Can too many credit cards impact your scores?

I currently have about 22 credit cards, 13 of which I got over a twelve-month time span and I have not experienced any negative impact as of yet. Some people think that this is an exuberant amount of credit cards for a single person to own and I can see how some people might think that way.

As for myself, I apply for credit cards as a part of the research needed for my blog. It’s hard for me to give advice if I haven’t lived through the experience first hand. My technique for getting approved at such a high rate is due to the amount of time that I put into my research.

I own eight major credit cards and the remaining cards are for department stores and a single Shell gas card. Although one of my credit karma scores reached 701 once and for exactly a single day, the vast majority of my cards were approved with a poor to fair score between 600–650 which is far from elite.

Having said that, this has not negatively impacted my credit scores because I am not applying willy nilly all over the place. I have a strategic plan in place and map out exactly when and where I will apply in order to achieve the greatest chance for approval.

Even though my scores typically hover near the barely average range, I know that I can boost them all above 700 at any given time by doing absolutely nothing more than continue to pay my bills on time. The seeds have been planted…Now I can just sit back and watch them grow.

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VantageScore VS FICO Score

I won't pretend like I know all the differences between the VantageScore that you might find on Credit Karma or Credit Sesame, but what I can tell you is that most creditors are looking at your FICO score when they are making decisions about whether to grant credit or deny it.

As it turns out, I am in the perfect position to make a comparison between the two credit scores. For comparison's sake, as of today, my Transunion VantageScore as reported by Credit Karma is 607 and my Transunion FICO score is 669. Needless to say, that is a huge score difference.

I only found out my Transunion FICO score by accident because I received my Uber Visa in the mail recently with a 4K credit limit and on the accompanying paperwork, it showed that my Transunion FICO score was 669 at the time of approval.

That means that when my Credit Karma score was 650 then my true FICO score that lenders look to when making credit decisions was right around 712. Here I was beating myself up over my easily accessible Credit Karma score and it was nowhere near my true credit score!

So I say that, to say this: No matter what your Credit Karma score may look like today, just keep in mind that your FICO score, the one that lenders use to make credit decisions is most likely much higher. In my case, the difference was 62 points but admittedly, I do not know all the variables.

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Collections, Disputed, Removed!

For many years people have stated that accurate, derogatory information could not be removed from credit reports and I have stated for just as long that it can. I know this because I've done it for the better part of 20 years for myself, friends and family members.

I wanted to put this myth to rest once and for all and that's why I decided to release my upcoming "DIY Credit Repair Guide" so that I could show you step by step, exactly how I was able to remove negative entries from all three of the major credit bureau reports.

This procedure works for both paid and unpaid collections but it's a process and you cannot expect to have a 100 percent success rate the first go-round unless you are lucky enough to only have one or two derogatories showing on your credit reports.

This post is the final notification of the upcoming release of my DIY Credit Repair Guide entitled: The Blueprint. It is currently in the final revision stages and will be released sooner rather than later. This is your last chance to reserve your free copy as it will only be available via an advanced email subscription on the "Bill Collectors Hate Me" blog.

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The Barclays Uber Visa Card

Being the author of a credit and financial advice blog, I am always on the lookout for new credit card opportunities. As I've stated time and time again, credit inquiries are overrated. After doing a quick check of my recent credit approvals, I was shocked to learn that I'd been approved for eight credit cards within a 30-day time frame and a total of thirteen approvals inside of twelve months.

If inquiries were that detrimental to your credit score, I would never have been approved so many times within such a short period of time. Even with all my recent approvals, I know that I have plenty of room for several more, but I've decided that the twenty-plus that I currently own shall do. When applying for credit, I highly recommend that you apply for up to 5 credit cards simultaneously after the first approval...preferably over the weekend as this is when I've had the most success.

That brings me to the Uber Visa credit card that is financed by Barclays Bank. I was approved for this and the CareCredit credit card on the same day. Full disclosure, I was denied for three other cards on that day that I didn't really need, but I was just being greedy. Being approved so often after years upon years of denials can become very addicting and give you a false sense of power and invincibility, so be careful.

This card offers several rewards that can only be redeemed for Uber rides and Uber Eats, but the benefits don't stop there. You are also eligible for ID Theft Protection, Auto Rental Collision Damage Waiver, Roadside Dispatch and Cellphone Protection of $600 against damage or theft as long as you pay your cellphone bill via the card. I only paid $350 for a like-new, refurbished Samsung S9 Plus from the Sprint website, so I am more than covered.

There are several other benefits that are too many to name here but all in all, I find that the Barclays Uber Visa credit card is one of the best in the business... Especially if you are a frequent Uber rider or Uber Eats customer. This card also offers a generous starting credit limit. In my case, I was approved for $4,000, which at the time of this writing is the highest starting credit limit of all my major credit cards.

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The CareCredit Credit Card

Over a period of 2-3 months, I started to feel a very sharp pain while chewing food on the left side of my mouth in an area that was later identified as tooth #18. The pain came on fast and furious with no advanced warning. It wasn't until that point that I realized that I had a dominant chewing side. I was miserable.

The CareCredit card can be used for several medical procedures such as LASIK surgery. Everyone knows that CareCredit can be used for dental procedures like braces and dental deductibles. What people don't know is that it can also be used for cosmetic procedures such as breast implants as well as primary care visits, chiropractic care, and Walmart for health and wellness supplements and more.

CareCredit is accepted at veterinary clinics all over the country for your pets because sometimes you just don't have the available cash on hand for emergency procedures in a sudden and unpredictable time of need. The interest rate is a bit on the high side but when you need it, you need it.

I was instantly approved for $2500 but my research shows that CareCredit is financed by Synchrony Bank who is known for increasing credit card limits at a very high and acceptable rate. For instance...One user reported being granted a starting credit limit of $800 and was instantly increased to 5K upon request.

User reviews for this card are very positive and given what I've garnered from previous cardholders when I do ask for an increase, I will ask to be bumped from my current credit limit of $2500 to $5000 and I feel very confident about my chances of approval.

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