Does it help your credit score to have more then 1 credit card and if so how many should a person have?
544418
A credit score is effected in many ways so there are many things to consider. First, keep your debt to income ratio as low as possible, this makes it easier to get the credit you need when you need it. The more open balances you have, the higher your debt to income will be. Credit cards, or revolving accounts do not effect your score as much as installment loans (mortgage, auto loans) do. Pay everything on time, EVERYTHING!! Paying the balance in full will help debt to income but will do little to add points to your score like on time payments do. If you have any other specific questions, you can ask me anytime.
47254
Without a credit history, getting a credit card is not easy. Keep trying at the bank you do business with. They may start you off with a credit card with a $500- $1000 credit limit to see how you pay your credit card bills, then increase your credit limit as time goes by. If all else fails, there is such a thing as a SECURED CREDIT CARD. This card is backed up by a specific amount you put up to ensure  payment of your charges. This is also your credit limit. One you establish yourself as credit worthy, you get whatever credit deposit you put down,and a regular credit card is issued to you. For secured credit cards, again see,  your local banker first.
460810
most companies checking credit to give you either a credit card or cell phone etc would like to see a minimum of about 620, if you have atleats 670 you can get better interest rates on loans and better credit deals.
618212
Please take the time to visit http://www.myfico.com\n\nThis is the site for the folks who developed the FICO scoring system, and you will find some of the advice in the previous responses are wrong.\n\nA major part of your credit score comes from credit history.  When you cancel your cards, you destroy a portion of that history, and that lowers your score a little bit.\n\nWhen you cancel a card, you also lower your debt/credit ratio.  Here is an example.  Lets say you have 5 cards, with a total credit limit of $10,000.  You have $1,000 in debt, so your debt/credit ratio is 10%.  Not bad!\n\nNow, lets cancel two of those cards, with the larger credit limits.  YOu now have a total of 3 cards with $4,000 credit limit, but you still have that $1,000 debt.  Your new ratio is 25%.  You have more then doubled your credit ratio, and this will lower your score.\n\nThese changes will be reflected for several months, but your continued good credit use will eventually recover the score.   Therefore, if you are planning to make a major credit purchase within 4-6 months, NEVER cancel a credit card.  Anf if you do wish to cancel them, only do one every few months.\n\nOne reason you would want to cancel a card is if you have a very high amount of available.  Lets say those 6 cards have $5,000 balance each.  You have $30,000 in available credit, and that may scare off prospective creditors.  In this case you may wish to cancel one or two.  It's recommended that you have 3-5 credit sources.\n\nNow, regarding the unknown accounts, you need to immediately investigate any accounts you do not own or recognize.  It can be either a simple error on the credit agencies part, or it can be someone who has stolen your identity and is getting credit in your name.\n\nVisit the link below to find out more on ID Theft.
1108355
You can close the newest ones without harm to your credit.  And you can close any that don't report to credit bureaus...some of the smaller local stores may not report, but big places like Sears surely do.  Just keep the oldest one or two that report open at least.  \n\nIn general, having a bunch of store cards isn't going to be a big plus for you, but one aspect of your credit score has to do with how long you've had credit open, so if you have a couple of long-standing relationships with one or two stores, it might pay to keep those open.\n\nOf course, there's never a penalty for cutting up the cards and not using them.  Just don't close the accounts officially.  (I have a JCPenney account that I've had for decades, but I don't know if I even have a card for it anymore)
960694
You might call the number on the back of you card and inquire what credit amount you have remaining. It would serve you better to reduce your personal debt.
64480
If you don't already have one open a checking and savings account. it is best to go through a credit union they are better and safer in the means they won't screw you over like the others.  Get one or two credit cards and no more than that if you have more cancel them. Opening and closing credit card accounts will lower your credit a bit but in the long run it works to your benefit. I say to only have one or two because too much in credit card credits will also bring done your credit. Don't use them often but say charge dinner on it sometime and then always pay the bill the day it comes, pay all your bills this way. It shows responsiblity on your credit report. And don't look at you credit report more than once a year, it also lower your credit.
