Valued Contributor
Posts: 1,906
Registered: ‎11-17-2012
Re: The right number of credit cards

Pghmg wrote:

Can anyone tell me the proper number of credit cards a person should carry to help increase credit score. Someone told me that three is the magic number. I currently have two, one is a cap one master card and the other a orchard Master Card. Both accounts have  300 limits. Can anyone give me direction .


Three is the absolute minimum, and there doesn't seem to be a cap on the max. But it depends on your management skills. Some people can manage 40+ cards very well, let them age, and get high 700s and into the 800 range over time. Personally, I would aim for 4-6 (currently have 6 now), because I'm aiming toward a perfect credit score one day. That doesn't mean though you can get great credit with more than that! It's all a matter of payment history, utilization, and age of accounts to get into the high ranges!

 

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