Sevenfeet wrote:Wow, that's quite a wallet with 16 cards (TWO US Bank cards???). I thought I had gotten a bit silly at 8. You can tell when someone's trying to round out the pack when you see a JCB card in the mix (and they don't live on the west coast and I cannot tell if you're Japanese or not ). I think you'd probably would have a Diners Club if they still offered personal cards.
You're story is still an interesting one since there seems to be a floor as to how much an app spree will damage your credit scores as long as everything else is ok (no baddies, utilization ok).
Thanks, yeah I guess I was just trying to have a nice comprehensive card portfolio. Those were the ones I was approved for in 2012, also have open my oldest card, a 1st Financial Bank Visa (which is now a 2% everything Visa, thanks to Bksuper's advice), a Paypal Smart Connect, and a Discover More. I would DEFINITELY have a Diner's Club personal card if they still accepted new apps, just to have one. I know, I'm strange . That JCB card turns a lot of heads cause most people in my region have never seen or heard of them. I'm not Japanese, my roots come from both Latin America and Europe, but I had to have it just because.
As far as my own experience goes, the score drops from the truckload of inquiries hasn't been as drastic as many make it out to be, but the simple fact of the inquiries is worse. If I get denied for a CLI, usually the number one reason listed (sometimes the sole reason) is too many inquiries. But my given FICO score is just fine, they just don't like the amount of inquiries. I think thats a pretty strong signal for me to just stop racking them up for now and just let all these accounts mature. I'm really pleased with my progress last year and have learned so much about credit thanks to this website and a couple others I visit from time to time. Have even helped a few coworkers who were getting cornholed by the big banks.