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?
Yeah, I don’t necessarily agree with the game, but since we’re in it, I play it. All of my purchases go on credit cards. But I never spend money I don’t have, and I pay the statement balance in full every month so I’m never charged interest. The only time I don’t pay the full statement balance is when I buy a new phone since I have the store card with 0% financing. But anything else, never ever ever carry a balance.
It sucks because it’s basically a benefit for people who have good executive functioning and financial literacy, paid for by those who don’t. It’s a benefit I only get because big banks prey on poor people.