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Posting-Version: version B 2.10.2 1/18/85; site conejo.UUCP
Path: utzoo!utcs!lsuc!pesnta!conejo!tim
From: tim@conejo.UUCP (James T. Kehres)
Newsgroups: net.invest
Subject: Re: No Money Down??
Message-ID: <457@conejo.UUCP>
Date: Sun, 12-Jan-86 04:26:07 EST
Article-I.D.: conejo.457
Posted: Sun Jan 12 04:26:07 1986
Date-Received: Thu, 16-Jan-86 04:19:12 EST
References: <223@decwrl.DEC.COM> <458@nrcvax.UUCP> <8240@ucla-cs.ARPA>
Reply-To: tim@conejo.UUCP (James T. Kehres)
Organization: Conejo Office Systems, San Jose, Calif.
Lines: 31

In article <8240@ucla-cs.ARPA> brett@ucla-cs.UUCP writes:
>> 
>> 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.

Aside from this, many that extend credit look at not only your past
credit history, and your current debts, but also the sum of your
individual credit limits.  The more credit cards you have, the higher
this number.  This is especially true when trying to obtain home
financing.


Tim Kehres					Conejo Office Systems
						Mountain View, California
{amd,intelca,sun,pesnta,pyramid}!conejo!tim	(415) 967-1423
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