Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.2 9/18/84; site ucla-cs.ARPA
Path: utzoo!watmath!clyde!burl!ulysses!gamma!epsilon!zeta!sabre!petrus!bellcore!decvax!ittatc!dcdwest!sdcsvax!sdcrdcf!ucla-cs!brett
From: brett@ucla-cs.UUCP
Newsgroups: net.invest
Subject: Re: No Money Down??
Message-ID: <8240@ucla-cs.ARPA>
Date: Sat, 4-Jan-86 15:20:35 EST
Article-I.D.: ucla-cs.8240
Posted: Sat Jan  4 15:20:35 1986
Date-Received: Mon, 6-Jan-86 03:30:37 EST
References: <223@decwrl.DEC.COM> <458@nrcvax.UUCP>
Organization: UCLA Computer Science Department
Lines: 33

> 
> In article <223@decwrl.DEC.COM> merrill@raja.DEC writes:
> >
> >re: 200 VISA cards at 35$/yr each gonna cost you $7,000/yr!!
> >
> 
> From what I hear, the method called for obtaining Visa cards
> with no annual fee (such cards do exist.)

No bank is going to extend credit to someone who recent applied 
for 199 other visa or mastercards.  A typical reason for declining 
credit is too many recent applications or extensions of credit for the 
applicant .

Each application for credit is reported to one of the credit
reporting agencies.  If several cards are given to the applicant
in a short period, a bank will typically decline to give you
more credit, for fear you may not know how to handle the credit.




-- 
Brett Fleisch
University of California Los Angeles
LOCUS Research Group
3804-f Boelter Hall
Los Angeles, CA 90024
Phone: (213) 825-2756, (213) 474-5317 

brett@LOCUS.UCLA.EDU
{...sdcrdcf, ihnp4, trwspp, ucbvax}!ucla-cs!brett
-------------------------------------------------------------------------