Addicted to credit?

I%26#039;m not addicted to spending...I know my limits and I toe the line (I spend more than I should but I do pay my bill off every month). I%26#039;m more or less addicted to applications, wondering how much credit I can get...testing where the line is.

I%26#039;ve applied for three out of my four credit cards in the last year or so. I want to apply for one more: a washington mutual card which gives its members free credit scores and (apparently) credit monitoring as well instead of $15 a month. The idea of this would be to have one of each kind of card on me at all times since different places take different cards, and to have 1 (the new one) that I keep at home in case my wallet is stolen.

Does this sound like a disaster waiting to happen if I apply now? Should I wait another year until most of my inquiries fall off? Or does Washington Mutual not really offer this and would I be signing up for the card for nothing?

The card I am considering applying for:

http://www.wamu.com/personal/credit_card...

Addicted to credit?bad credit loan

The answer to your question is yes. That%26#039;s exactly why the economy is the way it is. You only need one credit card and you should use it and pay off 99% of it every month. That way you are building and controlling your credit.

The one credit card you SHOULD have if you must be hooked on credit cards is one from Walmart. They pay you a certain amount back when you keep it active. Something like $25 or something...

Other than that, you could be building a nice fat retirement account with the money you throw away on unnecessary purchases.

People like you make me want to open a bank....

Addicted to credit?

loan

If the card truly offers that service, I would say go ahead and grab the card. Not too many down sides to carrying the card and not using it and keeping the balance low just for the free credit report. I have a WAMU card myself and I can check my FICO score every month. In fact it will send me an email if my score goes up or down by 20 points or so.

However, there is no need to have one of each type of Credit card. Have a few with medium available limits (2000-2500). Always keep low or zero balances. And always make your payments on time to keep your interest rates low. Even if you don%26#039;t get a lay fee for 10 days after the payment is due, your interest rate can be raised for being just 1 day late.

Also, some credit card companies will automatically raise your interest rate if your credit score drops a certain amount, or if your balance compared to your limit gets too high. Chase just recently removed these tactics after consumers complained loud enough about it. I would always check your cards to see if this is the case for them as well.|||actually, this could work out for you.

your credit score is a rating based on how much credit you have, how much of it you%26#039;ve spending, how often you pay your bill, etc.

the more credit you have and the less of it you spend, the better you are.

although, if they start turning you down, that could negatively affect your credit.