PSA: Everyone should have two credit cards

[BigJ]

Originally posted by: evilsaint

Originally posted by: JS80

Originally posted by: evilsaint
If you're looking to raise your credit score, albeit slowly but surely, get a credit-card from any given store, and don't even worry about spending a lot on it. Put $10-20 on it every month, and make sure to pay it off early.

Mach3 inserts and face wash from Target are re-building my (horribly disfigured) credit score 5-10 points a month 😀

Actually department store credit cards will lower your score because they hand those out like flyers.

Tell that to Equifax and my credit report that I check every month...

Initially, credit rating agencies will use it as a mark against you when opening a store credit card. It's because normally people will forget to pay it off after the 6 or 12 months of no interest, get late fees, and all other sorts of junk.

If you've had it open for awhile, it will have no bearing on your credit score.

 

[Ronin]

4 cards, all always paid above the monthly (automatic payment on all cards..just easier for me not to think about when the due dates are), all with limits above $10,000.

820 Isaac ftw.

 

[Eli]

I currently have 7 CC's.

Two with no balance.

I spent a lot of money around the time the ex and I broke up, heh. Paying it off as quickly as I can now.

 

[GoingUp]

I have about 5, but only 1 I use regularly.

 

[GTaudiophile]

Originally posted by: Muadib

Originally posted by: GTaudiophile
I have 4 at the moment 🙁

This would only be a sad thing if they were all charged to the limit. The number of cards you have doesn't mean squat. How you pay your bills does.

Nah, they're all paid off. No balance.

I currently have...

AMEX SkyMiles Platinum
CitiBank Platinum Dividend Select
USAA Platinum MasterCard
Discover Platinum with Rewards

I just got the CitiBank as it offers the acceptance of a MasterCard with the rewards of the USAA and Discover cards combined. So I am going to cancel those two, leaving only the AMEX and Citi cards.

 

[BigJ]

Originally posted by: GTaudiophile

Originally posted by: Muadib

Originally posted by: GTaudiophile
I have 4 at the moment 🙁

This would only be a sad thing if they were all charged to the limit. The number of cards you have doesn't mean squat. How you pay your bills does.

Nah, they're all paid off. No balance.

I currently have...

AMEX SkyMiles Platinum
CitiBank Platinum Dividend Select
USAA Platinum MasterCard
Discover Platinum with Rewards

I just got the CitiBank as it offers the acceptance of a MasterCard with the rewards of the USAA and Discover cards combined. So I am going to cancel those two, leaving only the AMEX and Citi cards.

Why would you do that unless there is a fee?

Cancelling cards with a long history will negatively affect your credit score.

 

[GTaudiophile]

Originally posted by: BigJ

Originally posted by: GTaudiophile

Originally posted by: Muadib

Originally posted by: GTaudiophile
I have 4 at the moment 🙁

This would only be a sad thing if they were all charged to the limit. The number of cards you have doesn't mean squat. How you pay your bills does.

Nah, they're all paid off. No balance.

I currently have...

AMEX SkyMiles Platinum
CitiBank Platinum Dividend Select
USAA Platinum MasterCard
Discover Platinum with Rewards

I just got the CitiBank as it offers the acceptance of a MasterCard with the rewards of the USAA and Discover cards combined. So I am going to cancel those two, leaving only the AMEX and Citi cards.

Why would you do that unless there is a fee?

Cancelling cards with a long history will negatively affect your credit score.

Hmmm. I have a long history with Discover but not the USAA card.

 

[her209]

Originally posted by: spacejamz

Originally posted by: her209
F' the c.c. companies and their shady practices.

how are they shady if you agree to their terms in the fine print that you didn't read when you accepted the card???😕

http://www.occ.treas.gov/Consumer/creditcard.htm

 

[ponyo]

Originally posted by: Ronin
4 cards, all always paid above the monthly (automatic payment on all cards..just easier for me not to think about when the due dates are), all with limits above $10,000.

820 Isaac ftw.

We know who's identity to steal. 😉

 

[Reckoner]

I have 9 CC's, and my FICO score is 735. I only really use 3-4 of the cards.

 

[LukFilm]

I have 30 credit cards, mostly use just 10 of them, paying them off every month.

 

[BigJ]

Originally posted by: LukFilm
I have 30 credit cards, mostly use just 10 of them, paying them off every month.

?

If you don't mind me asking, what is your credit score?