Reply to Credit Card available credit goes from 15K to 50K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]12-21 cc you all are living chaotic lives. [/quote]

Trashy af to have that many cards.[/quote]

It's relative. I'm the PP with the 840 credit score. When I look at my report and it makes suggestions to improve it literally says "open more accounts."

Also 20 accounts isn't all cards. It's things like car loans or mortgages. We always take car loans with new cars, but pay them off immediately after 1 month of interest or at the end of a promo period. Why do this when you can pay cash? Because it builds positive credit. And then it sits on your report as an account, even when it's paid.

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If you have a long credit history and an installment loan (like a mortgage), adding more installment loans won't have a significant impact on your credit score. If you are doing this to take advantage of 0% financing, that makes sense, but not to increase your credit score. I am at the same score and have just a mortgage and had one student loan paid off over 10 years ago. Zero car loans ever.[/quote]

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