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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]That is such nonsense about your credit score dipping. Just this year I got a Marriot Bonvoy, two Amex Hilton cards and a Bilt Palladium.  And it's not even June! My credit score never dipped below 800.  As long as you manage your spending responsibly, your credit score is not only not affected but is probably improving, since your available credit is going up but utilization is going down.[/quote]

Also unless you are buying a house or a car (though car really doesn't even matter) in the next few months, what difference does it make anyway?[/quote]

Right???

But you bring up a really important point.  From my observations, people who excel in this hobby have a slight adventurousness to them, a higher than normal risk tolerance.  They are okay with getting multiple cards by the fistful.  There are still lots of folks who prefer a more conservative line with their finances, and that's totally fine too.  Just an observation.[/quote]

Yes this is a good point, it's not for everyone, which is fine.  I usually tell people they should probably get a 2% cash back card if they don't want the work/attention of managing a bunch of cards/points/miles, etc.  Once you open up 10 cards in a couple of years it seems like nothing to you, but most people still think of it as a somewhat big financial transaction.

Also, a lot of people seem to have read one of these financial old wives tales about credit scores and mortgage applications, and even if you have specific knowledge of how it actually works today, you can't convince them the thing they heard from a boss 10 years ago is wrong.[/quote]

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