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re: Any negative for having too many CCs open?
Posted on 7/25/14 at 8:35 am to htownjeep
Posted on 7/25/14 at 8:35 am to htownjeep
quote:
760 and up is all the same as far as mortgage rates go. You sound like you're in great shape.
Yep. Pretty much anything over 750 is lagniappe. You don't get an award for having the highest credit score. Might as well utilize it.
Mine seems to bounce between 730-780 and I have a fairly extensive credit history and 8 lines of revolving credit open(2 of which are business cards).
If I wanted to buy a house, since I'm already playing the CC game, I'd just hang up the apps 1 year before purchasing.
Like I said earlier, if you only have 3 lines of revolving credit open, score of 800+, and a history of solid credit, 1 CC won't hurt you one bit and will probably even tack on a few points by the time 8 months rolls around.
1
Posted on 7/25/14 at 9:09 am to LSUAfro
to the OP, you may want to sign up for a free credit reporting service to keep track of your score. I use credit karma, and while it is only reporting from one company, it can at least give you a basis to see how your score is reacting based on the cards you apply for.
As others have said, you really have to watch applications when you are planning on getting a large loan for a house or vehicle. $500 extra in points is never worth that extra point in a mortgage.
Welcome to the credit card game, you will become addicted like a lot of the posters in this thread!
As others have said, you really have to watch applications when you are planning on getting a large loan for a house or vehicle. $500 extra in points is never worth that extra point in a mortgage.
Welcome to the credit card game, you will become addicted like a lot of the posters in this thread!
This post was edited on 7/25/14 at 9:09 am
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