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Should I use all my credit cards? I only use 2 of my 6 credit cards.

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Anonymous
Not applicable

Should I use all my credit cards? I only use 2 of my 6 credit cards.

Since my other 4 credit do not offer any benefits to me, therefore I only use the two cards. To raise my credit score, right now I am at 729 from Experian, should I be using all of my cards? and by how much? Just a few bucks a month on all my other cards?

 

Thanks for any help/advice

Message 1 of 10
9 REPLIES 9
iwant700fico
Frequent Contributor

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

Yes you should show some activity on all your revolving accounts, it could be a very small amount though.
EQ 786 2/2018
TU 792 8/2018
EX 776 2/2018 Chase CSR $28.5k
Barclay Advantage $17.5 k
Amex BCE $29k
CITI Advantage $24.2k
Amex HILTON $13k
Total Rewards visa $20K
Chase INK $11k
Chase Sapphire Reserve $28.5k
BOA 8k
Discover IT 8K
Message 2 of 10
Anonymous
Not applicable

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

Thanks for the quick response. I guess I will put each of one usused card for one monthly recurring service and set up automatic payment.
Message 3 of 10
smallfry
Senior Contributor

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

Depending upon the issuer a small amount of usage periodically might result in a CLD or closure. In the end you have to do what is right for you. Hopefully those rewards cards are issued by a strong credit union. 
Message 4 of 10
Anonymous
Not applicable

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

When you say you are at 729 "right now Experian" what do you mean?  Where/when did you get that score from?
Message 5 of 10
Anonymous
Not applicable

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.


@Anonymous wrote:
When you say you are at 729 "right now Experian" what do you mean?  Where/when did you get that score from?

I signed up for the Citi IdentityMonitor, and it showed up for 729. I used to be 771, after fooling around to test some myths, now its 729. (See my other post for the story)

Message 6 of 10
haulingthescoreup
Moderator Emerita

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.


Eiso wrote:

@Anonymous wrote:
When you say you are at 729 "right now Experian" what do you mean?  Where/when did you get that score from?

I signed up for the Citi IdentityMonitor, and it showed up for 729. I used to be 771, after fooling around to test some myths, now its 729. (See my other post for the story)



That's a FAKO score, sorry.

You don't have to let balances report to make CC issuers happy --just use them through the month. Up to you whether you let the balances report. That's a score issue, not a CCC issue.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 10
Anonymous
Not applicable

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

FAKO score? shoot! So which product/program would you recommend for me to use to get the REAL score?
Message 8 of 10
haulingthescoreup
Moderator Emerita

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.


Eiso wrote:
FAKO score? shoot! So which product/program would you recommend for me to use to get the REAL score?

As of February 13, 2009, there is NO, repeat NO source where a consumer can buy his/her Experian FICO score.

If you belong to a credit union in Pennsylvania (PSECU? --something like that), you get your score with your statement, presumably the previous month's score. (I don't know how that works.)

I've read that some obscure CC reports an EX score, possibly credit-card enhanced like the former WaMu/ Providian PFICO.

Or you can apply for a mortgage Smiley Surprised , where they pull all three, and by law are required to tell you the FICO scores that they pulled.

That's it.

Nothing else out there, including on the Experian site, no matter how desperately anyone tries to mislead you.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 10
Anonymous
Not applicable

Re: Should I use all my credit cards? I only use 2 of my 6 credit cards.

Oh ok! That's fine. At least thats everyone can really access to..are those FAKO scores. That's really as close as we all can get except having some agencies to pull your real reports out for the real scores.
Message 10 of 10
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