One weird thing you missed is the “length of credit” though. Let’s say you get your first credit card somewhere as a kid, and now you’re 40 and haven’t had anything else. Suddenly, that bank wants you to pay a monthly fee to keep your account open. If you get a new credit card somewhere else, and cancel your kid-card, your score is going to get hit quite a bit, no?
If you did it “correct”, you’d have 10+ different cards lying in a drawer at home to tons of different credit agencies.
It’s all an insane game that you have to play, despite the fact that it can usually be played “for free”.
One weird thing you missed is the “length of credit” though. Let’s say you get your first credit card somewhere as a kid, and now you’re 40 and haven’t had anything else. Suddenly, that bank wants you to pay a monthly fee to keep your account open. If you get a new credit card somewhere else, and cancel your kid-card, your score is going to get hit quite a bit, no?
If you did it “correct”, you’d have 10+ different cards lying in a drawer at home to tons of different credit agencies.
It’s all an insane game that you have to play, despite the fact that it can usually be played “for free”.