credit cards
Is having a lot of credit cards good or bad for your credit score?
I’ve heard both… my teacher said having a lot of credit cards will lower my score. But I also read that part of your credit score is based on the formula
how much you owe/ total credit , so in that case having more cards would be better. I have 7 cards and I only use 2 of them. Should I cancel my other cards?
having too many cards is bad for your credit score, yes having access to lots of credit is good but this should be due to having equity in a house. the biggest marker is your debt to income ratio, also you need to pay your bills on time and have a history of repaying loans in a speedy fashion
Anyone know of a major credit card or a web site that compares the best?I have one great merit of a good, but my current card has me at 28% interest. Probably because I neglected to pay back time in years, but there has been no last minute reservations on my credit report for the last four years. “I can pay in full within 25 days 99% of the time, but last month I could not and burned. I asked if it was a lower rate lowest available, they told me no. So definitely I will close this one at the end of the month and find another. I really only use it to buy online (I prefer to use my debit card for days days), or a couple of things like car insurance that I have to tie a credit card. I’m looking for a low interest, no down payment Annual gold card covers car rental and would like some kind of awards program, but you can live without it. Thanks for any advice.
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New Credit Card Laws & Rules Take Effect
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