682787
Yes. This is a good tip (probaby the best use of 5 points on Yahoo! Answers I've seen yet!).\n\nThere are 3 credit bureaus. I'd recommend separating the 3 free credit reports over the year (rather than getting them all at once) to keep an eye on your credit. With so much identity theft out there, this is one great tool to try to stop it early if it happens to you.\n\nThanks!
1137400
from one credit to junkie to what may be another, save yourself! cut up your cards, all but one. if you make minimum payments, a 5000 card turns into a 30 year, almost 25000 debt, a huge profit for the card company. Please don't get more! \nIf you really need more credit, there are numerous places to apply on the Internet. just answer a few surveys and then you get a few free gifts as well as an application. Best of luck to you.
26126
I think it helps to have two major credit cards.  Department store cards aren't as good to have.  Make sure you make all of your payments on time, and try to get a high credit limit so that you have a low percentage of balances compared to the amount of credit available to you.\n\nI use CreditInform, a service that reports my credit score to me 4 times a year.  It costs about $5.00 a month, and it tells you which factors are making your credit score higher or lower.\n\nGood luck with everything.  One final tip:  I pay my credit cards off (in full) every month, and don't allow myself to charge more than I have in savings/checking.  This has helped me stay out of debt, unlike so many of my friends.
1145727
You can get one done but it won't show much.  It is a wise idea to open one or two credit cards and then charge something and pay it off promptly.  If you ever want to buy a house or a car this will help you more than if you have never charged anything. You see, they want proof you are capable of handling credit.
619942
If you are rebuilding your credit, you will want to avoid having too many credit cards.  Especially if using too many credit cards damaged your credit in the first place.  Apply for one with no annual fee, a low interest, and a low credit limit.  If your credit score is low, you may have trouble getting a credit card.  Always pay your rent or mortgage on time.  Eliminate Florida trips until you have enough in savings to pay for the trip.  You will want to have a credit card to buy airline tickets, reserve hotels, and cars, but pay off the balance when the bill comes.  Some people get a gas card first when they are recovering from a bad financial situation.  Gas is something you buy anyway so they put the gas on the card, set aside the money and pay off the bill completely when it comes.  Gas cards tend to have high interest rates, but if you pay in full, you incur no interest.  Aim for one card to start with and see how that goes before applying for another one.
181336
I would advise you not to apply for one. I am almost 21 years old. I don't have one and have never needed one. Every person I know under the age of 40 with a credit card is in serious debt. I am too, because my husband had three cards when we got married. Your safe choice is to not get one. However, if you feel you must have one, I would open a checking account. Most banks offer a low interest rate on credit cards to people that have checking accounts with them.
454705
I risk the wrath of God by disagreeing with Credit Guru, but here goes....\n\nJust based on the fact that you are paying $99 for a credit card you don't use is a good enough reason to dump it.\n\nWhat you never want to do is cancel 3-4 cards at one time.  That will have an impact on your score.  But closing 1 account every few months will not hurt that bad, and it will recover after a few months.  \n\nAs long as you are not planning to purchase a home or car in the next few months, cancel the card and use that $10 a month you save to treat yourself on making a smart decision.  \n\n0;)
1055269
There are definitely some things that you can do to improve your credit score. I tried to do this recently and came across this site, http://www.webcredithelp.com
467109
the best for me is "my credit keeper" 9.99 a month and it gives you all three credit bureaus and credit scores along with a scoring calc "EX. if i get another card how will effect my score" plus it gives you a explanation on why your report is the way it is
458443
If you check your own credit it has absolutely no affect on your credit score at all. If you apply for a loan or new credit card once in awhile (say once every 6 months or so) that shouldn't affect your score either. Its when you apply for too much at one time that it hurts your FICO score. It makes you look like a risk. (That you might take out too much in credit cards or other unsecured debt)