haw many credit cards do you have?

Question

i have 2 but i've gone over the limit with one and have less than a $100 credit left on the other. i admit that i wasted it on things i didnt need but i now want to get a 3rd one for REAL emergencies, starting with my car that needs serious maintenance. my credit history is ok (meaning only one bad mark from years ago) and i've been on time with all my bills, though i dont have enough for savings and i've only had credit for 4 years now. so is this a bad idea? will it ruin my history and is 3 too many to have or the normal amount these days?

Answer 1

Pay off the ones you have before you get more.
CT

Answer 2

I am in no place to judge anyone on their credit. I, at one time had them all (Discover, two VISAs, M.C., Sears, Zales, JC Penneys, American Express, Firestone etc...!! I also "had" an awesome credit rating. "Had" being the operative word here. I got one after the other and managed to keep up with the payments for a few years but after while, they all start adding up. You also start noticing that you are paying more towards interest than principle with your monthly payments. In the long run you're paying for nothing because you can't get caught up with the interest charges!

If you have excellent credit, see your bank/credit union about a revolving credit account, or a signature loan. Interest is usually lower, and they base the loan amount on your history with them, your income, and your credit rating. It is a separate account from your checking/savings, and you can make monthly payments on it like a credit card. If you don't use the whole amount granted, then you can just pay back what's not needed and save yourself from paying the interest on the whole amount.

Past experience tells me that you can usually find this type of loan at a credit union. Banks are in bussiness to make money from your money, credit unions are usually more apt to look out for their members rather than make a fast buck off of them. I truly would not reccommend that anyone get a credit card for emergencies, as in many cases, they end up being used for luxuries. It may be a little frustrating and hard, but try to avoid another card, especially if you can honestly weigh the possible consequences, and see that you really don't need another card. Great credit is easy to maintain, it only takes a few missed payments, or an unexpected event (divorce, unemployment, act of God!?) to make good credit bad. If you are trying to put money into your savings account by paying bills/expenses with a credit card, you are essentially saving the money in the bank account to pay the credit card interest.

Answer 3

first off.....the first thing you need to know is you are already hurting your credit by having balances over 45% of your available credit limits...you have shown yourself unresponsible with credit and your score has already started to go down...so the first thing you need to do is get your current card balances paid down to at least half of your available credit......your score will then go up higher by doing do and at the same time you will have available credit for emergencies. Getting another card will hurt your credit for the first 6 months becasue it will not count towards good credit until 6 months and one day....but your score willt ake a hit even then for having a new account withut payment history on it of 12-24 months......;

Answer 4

You are a fool to think more credit cards will help you. A credit card that does not get paid off every month is a potential disaster waiting to happen. If you can't handle one, why would believe that you could handle three? Pay off what you have now with a part-time job.

Answer 5

I have 2 but I really only use one. I find balancing your budget on one statement is much easier... and in addition to that my credit limit has increased because I'm on time with payments....
its really your choice...

Do you have enough money to support credit spending on three cards? Cause thats the real question. You may want to stick with 2 if its keeping you out of Hot Water. Good luck; Cheers.

Answer 6

I have 2 Credit cards but they are all paid for.

Answer 7

oh my gosh...i have a bunch. i have too many! i think you are doing good if you just have 3! if you do get another, be sure to just use it for emergencies. the one that is over the limit, that prob isn't a good idea to do...i'd try and get them paid off as soon as possible!

Answer 8

i have like, 6, but all the balances are almost paid off, and i keep it that way. i figure i keep em open to build my credit, but never really use em, and if i do i pay it almost all the way that month. i hope im doin the right thing, it seems about right. right?

Answer 9

Just one and not over the limit yet♥ But close!

Answer 10

I have 7.

But only use 2 and have NO balance on ANY of them !!

aaaaaaaaaaaah life is good !