me a decent limit too, so my question is how much is too much? When will they say you have too much available credit vs. income and start denying me? I want all of those cards, but I don't know if it's doable.

Side note: I have my car payment of $400/month from Chase.

Credit is 760 FICO on Equifax right now, never a late payment.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

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Postby Robrus1 » Thu Oct 25, 2012 11:14 pm

I wouldn't get all of them. If you've had your two 5K cards for a while, I'd say you'd be approved for any of the above cards based on your score and no late payments. Personally out of those listed, I'd get the BCP or the CSP, or you could get BCE and CSP to have only one annual fee and two good cards.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

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Postby FutureBillionaire » Fri Oct 26, 2012 8:51 am

I have 20k more in available credit than what my annual income is. You can get approved for that much with low utilization.

I would recommend that you pick up the BCP. There are other cards that give good rewards on dining and travel that don't require the annual fee that the CSP does. Also, the Penfed Platinum rewards card is a better choice than the Cash rewards card if you are looking to get points for groceries.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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