Is it smart to get multiple credit cards at once

[Ayo]

I just got approved for a discover card with a 4500$ limit

Someone told me to immediately apply for some other ones to get approved

Is this smart

This is the best time to do it so the cards will age together. If you apply for card #2 in 6 months now your avg credit history is 3 months (average of the 2). Credit card companies want to sit a long history of responsible credit usage when they consider extending you credit or increasing limits.

Get another 2 cards. Pay them off in full every month and don't carry a balance.

 

[ShackZilla89]

I just got approved for a discover card with a 4500$ limit

Someone told me to immediately apply for some other ones to get approved

Is this smart

I say no if this is your first one.

 

[Ayo]

What’s your credit score like? If it’s low I wouldn’t get another one right away because of the interest rate. Do good with that card build your credit and then test your options with good rates

Any interest rate is too high. I have 4.99% with my credit union and that shyt is still too high! Carrying a balance is just a bad idea in general.

If you absolutely NEED to carry a balance (making a big purchase) then you should be applying for a 18month 0apr promotional card.

 

[Flywin Lannister]

I just got approved for a discover card with a 4500$ limit

Someone told me to immediately apply for some other ones to get approved

Is this smart

You silly people and your desire for things you can’t afford to impress ppl that don’t give af about you

Getting a mortgage: sure (because houses can become more valuable over time, a 2021 reissue of the first Jordans can’t at least not significantly)

Getting a car with warranty: ok

Getting multiple credit cards to buy dumb shyt like a PS5 and a TV and some nonsense: NO

You WORK for those things and BUY them.
My rule: if you can’t buy it twice and without any financial stretching, don’t buy it.

So, NO

EDIT: I get that your society is built all around “good credit”. If you must build that up, get 1 credit card, do your day-to-day month-to-month spending and pay it off as soon as you spend something immediately or do it 1x per week. Try to keep a low limit, no need to have a $10,000 credit card and spend that monthly just “cause you can” because you really can’t if you don’t have double that coming in monthly

 

[UberEatsDriver]

Any interest rate is too high. I have 4.99% with my credit union and that shyt is still too high! Carrying a balance is just a bad idea in general.

If you absolutely NEED to carry a balance (making a big purchase) then you should be applying for a 18month 0apr promotional card.

my balances on credit cards so low. Literally like no more than $50 a month. I literally have two credit cards just to build credit. I buy everything cash for the most part.

 

[Elim Garak]

If you have self control and aren't spending money on it you do actually have that you can lose yes.

 

[Deflatedhoopdreams]

yes because they will all drop at the same time from your report.

This is the correct answer