I have no credit. I'm a student, who has never had a credit card short of a secured card I had a few years ago that I was poorly advised to close, and now I'm trying to build credit.
Conventional wisdom says open a credit card, wait a few years, then open another one, then another one, then another one, and 10 years down the line, boom, you've got great credit!
Considering I have no average age of credit to ruin and no matter what I do I'm going to have bad credit for at least the next few months until I start building history, I'm very tempted to apply for maybe 10-15 credit cards, hopefully get approved for 5, and open those accounts at once. Yes, I'll get 10+ hard pulls on my credit report, and yes, it's going to look bad for me until they all drop off in two years, but I'm going to have bad credit for the next two years no matter what I do. Unless there's something I'm missing, this seems like a great way to have 1-2 years of terrible credit, then great credit much faster than I would have had otherwise. Am I right?