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KB · 09-04-2004, 04:24 PM

John......if you get a copy of your credit report you'll probably see that you are downgraded (FICO score) becasue you have too much outstanding credit. *And churning of cards, which may lead to the same too much outstanding credit. *

I have 3 main cards: *Visa from my credit union which pays 1% deposited into my checking account annually. *That is my primary card. *Discover I use only at Sam's club and American Express I use only at Costco. *

I have a 12 month free interest for some furniture I bought in March and just opened a Kohl's account for the 10% off initial purchase and monthly coupons. *I'll pay off and close the furniture account before the 12 month is up. *

I don't like having this many cards, but as long as my FICO score is still in the 800 range, I'm not going to worry too much about all the outstanding credit. *
I actually want to open 1 more card just for the discounts (Mervyns), I'm thinking about it.

I pay all off as soon as I used them, excepting the furniture. *

I think having 2 cards is probably a good number.

09-04-2004, 04:24 PM	#14
KB Thinks s/he gets paid by the post Join Date: Jun 2004 Location: No. California Posts: 1,090	John......if you get a copy of your credit report you'll probably see that you are downgraded (FICO score) becasue you have too much outstanding credit. And churning of cards, which may lead to the same too much outstanding credit. I have 3 main cards: Visa from my credit union which pays 1% deposited into my checking account annually. That is my primary card. Discover I use only at Sam's club and American Express I use only at Costco. I have a 12 month free interest for some furniture I bought in March and just opened a Kohl's account for the 10% off initial purchase and monthly coupons. I'll pay off and close the furniture account before the 12 month is up. I don't like having this many cards, but as long as my FICO score is still in the 800 range, I'm not going to worry too much about all the outstanding credit. * I actually want to open 1 more card just for the discounts (Mervyns), I'm thinking about it. I pay all off as soon as I used them, excepting the furniture. * I think having 2 cards is probably a good number.