Thread: How many credit cards do you have?

How many credit cards do you have in your wallet? what cards are they?

I personally have 5 credit card...

2 are Capital One credit cards
1 is Continental Airlines World MasterCard from Chase
1 is Discover Business Card for my business
1 is a pre-paid credit card I keep in my car for emergency

3 here...

1 Amex
1 Visa
1 MC for business

credit cards. there no limitation.Depends on you how many credit cards can manage in one time.

I'm not telling

I have two one Capital one and another is Visa.

I have
Amex Blue
Chase(perfect) gas rewards
Discover
Amex Starwood (my rewards card)
and just got citi to transfer my balances. I would recommend no more than 3-4 tops though, it is pain remebering to pay all these cards plus other bills every month.

I heard having too many is bad for your credit, is that true? I think I have 4 also, but I was thinking of cancelling 1 or 2, and I just read thats a no no, but geez, after I settle all my debts, cant I just keep 2 at most to simplify things? Why does canceling ruin credit? Seems a bit non-democratic....

Hi
there are plenty banks who provides different types of card. they are issuing

Originally Posted by greatestone

I heard having too many is bad for your credit, is that true? I think I have 4 also, but I was thinking of cancelling 1 or 2, and I just read thats a no no, but geez, after I settle all my debts, cant I just keep 2 at most to simplify things? Why does canceling ruin credit? Seems a bit non-democratic....

6-10 is bad. As long as you keep you utilization below 30% of total available credit it will not hurt your score. Do not cancel those cards. Your debt to available credit is very important in determining your credit score.

Oh so the way they calculate is total available credit to debt, meaning if u cancel a card, your total available goes down and the percentage of debt goes up? What if you have zero balance on ALL the cards, still? I just think its silly that a past mistake of signing up for one too many cards can never be rectified and you have to deal with all of them forever...