Comments on: How Many Credit Cards Should You Have?

By: Salli818

Salli818 — Fri, 11 Jul 2008 19:35:25 +0000

Yes I think 3 the max is fine. I have a AmEx, Bank of america world points and then a discover card. Its just a waste of time having so many cards, I would say its just a headache. Not to mention having 5-10 monthly statements rolling in every month if you hold so many cards and use them.

By: How Can I Lower The Interest Rate On My Card And Raise My Credit Limit? | My Investing Blog

Fri, 25 Apr 2008 04:26:52 +0000

[...] If you’ve got good credit, you may have had them voluntarily raise your limit. Clearly there is a reason for this too. Again, they’re a business, and if you’re paying off your card like a good person, you’re losing THEM money. They think they can bait you into buying more by giving you more. If you can pay it off, go to town I say. [...]

By: Mr Credit Card

Mr Credit Card — Sat, 08 Mar 2008 14:10:48 +0000

To James

Technically, yes, one of the criteria of your credit score is your present balance to available credit. So if you have large credit limits on the cards you do not use, then yes, your score may go down a little. If you are not paying any annual fees on them, then just put them in a drawer but do not cancel them. Just don’t use them.

By: Carnival of Personal Finance #141 - The College Years Edition — Broke Grad Student

Mon, 25 Feb 2008 12:05:40 +0000

[...] Mr Credit Card from Ask Mr Credit Card answers the question, “How Many Credit Cards Should You Have?” [...]

By: James

James — Fri, 22 Feb 2008 03:15:41 +0000

Unfortunately,

I have quite a few credit cards and department store cards (being a young naive kid at the time) but I only use 2 of them at the moment (and I never carry a balance on any cards). My AMEX green card, and for places that don’t accept AMEX, my Chase Freedom card.

I was thinking about closing all of my other unused credit cards, but that may hurt my credit history. It’s not right to close them, right?