Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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 .

You should only carry as many card as you need. You can build a solid credit with just one credit card. Do not buy into the belief that you need extra credit card to have excellent credit.


Also solid payment histroy is far more important than credit score. Credit score is just a number, it does not tell the big picture.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/ (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)