Comments on Americans Holding More Credit CardsTypePad2007-03-08T11:29:00ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2007/03/americans_holdi/comments/atom.xml/Matt commented on 'Americans Holding More Credit Cards'tag:typepad.com,2003:6a00d83451bcbd69e200d834eaf94a53ef2007-03-09T05:11:38Z2008-08-27T11:52:25ZMatthttp://politics.lel-hosting.com/I have difficulty imagining why anyone who isn't doing balance-transfer arbitrage would have any use for more than 4 or...<p>I have difficulty imagining why anyone who isn't doing balance-transfer arbitrage would have any use for more than 4 or 5 credit cards, no matter how much credit they have. I mean, if they're keeping some old accounts nominally open but inactive for credit-score reasons, that's also another matter...but if they're packing their wallet with 10 cards and actually using them all, I have to wonder why.</p>Golbguru commented on 'Americans Holding More Credit Cards'tag:typepad.com,2003:6a00d83451bcbd69e200d834eaae8953ef2007-03-08T13:46:05Z2007-04-30T03:20:51ZGolbguruhttp://www.thetaoofmakingmoney.comSorry about the bad English. There are like a million typos in my earlier comment. It's time for some strong...<p>Sorry about the bad English. There are like a million typos in my earlier comment. It's time for some strong coffee.</p>Golbguru commented on 'Americans Holding More Credit Cards'tag:typepad.com,2003:6a00d83451bcbd69e200d834eaaeab53ef2007-03-08T13:43:31Z2007-04-30T03:20:53ZGolbguruhttp://www.thetaoofmakingmoney.comQuick thought: "30 points below the national average" ..that's a bit *not-specific* statement. Score may vary by +/-30 points from...<p>Quick thought: "30 points below the national average" ..that's a bit *not-specific* statement. Score may vary by +/-30 points from one credit agency to another, for the same individual.</p>
<p>That apart, yeah..it's a bit of concern when people start using 50% of available credit. That will certainly going to put a big ding on the scores. </p>
<p>Btw, *I* have 9 cards and *We* have 18 cards. :) they were gathered for various reasons and I won't go into it here. But, we still managed 750+ credit scores. That was till got into some 0% credit card arbitrage thing. After the arbitrage, the scores have dropped down, but they are still above 700. I guess, it's more an issue of how people use them rather than how many cards they have. </p>