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Old 09-29-2016, 05:50 PM   #21
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Originally Posted by karen1972 View Post
I'm running at 820-830 and my credit report says I should have more lines of credit, it recommended 18. 69 seems maybe a bit much..but for me thats just because having to track them all and ensure no fraud is too much of a hassle for me.

If they are major credit cards I'd just keep them, I have a discover card I used once in the last 8 years but has a decent line of credit so its a plus. However, if you have a store credit and you use it it could actually be a minus as they look at overall and individual limits.. so if you have a $500 store card and happen to charge $400, if they happen to run the report at that time (since its only a snapshot), it would show you are above a high water mark and could cost you a few points... obviously anything above 780 is really the same..but it seems you'd like to try for 850 so just something to keep in mind.
I should clarify that I have 69 total accounts, but 50 of those are closed. I "only" have 19 open at the moment. I play credit card games (currently travel hacking and tradeline piggybacking) to earn a few thousand dollars extra per year so that is why I have so many.

It's not something I would necessarily recommend; I was just using my data as a counterexample about the number of open accounts.

I don't really care what my credit score is. I'm retired, debt-free except for my credit card games, have no plans to borrow money for anything, and I think mine is high enough to avoid higher insurance rates on the insurance that I carry.
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Old 09-29-2016, 07:46 PM   #22
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Originally Posted by Bamaman View Post

And I could care less (within reason) what my FICO score is, as I don't intend to ever borrow any money in the future.
I'm with you.
I'm not saying it's the case with anyone here @ ERF, but I've read articles in the past (may have been SmartMoney magazine) where people became obsessed with their credit rating, & the vast majority of the time, the people that obsessed the most, were those that didn't really have to worry about it.
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Old 09-29-2016, 10:26 PM   #23
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We started opening cards for the sign up bonuses last year and closed them all after a year. We did maybe 3 each over the year and it never seemed to make much of a change in our credit scores. I just checked Discover's FICO score table for the past year and it doesn't show any major changes for card opening or closing events.
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Old 09-29-2016, 11:03 PM   #24
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When I had no credit score, I opened a secured credit card, and it does count towards your credit score. Three months or four months after having it, I went back to the same bank and said I wanted a "real" credit card.
They gave me one, and took back the secured one.
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Old 09-29-2016, 11:05 PM   #25
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Originally Posted by daylatedollarshort View Post
We started opening cards for the sign up bonuses last year and closed them all after a year. We did maybe 3 each over the year and it never seemed to make much of a change in our credit scores. I just checked Discover's FICO score table for the past year and it doesn't show any major changes for card opening or closing events.
+1
Same thing, although I think I noticed when I opened a new one that my score slipped from 813 to 793 a couple of months ago, but has since climbed back up a few points.
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