Anybody here only have one credit card? If so what is your credit score?

bada bing said:
.

There is a non-credit difference between a 760 score and a 850 score. People with scores at the very top (above 820) get a lot less unsolicited credit card offers (junk mail). This is because above 820 indicates a "never pay credit card interest" and "very seldom open new accounts" behavior. In order to have a perfect FICO8 850 score you have to have the majority of accounts at zero balance with an overall utilization under 10%, an average age of accounts over 8 years and no new credit inquiries in the last year.
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I can't remember the last time I paid any CC interest but am 100% sure it's been more than 20 years ago (probably more like 30 years). I can't recall the last time I open a new CC account but that is probably at least 20 years ago too. I may have exceeded the 10% credit usage a few times in the past 20 years but I still paid the balance in full at the end of the month... And all of my CC's accounts have been in existence for 20+ years. The only odd thing I can think of is, I've had two CC fraud cases (one for 2k and one for 4k) in the past ~20 years and new cards were issued in both cases... Maybe that counts against my credit score and keeps me down around 800......:confused:
 
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Only one. No idea if I even have a score. Always heard you lose your score once you stop borrowing which has been 20+ ish yrs or so ago...? For what reasons would you want to know your score other than the insurance one that is quite interesting. I recently bought a newer vehicle and thought the insurance was on the high side and even went in to discuss which didn't change anything. I think we've only had like two diff ins co ever. Thank the Lord, we've not had any claims for many yrs either.

Edit: Thinking about this, I probably very rarely hit $1500 for the whole year on my card! DW would be different.
 
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One credit card. I don't know what my credit score is.
 
plex said:
My score floats near 800, but it can't go over that because I've never had a mortgage, and a mortgage history is one of the big factors that go into a score if you really want to max it out.
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I've never had a mortgage and mine is over 800.
:confused:
 
No. Have four credit cards. I like the cash back or the points depending on the purchase.
 
I've cut down to four no-fee cards. Since my travel plans are on hold for a while, I canceled any rewards cards with annual fees.
1. My general purpose card is Discover.
2. I use a rewards Chase card for all automatic repeating charges. I like to keep the statement uncluttered so I can quickly determine everything is as it should be.
3. Costo card because of DH.
4. Visa with free museum benefits. This is a backup.
 
I have two credit cards. One is used for about everything and the other is only used for a couple of small monthly recurring subscription payments. Pay in full every month. I have no idea what my credit score is. Have not checked it in years.
 
My credit score is good, because I don't want to pay interest or fees, not because I care the number is 820 or 800 or 850.

But the score itself is only part of the story, when checking renters credit, I would always look at the history in much greater detail. It would show slow payments or missed payment.
Much more revealing than just a score of 700.
 
We have 5 between us and credit score bounces around 820. I don't think the difference between say, 800 and 850 would often save you a nickel on anything.

No expert but here are a few of the things that affect credit scores: Missing a payment definitely lowers scores. QUICKLY adding or subtracting available credit hurts you. Oddly, adding available credit will typically raise your score - eventually IF you don't use it. Paying off your balance BEFORE it becomes due - IOW the CC bill you receive is ZERO because you either have a credit OR you sent a check that got to the CC company before they calculated how much you owe at end of month - these strategies HELP your score. IOW, it's fine to pay off your balance due before any interest is added BUT you'll never get the top score that way. Paying interest will hurt your score, of course. Having higher average charges against your total available credit hurts you - even if you always pay it off on time.

Remember, I'm no expert so YMMV.
 
I cancelled and Amex travel card last month. I was not willing to pay for the card until we start traveling internationally again. Earlier in the year I dropped another premium card.

I noticed that our credit score dropped from 850 to 832. Not that we could really care.

We are in the process of re-evaluating our premium credit cards because there have been changes in benefits and sign up bonus offers.

We are always careful to have at least one card that does not charge the hidden 2-3 percent service fee on FX transactions.
 
jr6035 said:
One card. 780-790. But we have no mortgage or any other debt.
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SWAG (and remember, I'm no expert) you could raise score above 800 just by upping your credit limit on your one card. That way, your % credit "used" would actually go down, even though, numerically, your EOM bill would be the same. You'll take a brief hit by asking for more credit, but make it up a few months later. OR, if you really want to go the distance, you could start sending the CC co. a check "mid month" for enough to more than cover whatever you think you will have charged by the time they figure your bill. I'm WAY to lazy to do the later and have done the former on all my cards - well, not quite true. All the other cards have done it FOR me before I had to ask IIRC. YMMV
 
I have no idea what my credit score is. Must be OK as I keep getting new card offers.
 
Not sure. 15, maybe 20. About half and half store cards and real CCs. One Discover for 90% of purchases, but use another 4 or 5 fairly regularly for specific purposes. CL is also well over 6 figures, and CR tends to be a bit above 800. It dropped a bit recently when we refi'd, but it's on it's way back now. Tales me about an hour while watching tv to check and pay them all once a month, and alerts on the main ones would tell me if anything untoward was happening.
 
Koolau said:
SWAG (and remember, I'm no expert) you could raise score above 800 just by upping your credit limit on your one card. That way, your % credit "used" would actually go down, even though, numerically, your EOM bill would be the same. You'll take a brief hit by asking for more credit, but make it up a few months later. OR, if you really want to go the distance, you could start sending the CC co. a check "mid month" for enough to more than cover whatever you think you will have charged by the time they figure your bill. I'm WAY to lazy to do the later and have done the former on all my cards - well, not quite true. All the other cards have done it FOR me before I had to ask IIRC. YMMV
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I just have the credit card cycle end 4 days into the new month and payoff the balances at the end of each month. This way there are typically minimum amounts which are sent to the credit places, which is better than no balance.
One is still only making one payment on each card at the same day every month, which I do online.
Not too difficult.
 
I’m getting ready to drop PenFed entirely including their credit card.

4% on the Costco Citi card is good enough for gas.
 
3 cards - $25K limit for each. Not really necessary as never carry a balance. But keep the lines just in case of catastrophe. FICO hovers at ~830 every month.

PSA: For couples, when your credit cards are issued under one primary credit file, if the primary spouse passes, the card company will cancel BOTH cards. Went through this with my mom who had two cards, both issued under my dad's credit file. When my dad died, and we notified the card company of his death, they immediately cancelled her card as well - their policy, no debate. So we held off notifying the second card company until she could get another card issued under her name alone. Otherwise, she would have been left without a credit card at an already stressful time. Lesson learned: make sure your credit card is issued under your own credit file, not your spouse's, if possible.
 
Wondering if the OP got the answers he/she wanted? Usually when a question is asked the poster comes back to comment.
 
ERD50 said:
What was the question (see my post #50)? What answers did you get?


-ERD50
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I love to keep my accounts super simple. I thought about going to one credit card for this reason. Several folks here did so and have a good credit score.
 
FANOFJESUS said:
I love to keep my accounts super simple. I thought about going to one credit card for this reason. Several folks here did so and have a good credit score.
Click to expand...

OK, thanks. The question was a little cryptic without the background of wanting to get down to one card (versus going from none to one).

I also like simple, and have consolidated as many accounts as I felt comfortable with (I still want money at two places, in case one gets hacked or other disaster and goes off-line for a while). And for a similar reason, I keep more than one card, but that's just my preference. One card is certainly an option.

-ERD50
 
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