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kerryholt2001

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what is a good number of credit cards to have
i have one credit card but when i got another one my credit dropped a lot if i get another one it says it will drop only about 5 more point so should i get another card to increase my avaliable credit

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Your score dropped because getting a new account lowers Average Age of Open Credit Lines. This will repair itself as your new card(s) get older.
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It is a common misconception that it's possible to have too many credit cards - every credit card (as well as most loans) increases total accounts by 1. While it isn't a good idea to apply for tons of credit cards just to increase Total Accounts, (1 account only adds as much as an inquiry takes away) it is well worth it to apply for a new card when it would only lower your score 5 points - that will recover itself in a month or 2.

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