How Many Credit Cards Should You Have?
- Thread starter GhostMan
- Start date
I dont think you cna have too many because you need a good debt to credit ratio which impacts like a third of your credit score. For example if you have a monthly bill of $1000, and your overall credit limit is $10,000 then you have a 10% utilization ratio which isn't good, you want to keep it below 3-5% so the more credit cards you have the lower this amount which is good for your score.
OliviaTwist
All Star
I have 9.
I have about 6. I never close my cards. But I do lock the ones I no longer use. I'll purchase something small and pay it off just to keep it somewhat active though.
Only actively use 2. Both are cashbacks.
Only actively use 2. Both are cashbacks.
2...make sure they have some sort of rewards attached (Cashback, travel)
As many as you please.
I think I have around 10 but only use around 4-5, consistently now days.
I think I have around 10 but only use around 4-5, consistently now days.
it's not how many,
it's what you spend on them .
lights
water
groceries
gas
insurance
phone bill
internet
randos (subscriptions: netflix, spotify, etc etc)
thats 9 cards stuck with a revolving balance for each, each set to come out of your account
every month.
until the laws change (and they will), do it like that and your credit score will jump like Mario every 4 months.
Prolly 5% at the most when you pay it down.
throw them shyts away
it's what you spend on them .
lights
water
groceries
gas
insurance
phone bill
internet
randos (subscriptions: netflix, spotify, etc etc)
thats 9 cards stuck with a revolving balance for each, each set to come out of your account
every month.
until the laws change (and they will), do it like that and your credit score will jump like Mario every 4 months.
Prolly 5% at the most when you pay it down.
throw them shyts away
Pure Water
Veteran
Just got my third.
2, just to make sure I dont have to use debit when I go out and as back up
BaldingSoHard
Veteran
As many as it takes to get some kind of reward on each purchase.
To that end, I have 4.
To that end, I have 4.
I have 6 as well but one of the companies that I already have a card with keeps contacting me about a different card that I'm pre-approved for.
OliviaTwist
All Star
I wish our community wouldn’t be so afraid of credit cards since they are great tools that can be used for credit building 
. But first we should teach discipline around spending because CC debt can go very left very fast.
. But first we should teach discipline around spending because CC debt can go very left very fast.
