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Bowl Leader
As long as you use them responsibly and aren't paying annual fees no that is fine. If you are paying annual fees make sure you are getting value.
Not enough if you ask me
Chief
I periodically close cards because I don't use them and don't want to be bothered to keep track of them (make sure there isn't unusual activity, etc). I also occasionally open cards for the bonus. As long as you're not excessive with either of these activities and have a strong credit score to begin with it's not an issue. My score is 810 atm. I have like 8 cards and can't wait to close at least 2 of them.
I don’t know if a “higher” number of credit cards is necessarily a negative thing - I have 10 different cards that are active. As far as I can tell it has allowed me to keep my credit utilization low and has shown I can use credit responsibly (of course need to pay them off on time)
5 is definitely not too many. Credit gurus have many more than that. Make sure you’re using the AZEO method (all zero except one) to maximize your credit score. Keep all 5 cards active by using them each month, but pay off the balance of 4 of the cards before the billing period ends. Keep a small balance on only the 5th card (5-10% of your credit line) so that it’s the only balance that reports to the credit bureaus. This technique maximizes your credit score
Y’all can have your opinions. Accenture 1, you’re not understanding. I’ve never paid a penny of interest on credit cards or late fees. The AZEO technique is something many credit gurus advocate and it’s easy – it’s not a lot of unnecessary work. Maybe some of you are thinking that because you’re not fully understanding, or simply because you’re used to your own way so think AZEO is time-consuming or confusing. Not at all for those of us doing it
I have over 20 credit cards. #Murica 🇺🇸
Also reckless on the lenders part. That’s fine though - they will just get another taxpayer bailout. 😂😂😂
Don’t assume that C1, my credit limit is over 2x my annual salary
Rising Star
Just use 1 and you’re fine. Keeping them just increase your credit score
Experian suggests 5.
I have 20+, various ones to maximize points for various types of purchases. I pay them all down every month, and my credit score is over 800.
Conversation Starter
^ are you me ?
I dont think u can have too many unless many of them have annual fees.. i have like 7-8 and i use 2.. ill never close them because that cant ding your credit score.. let the company close them .. CCs are the easiest way to build credit if u have self control