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131

How bad did I fuck up? (lemmy.world)

submitted 3 days ago by [email protected] to c/[email protected]

165 comments fedilink hide all child comments

I signed up for an American Express preferred Blue card and got approved for a limit of $25,000. I have a 830 credit score. I realized that the places I shop don't accept that card and you have to pay for it yearly so I canceled it.

Then I decided I was going to get a Costco Visa. Once I signed up the credit limit was only $5,000. So I canceled that one. So I stupidly signed up for a Wells Fargo Visa and that was $4,000.

Don't leave yet and please don't make fun of me but I'm not done being stupid. I decided I wanted a different American Express card and when I signed up for it the credit limit was $2,000 so I canceled that one.

Again I know I'm fucking stupid but how bad did I just fuck up my credit?

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[–] [email protected] 50 points 3 days ago (15 children)

The fuck is wrong with you?

[–] [email protected] 33 points 3 days ago (8 children)

Yeah 4 credit cards in any short amount of time is going to send off the bureaus. To OP, what's wrong with "only" $5,000 in credit? You know they'll boost it after just a few months of timely payments, right?

[–] [email protected] 3 points 3 days ago (2 children)

You know they’ll boost it after just a few months of timely payments, right?

Just to dismiss this myth. How many times you put charges on a credit card or how many payments you make has ZERO bearing on your credit score. The only thing you have to do is, when you have charges, pay on time. There isn't even a measure for "you paid on time" there are negative measures of "you didn't pay on time" though.

FICO score is only 5 things and they aren't a secret. Its published right on their website for all to see.

source

[–] [email protected] 8 points 3 days ago (1 children)

I’m pretty sure they’re talking about credit limit, not score.

[–] [email protected] 2 points 3 days ago

Gotcha, on a re-read, I agree with you.

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