Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Kreyson

0 Contributions
0 People Helped
Woulnd't more credit card accounts help when you consider payments made ??
I'm in the process of rebuilding my credit and I'm on the right track. I currently have 4 credit cards, a Fingerhut account, and I got an auto loan, even though it doesn't have a pretty interest rate.

In the past, one of my downfalls was taking out a mortgage for a pretty expensive house that after I got into it, my job kinda fell apart and I got stuck with a pile of late payments on my house which crippled my payment history to 89.2% and 93.8%.

People will say that you can have too many credit cards and I know a new card would ding my credit score at first and drop the average age of my credit, BUT if I have another account that I'm paying on monthly, wouldn't that help increase my payment history faster, which is a higher impact hit on me currently, not to mention, it'd give me a little more overall credit for my utilization ???

I've been pretty good with the credit I have now and I think I could handle another payment without problem, I'd more than likely only take it out for a tank of gas once a month and pay it off.

Any info would be appreciated, thanks !

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.