credit

6 credit report items that scare lenders

Multiplying lines of credit
Multiplying lines of credit

Opening one new card is normal. Opening three in a short amount of time could signal something bad is going on in your financial life.

When it comes to credit card issuers, "the account monitoring window has shrunk," says Norm Magnuson, vice president of public affairs for the Consumer Data Industry Association, the trade association for credit reporting companies. "It used to be months and months. Now you find companies doing account monitoring monthly or every other month."

And the one thing those issuers don't want to see is that you're asking everyone in town to lend you money.

"That would raise some questions," he says. "It could be an indicator of something that's going on. I don't think it's in the best interest of any consumer to go out there and be a collector of credit lines."

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