No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I currently have a Capital one credit card with a $300 limit. I just applied for a Wal-mart credit card and was approved for a $1000 limit. I'm only 22 years old is having two credits cards bad for a person my age? BTW, i"m always paying my Capital one card before the due date. MY TU Score is 651. I don't plany on applying for any more credict cards in 2013. I'm trying to build my credit.
@college22c wrote:I currently have a Capital one credit card with a $300 limit. I just applied for a Wal-mart credit card and was approved for a $1000 limit. I'm only 22 years old is having two credits cards bad for a person my age? BTW, i"m always paying my Capital one card before the due date. MY TU Score is 651. I don't plany on applying for any more credict cards in 2013. I'm trying to build my credit.
No, the standard rule is one card for each year your age is over 17 (18 in CA, 16 in NV) so you are behind.
Or, more helpfully, each person's needs/situation is different. Certainly no harm in having multiple cards if you can handle them responsibly (as it seems you are).
You can either get more cards for various reasons (different types of rewards, relationship with card issuers) or get CLIs on existing cards, or some combination of both.
No hard and fast age related rules, except no personal credit card under 18 in most places.
I'm 19 and I have 11 cards.
21 and look at my sig
And of course that doesn't mean that OP has to start getting lots of cards. Ilovelisa is (self-described) addicted to apping (and as she/he is 19, we don't know whether this will lead to great or bad credit in say 5 years as life goes on!) , people's income, financial maturity, maturity in general, risk aversion etc are all different.
Having "enough" credit is good, having too little makes things hard, and, by definition, "too much" gets you into trouble either by overextending or trashing your credit scores so that when you really want a mortgage/car loan etc, you get bad rates. Unfortunately, enough has to be defined by you!
But, 2 cards, with a CL of $1300 certainly isn't too much. Are you graduating soon? Out in the world, you will probably want a little more than that to keep expenses from using too much of your CL.
I'm 317, and still think of credit cards as new fangled stuff that's not going anywhere.
Your just have to determine your own maturity level with handling cards. In 2 years of having many cards, and quite a bit of avaliable credit, I have never once carried a balance on any card. I do spend alot, but I trust myself to never spend what I don't have in my savings account.
@bs6054 wrote:
...No, the standard rule is one card for each year your age is over 17 (18 in CA, 16 in NV) so you are behind.
Who made that rule the standard?