How many Credit Cards should you Have when building credit??

[The-Credit-Disciple]

My Credit Journey began September 2017, and I currently have 7 Credit cards

[The-Credit-Disciple]

My credit Cards are as follows:

1. Discover it Chrome card

2. Citi bank double cash card

3. Amex everyday blue cash card

4. Capital one Quicksilver one card

5. Capital one Platinum card

6. Credit one Card

7. Total Visa cards

My wish list cards are: Amex cash Magnetcard, Bank of America cash rewards card and the Amazon prime rewards Visa card

My goal is to build my credit far into the 700's, any advice will be super awesome. thanks

[Gmood1]

Three CCs and one active installment loan is all that's needed for solid 850 scores.
Anything after that is a personal choice.
Be aware scores alone don't guarantee approvals.

Welcome to the forums!

[Brian_Earl_Spilner]

Nice starter set young padawan, but you only needed 3. Ditch the credit one and total visa

[The-Credit-Disciple]

I was thinking of ditching those once I get at least 2 of the cards on my wish List

[Medic981]

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@Brian_Earl_Spilner wrote:

Nice starter set young padawan, but you only needed 3. Ditch the credit one and total visa

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I agree! Credit One and Total Visa are subprimes CCs. You will do fine with the others. For an installment trade line, you can look into SelfLender which is a secured loan. You pay as little as $49 a month and get back the majority after a year. $525 IIRC

[The-Credit-Disciple]

I have Self Lender, It is Super Awesome, I love the program

[Anonymous]

Here is what I would do, get rid of Credit One, Total Visa and maybe QS1 (annual fee), garden with the rest until the last inquiry and the youngest account reaches one year, by then your score should be at the next level provided there are no derogs, then apply for your wish list cards and get approved with high limit and low APR.

[JohnnyGaddar]

I would say, you don’t need many cards to build the credit. If you have couples and they are in good standing, you will get CLI after sometimes automatically and it will cover multiple cards into one. Loan is good also to achieve high scores. Just keep cards with lower utilization and get higher CL as possible rather than having multiple cards.

[Anonymous]

You definitely have a solid hand of cards.  Before the annual fee hits for Credit One and Total, ditch them, but I would say keep them as long as possible to take advantage of the overall credit utilization until then.  If something has an annual fee and does not add value, ditch it fast.

Next, look at your Cap One accounts.  Platinum earns no rewards, but no fee.  QS1 while it earns some rewards is beaten by your DC, yet still has a fee.  Try the upgrade link:  https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade  If you can upgrade the QS 1 to QS, that may help you.  Otherwise, try and combine the QS1 into your platinum so you still keep that same available credit (for total utilization purposes).

Good luck hitting 700+!!

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@The-Credit-Disciple wrote:

My credit Cards are as follows:

1. Discover it Chrome card

2. Citi bank double cash card

3. Amex everyday blue cash card

4. Capital one Quicksilver one card

5. Capital one Platinum card

6. Credit one Card

7. Total Visa cards

My wish list cards are: Amex cash Magnetcard, Bank of America cash rewards card and the Amazon prime rewards Visa card

My goal is to build my credit far into the 700's, any advice will be super awesome. thanks

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