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Question By
prayforsurf0

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More or less credit card accounts in good standing ?
I have two credit cards I pay in full each month. I opened a new CC account to receive a good discount on an item. Now that I got the discount, what is the best option for my credit. Don't activate it and cancel it or activate it and use it ? I don't want to hurt my credit by having to many credit cards.

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Theres no such thing as "too many"

Helpful to 12 out of 13 people

Its how you use them that counts.  

Plain and simple, activate and Keep the card.  If its a store card. then use it for things like gifts.  Remember to pay it off when you get the bill beacuse the interest will be more than the discount.  Then put it away in a drawer and only use it a few times a year when you are planning to spend the money anyway.   Store cards carry the highest interest so they are the most expensive to have.  But they add diversity to your Credit history so you want a few. Even if you never use it again, it will raise your Credit to income ratio and your Available credit.  

as a rule of thumb: You want to have "Available Credit" (total of all your credit card limits) equal to a years income, and never owe more than 1 months income on balances.  

learn a little more about this stuff, check out the articles and posts and take control of how you manage yoru credit and your on your way. 

Good luck 
 

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