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Hi all,
Just wanted your opinion on something. I have an excellent credit score (somewhere around 760 or so), and keep getting these offers along the lines of "spend $500 in 3 months and get $100 back." I always pay off in full at the end of the month.
Over the years, I've opened many line of credit, including student loans, usually to take advantage of rebates. I probably have 20+ lines open and the last average age I recall seeing was 69 months. My wife and I may be in a position to purchase a home in the next year, and I would be the only one on the application because her credit is hurting a little and we want her to stay at home in the future anyway.
So question is: should I pounce on any of these offers, or should I hold back, knowing that reducing the age of credit by using new cards could negatively impact my score? I have 3 offers waiting and I'd love to knock $100 off our expenses 3 times. Thanks for the opinions!
Dan
Just wanted your opinion on something. I have an excellent credit score (somewhere around 760 or so), and keep getting these offers along the lines of "spend $500 in 3 months and get $100 back." I always pay off in full at the end of the month.
Over the years, I've opened many line of credit, including student loans, usually to take advantage of rebates. I probably have 20+ lines open and the last average age I recall seeing was 69 months. My wife and I may be in a position to purchase a home in the next year, and I would be the only one on the application because her credit is hurting a little and we want her to stay at home in the future anyway.
So question is: should I pounce on any of these offers, or should I hold back, knowing that reducing the age of credit by using new cards could negatively impact my score? I have 3 offers waiting and I'd love to knock $100 off our expenses 3 times. Thanks for the opinions!
Dan
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