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Member Since: April 2016

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How Many Credit Accounts Should I Have?

May 06, 2016

I only have four accounts, which Credit Karma informs me is "Very Poor".  I have one really good credit card in terms of rewards that I use religiously.  For someone like me, would it be worth opening a few store or branded credit cards from retail stores that I shop at frequently to (a) increase my number of accounts, (b) decrease my overall utilization and (c) get discounts/rewards for shopping at those stores?  I'm sure those cards aren't perfect, but I would use them infrequently and would never carry a balance.  Is this a good idea?