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SigmaInigma

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Is it OK to have 3 credit cards at 19 years old?
I am 19 years old and in college. I would consider myself very responsible and pretty smart with money.

My first credit card was the Citi Forward Card. I currently have a $750 credit limit and the card is a year and a half old.

The second credit card I got was a Best Buy Rewards Zone Credit Card. I had good credit when I applied but I was only approved for $400 for some reason. It may have been that my income was only 12,000 at the time. I just got this card a few months ago.

I am now wanting to get a Discover It Card for students because the rewards are much better than my Citi Card. It seems like a pretty easy card to get approved for but I want to know if it would be wise to apply for a third credit card. I don't want to get a low credit limit because a bunch of credit cards with low credit limits is not good for credit. I would want to be approved for at least $1000. My income has increased. I am now making about $25,000 a year. My current credit score is 720 and I have no loans or anything. I always pay my balance in full each month and have never made a late payment.

I have considered canceling my Citi card but I think that would hurt my credit since it is my oldest open credit account with the a good credit history. I'm just not sure if I should apply for a third card. If I get the discover card the citi card will not be used much anymore.

Your advice is much appreciated!

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You should have no problem getting the Discover It Student. Keep the others active and call to ask for credit limit increases. Pay everything ontime, keep being focused and responsible, then when you're ready for a car or house those lenders will be tripping over themselves to get your business.

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