as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
opening 5 credit cards at once with no history to ruin, is it a good idea?
user
i would not call this a "good" idea. but i wouldn't necessarily call it a bad idea either. before you even consider it, you need to do a little bit of soul searching. if there is any chance that having multiple credit cards could entice you to spend more than you otherwise would, then this is definitely a bad idea. avoiding temptation is the key to preventing regrettable actions (in all aspects of life). psychoanalysis aside, let's take a mathematical approach to the question. i believe your conclusion is correct if you add some qualifiers to it: a few years from now, then your credit score will probably be higher than if you just had 1   credit card. here are some other things to consider: and, saving the best for last: as for the hard inquiries, they should only have an effect on your credit score for 1 year (though they can be seen on your report for 2 years). final thought: if you decide to do this (and i personally don't recommend it), i would keep the number of applications smaller (3-5 instead of 10-15). i also would only choose cards that have no annual fee. try to choose 1 card that has 1-2% cash back and make that your regular card.
assistant