Right now, I only have 1 credit card. Other than my cell and car bills, I don't have too much established. A friend of mine has several credit cards but my mom says too many will look bad on your credit. What is a good amount to have to help build my credit without going overboard?
2007-03-24 12:49:20 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Your mom is right that too many cards can hurt you more than help. When you have several cards, even if you never missed a payment and they are all paid off, when you apply for new credit, the lender will see that you have all that credit available to you that you COULD use. Two or three cards max, keep the limits low and in line with your income. Rather than just letting them sit there, use them once a month and pay it off on time, so you build your reputation of paying on time.
Your cell phone may not be reported on your credit report. Mine isn't.
2007-03-24 12:57:56 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
Pay all of your bills on time every month. Also, use your one credit card regularly and pay it off every month. Too much credit looks bad on a credit report. As long as you have a cell account, a car payment and a credit card that all get paid on time, your credit should be good. Also, maintain a checking account and make sure you're never overdrawn.
2007-03-24 12:55:26 · answer #2 · answered by me_myself_&_eye 4 · 1⤊ 0⤋
i have just 1 credit card and a macys card... if u keep applying for more cards ur credit score goes down....if i was u just keep making payments on time and soon or later they will rase ur limit and ur score will go up
2007-03-24 12:59:53 · answer #3 · answered by island_gurl6953 2 · 0⤊ 0⤋
IF I WAS YOU I'LL JUST KEEP ONE CARD JUST TOO BE SAFE.
2007-03-24 12:55:13 · answer #4 · answered by daddee mann 2 · 0⤊ 0⤋