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How bad did I fuck up? (lemmy.world)

submitted 1 week ago by [email protected] to c/[email protected]

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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?

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[–] [email protected] 1 points 1 week ago

Amex makes sense if you (a) live in the US, and (b) can pay off your balance every month. Yes, there's a yearly fee, but there are many benefits as well. I don't know what Blue gets you, but you get things like Uber rebates, points that can be used in Amazon like money, airline benefits, and so on.

You do not want you carry a balance over and pay the interest. Amex is not competitive on their interest rates.

I use Amex almost exclusively, and only very rarely encounter a place that won't accept it.