CC Question

[S Freud]

So doing some reading of CC articles and opinions on here raised a question for me, I have always heard everyone say. "Don't apply for a CC just because of the bonus they are giving out." I recently applied and was accepted for a macys card becuase I could save around $75 on my purchase, now I am buying my textbooks on amazon and can save around $30+ with their visa card.

So should I go ahead and get the amazon visa? I just don't want too many cards to hurt my credit score. I am 19 and until recently I only had one CC through my bank, now if I get the amazon one I will have three. Two from stores and one from the bank.


Thanks

 

[Gibson486]

Too many CC is bad for young people. You think you will be responsible, but pretty soon you are thinking, "Ah, my credit limit is nice and big so i have no need to worry." i sadly fell into this trap and I ended up cutting all my cards up.

 

[S Freud]

I thought about that, but I would only need my amazon one for saving more money on my textbooks and I can't even use my macy's card becuase there is no macy's around me for about 200 miles

 

[Viper GTS]

As long as you are using them responsibly three is nothing.

I have 12 open accounts right now, and plan to get more. Lots of accounts = Lots of total credit = low utilization.

The only real danger is the urge to start using all that credit.

Viper GTS

 

[S Freud]

Originally posted by: Viper GTS
As long as you are using them responsibly three is nothing.

I have 12 open accounts right now, and plan to get more. Lots of accounts = Lots of total credit = low utilization.

The only real danger is the urge to start using all that credit.

Viper GTS

I had heard that when you first open an account it counts against your score. I was just worried that having too many CC's at my age would have a negative affect on my credit score, the exact opposite of what I am trying to accomplish.

 

[Jeff7]

Bear in mind, you're still spending money. It's not like they're giving you money with your textbooks. That money's got to come from somewhere - and they're hoping it's going to come from you spending even more money, since you "save" more when you spend more.

The main things I've heard with regard to credit cards are to not spend more than you can afford to pay for, and always pay your bills on time.