How Many Credit Cards Should You Have?
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- čas přidán 15. 11. 2017
- Welcome to my MissBeHelpful channel!
In this video, I take a question from a viewer and subscriber who wants to know how many cards she should have and how many does anyone really need?
Sign up for the card I use to make almost all my purchases, the Capital One Venture Rewards Credit Card: capital.one/2NUPqgp
Watch to hear what I have to say about this!
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I have 2 credit cards my FICO score is 785...I pay on time and keep my utilization under 30 %
It's actually better to apply and get 5 cards in 5 months than your method. Average age of account would be 5 years in 5 years. With your "wait for a year" thing, in 5 years, your average age of accounts would be 3. Credit score to the top is a long term game. It's fine to lose short term.
Love you’re videos!! After watching I raised my credit score from being inactive to a 710 in six months!!
Thank you. I really needed to know this.
Hi Missbehelpful 😁! This is crystal crawford. thank you so much for answering my question. P.s. I'm glad I only have 2 credit cards only for now! I also went back and rewatched and reviewed the video you mentioned. Thanks so much for your help.
Thanks for making this soon to be adult a smarter one! I'll be sure to use everything I learned. Awesome video.
I trust you.
Wow I m in love after watching ur three videos
Missbehelpful... thank you so much for all the great advice, I really appreciate your help.. keep up the great work!
Thank you for the great job Learning so much
Very helpful!
Nah, I wouldn't apply for a card every year or two because then you'd accumulate inquiries which will stay on your account for at least two years each time. That means you will probably have multiple inquiries on your credit file for years and years. It's better to open a few cards or apply for a few forms of credit all around the same time, because the credit cards (and credit) you get will all age at the same time. And more long-term credit with multiple accounts is better than one or two cards of long-term credit. You will keep those inquiries down and show that other companies trust you with credit. Just don't go crazy or get slack when it comes to managing your credit and finances. Remain steadfast and responsible. On a side note, if a person starts with a secured card as their first form of credit, do all you can to keep it. Longevity is the key. And, for many people it will be your oldest form of credit. Eventually, you can get that card account unsecured, increased, and have your money back. But, don't get rid of it. It will hurt your score if you cancel it.
I have 7 I’m working lowering the usage trust me it works!
Big help!!
Great content !!!!
It depends on your strategy. If you open a lot of credit cards early on it can help you build a long age of credit later on.
helpful insight
I think it varies from person to person depends your credit goals. You can have a lot of cards what’s important is how you use them. What’s good about my 6 cards all closing dates are the same.
Can you make a video on what happens when you pay off a card like does it say open or close
Thanks 👍