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What is the optimum number of credit cards?

Established Member

What is the optimum number of credit cards?

Right now I have 4 credit cards with balances, and my number of accounts is rated as "Good" instead of "Great".

 

How many credit cards do you need to have a "Great" rating? 3? 2?

 

Also, what percentage of unused balance would need a "Great" rating?

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Re: What is the optimum number of credit cards?


alpha916 wrote:

Right now I have 4 credit cards with balances, and my number of accounts is rated as "Good" instead of "Great".

 

How many credit cards do you need to have a "Great" rating? 3? 2?

 

Also, what percentage of unused balance would need a "Great" rating?


Hello and welcome.

 

IMO (In My Opinion) 4 cards is usually plenty. You don't say what kind of cards you have though. It's how you use the cards you have that counts.

 

A tactic that seems to work for many people is to have only one of your cards report a small (<9% of credit limit) balance each month on it's monthly statement and then pay that balance in full before the due date.

 

On your other cards always have them report a zero balance on their statements. That doesn't mean you can't use them during the month just time your payments so that the desired zero balance on these cards is achieved several days before the statements post.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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