Comments on: Does Having Too Many Credit Cards Hurt Your Score?

By: Chels

Chels — Tue, 23 Aug 2011 15:17:18 +0000

Hello,
I’m 22 and making 30k between a few jobs. My credit scores are 660-720 and I’ve just opened my second credit card because all three of my reports say my score could be higher with more available credit, in a few months should I go for a third? I’ve never maxed my first one out, I have autopay for my phone on it and then pay it off and I plan to set up my gym membership on the next one, so I’ll be usinf less than %15 of my new open credit. How much is too much open credit for someone in my income bracket?

By: Eileen Shewchuk

Eileen Shewchuk — Fri, 03 Dec 2010 20:29:59 +0000

Have business line of credit cards on my personal name with large amounts but continuously being paid down. This is affecting my credit score. How can I change this.

By: Mike

Mike — Mon, 29 Sep 2008 23:33:44 +0000

I was told that in-store credit cards that I don’t use are bad to keep open. So I closed 3 of them in one day: Kays, Empire Carpet and SYMS Clothing (Kays I’ve had for 10 years). Based on your article above, how badly did I just screw up my credit. I’m currently a 740-750, how many points could this move cost me. I still have a couple Visa’s and a Mastercard, 2 lease payments and a mortgage so how much should I be concerned?

By: GENE RILEY

GENE RILEY — Mon, 22 Sep 2008 22:00:46 +0000

i get a paycheck bi-weekly. can i split my credit card bill payment in half and pay them bi-weekly and will this help me pay them off quicker ?

By: stacey

stacey — Sun, 31 Aug 2008 04:06:30 +0000

I am thinking of joining Identity Guard or something else to help monitor my accounts and to tell me what my score is. Is it worth it?

By: Matt

Matt — Sat, 09 Aug 2008 17:32:47 +0000

I am 36 make 100K and have no credit cards or savings. I am married with 4 kids 9-15. I have a mortgage (30year fixed 6.125%)I owe about 79K, payment is $800, 2 new cars with $359 5% (26K balance 5 years left) + $589 0% (28K balance 4 years left). Boat payment $150 6% ($6500 balance with 6 years left)

My score is last I saw just under 700.

How many credit cards should I get to boost my credit score? Should I try to get credit cards with the highest limit? If I do not use the credit cards will they still increase my credit score.

I have always been against using money I did not have, but apparently this is not good for your credit score.

Quote from above
“If you give your accounts time to age, get your total debt to under 10 percent of your available credit”

Does this only refer to credit cards? If I open available line of credit at the bank but do not use it would this also boost my available credit? Do mortgage and auto/boat loan balances get considered as available credit? Or do the count as debt so it equals out? Should I open 2 credit cards, 1 or 3?

Please advise as to how I can boost my credit/FICO score?

By: autumn

autumn — Tue, 05 Aug 2008 23:45:43 +0000

I used to have about 8 credit cards but I slowly cancelled them all. I refuse to open up a store credit card, no matter what the offer. So right now all I have is one credit card, my debit card and a carecredit card, which I hear mixed things about. I pay my bills on time, sometimes more than once a month. I was just wondering if having too few cards would hurt my score. In addition, I was wondering if the care credit card would hurt my score.
thanks