06-27-2014 07:30 PM
I have been searching stuff on credit like crazy the past few months, and stumbled on a youtube video of a guy who says he has around 22 cards or so. I would say that's a bit excessive lol
06-27-2014 07:32 PM
Well I have 21. LOL. I use them all for different things though. I take advantage of cash back and other rewards and i earn money to do other things with...very beneficial in my opinion. Would you mind if I ask how many do you have?
06-27-2014 07:34 PM
I currently have 8 cards (7 personal and one biz). That being said there is no right or wrong answer. Its however many cards you are comfortable with and can handle. There are people with 20+ cards and others with 3. Personally for me I am most comfortable in the 7 to 10 cards range. I never get a card just for the sake of getting a card. Every card I apply for meets a specific need of mine. Also, I am willing to dump cards with AFs if I do not see the value in them. You should reassess your cards every year and make sure they still work for you. The problem with having too many cards is that it can be hard to manage all the cards and AFs can add up quickly if you have cards with AFs on them. .
06-27-2014 07:39 PM
Wow, I don't know how you can keep track of all of those cards! I think the other guy mentioned similar things about different cards being better in certain situations, So I can understand that, just seems like a lot of cards to manage(for me anyway). I personally only have 2, a Cap1 Secured card($200), and just got a fingerhut freshstart card($230), my score is only 571 so I am long way off from getting any of the good cards like most of you guys/gals here have.
06-27-2014 07:40 PM
Thanks for your reply! I totally agree with you! I'm very good with organizing and keeping track of my credit card bills. I make a graph every month to sort things out. You are so right about getting rid of cards that arent beneficial as well.
06-27-2014 07:41 PM
I have 10 cards in total ... 8 Credit cards and 2 store cards. Probably going to app for 1 or 2 more cards one of them will be the CSP
06-27-2014 07:44 PM
Yes I think that people should get only what they can handle. I'm very good with organizing my credit cards. I make a graph every month with balances and payments I need to make. Its good to stay organized because I like to make sure that I'm always under my 30% for my utilization. Just take your time and move at your own pace.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.