i'm 20 yrs. old, not a student, work, and am single, and i have 3 credit cards and one debit card.
is that too much? or just right?
one credit card is to much. They are designed, like the fico score to do nothing but get and keep you in debt. They make all the rules and can change the rules at any time. They are snakes and snakes bite.
With the new laws In Feb. Credit cards will have to find new ways to make money with annual fees. check out the artical on usatoday.com.
The number of credit cards people have is not what matters, what matters is how they use them.
As long as your total usage is always below 30% and you always pay before the due dates you can have as many credit cards as you want.
People actually need 3-4 credit cars to maintain the best credit profile along with at least 2 installment loans like cars, homes, motorcycles, computers, furniture or personal loans all with good long payment history's.
It's not how many credit cards you have.
You can have 20 and still have 800+ scores.
It's how you use them.
If you carry balances you may be doing serious damange to your credit report.
Pay in full, never carry balances and enjoy perfect credit.
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one is too much if you overuse it or carry too high a balance
as a student, you can't possibly make enough working to keep up if you carry too high a balance-especially if you lose your job
how many cc's u have depends on how u use them, yer credit experience, & ability 2 pay. if u have let's say 5 maxed out cards, & yer total debt/pmts exceed yer total income, then it's 2 much
i only have 2 credit cards and 1 debit card. you have 3 credit cards. i wouldn't get any more if i were you.
Ideally I would avoid having any debt at all unless it is for an investment - it always costs you far more in the long run otherwise
It's not too much as long as you maintain it well and avoid making any mistakes.
Pay on time, don't put debt more than 30% of total credit limit.