What is stopping an 18 year old from getting 10 credit cards in one day?

[chaos]

When you go to get your first credit card, can't you just sign up for like, 10 cards? You could do it all on the same day, so when they ask how many other cards you have, you can just say none, which would be true at the moment. & Then if each card has $500, you could have 5k. (I just want to be educated, obviously I'm not going to do this.)





Also, can you answer my other question on credit cards? I got an answer, but I added another question in the additional details. Thank you



http://answers.yahoo.com/question/indexqid=20091023161533AAET9I1&r=w



Thanks for answering! xD

Sorry, I don't think the link worked. Here it is again : http://answers.yahoo.com/question/index;_ylt=AhYid55pCq5BuWa99yNuXibsy6IX;_ylv=3?qid=20091023161533AAET9I1

[malica947]

They weill check your credit history before giving you a card. If you have no credit history, then chances are you're getting Zero cards - not ten.

[Sam493212]

When you apply for a card they will look at your credit history and profile. If they see that you've applied for a bunch of cards recently they will be hesitant to give them out.

But who knows today with credit card companies...

[timothyp452]

most credit cards for sub prime or no credit come with high annual feed and set up fees. Some of these cards will come with only $50 available credit and $200 in fees before you even activate it.

Either way, after you apply for your first card, each subsequent bank will see the inquiries for the other cards.

[jlf954831]

The average 18-year old isn't going to get any credit cards.

[bdancer222805]

An 18 year would will be very hard pressed to qualify for any credit card. You would likely be turned down for lack of credit history.

The first card is the hardest. Once you have one card and a good credit history, additional credit cards are easy.

[Mike583]

With your limited credit history, it will be difficult to get approved for one credit card let alone 10 credit cards.

Secondly, as you apply for each new credit card, your credit score will drop further (applying for credit reduces your credit score) making it more difficult to get approved for the next credit card.