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?
You most likely have a number of credit inquiries on your account now. The bad news is that it hurts your credit score. The good news is that they go away over the course of a few years to five years. I’d do a lot of research before getting another card. Get a basic one. I use mine for modest purchases like groceries. Credit cards also benefit from purchase protection, and serious tradeoffs like Rewards, which come from transaction fees (which in turn tend to raise prices on all goods that accept credit cards. There’s no such thing as a free lunch).
You shouldn’t be maxing your credit anyways, so 5k should be fine. Pay it off every month, the interest rate is insanely high if you fall behind. It’s better to get a loan from a bank for massive purchases.
Ps- I wouldn’t get a card that has annual charges, unless you are doing like, a shitload of foreign transactions whose transaction fees exceed the cost of the annual CC fee. Usually this doesn’t pencil out unless you are Canadian and there’s an American Costco a 25 minute drive from your place near the border.