How many credit cards is too much to affect your credit score?
Q. I am going to ask another question regarding which CC should I add to my credit card profile to add to my rewards. I have excellent credit, pay my balance in full each month, and I use my CC to pay for everything I can to rack up points/miles etc. I am at a point where I want to increase my points and miles so there are some options. The question is, what is too much. I basically share a VISA with my wife, and have an older VISA that i keep. I realize that you should keep older credit cards for history. I want to add at least one AM/EX either the Starwood points, or the Delta Miles. I also might switch our Cap1 card to the signature to get 2 points for every $1 spent, instead of 1.25 for $1. That is a new card, not a switch. And… [cont.]
Asked by ronnin72 - Mon Mar 12 21:00:44 2007 - - 6 Answers - 0 Comments

A. You could have 50 cards and as long as you kept them in good standing, low utilization, no lates, etc. they won't hurt your scores - you would take small dings for inquiries though. If you are adding 3-4 cards, and you already have a good card portfolio that has fairly good history, the inquiry dings should be small. After 6 months the inq's will be less of a significance on your scores and at one year they will have no impact at all. Available credit is not debt. I can see only one card that you currently have that is probably keeping your scores from actually being higher than they are now. That would be the Cap One card. Cap One is notorious for not reporting credit limits, they only report high balance - that makes it look like you… [cont.]
Answered by echo - Mon Mar 12 21:15:52 2007

How to get more and more credit cards and personal loans with bigger credit limits?
Q. I am a trader of textiles,maintaining a good balance in my savings account and have a good credit history of more than one year. I am going to apply for a lot of credit cards as well as personal loans. What general precautions should be taken so that I may be able to get maximum number of credit cards and loans with good credit limits?
Asked by tusharcosmic - Mon Jul 30 15:32:49 2007 - - 3 Answers - 0 Comments

A. that's not the way to go to finance your business - you'll be paying average int rates of 18% or higher probably and much higher if you're late with just a couple of payments. Why don't you try and get a business line of credit instead
Answered by Dr. Deth - Mon Jul 30 15:37:09 2007

What happens to your existing credit cards if you foreclose your home? How about new credit cards?
Q. Hello. I have a great credit score as of now, but things will certainly change once I fall to foreclosure on my home. 1) Will I lose my existing credit cards? 2) Will I be able to get new ones? Also, does anyone know how many points you lose with forclosure? Thank you.
Asked by giobarricader - Thu Aug 13 14:09:52 2009 - - 2 Answers - 0 Comments

A. your credit card companies are in the position of canceling any of them without a good reason due to the downturn in the economy if you don't use it much, they will likely cancel it, if your payment schedule has been not so good, they might cancel more than likely they are not informed of your foreclosure possibility of not getting a new card would be less if you had a bankruptcy and the foreclosure will definitely affect your credit score
Answered by tro - Thu Aug 13 14:25:09 2009