What's the most credit cards one should have? ?

Question

Is it bad to have 6+ credit cards?

Why?

Answer 1

Zero is best.

One is ok, sort of, but $1,000 cash in the bank is better than a credit card if you're planning for emergencies.

More than that, and you start having the temptation to get a cash advance on one in order to pay off the other.

And, despite what the great god FICO says, more credit cards actually hurt your chances of getting a mortgage.

Answer 2

It isn't so much the number of revolving accounts as the balances you carry that can hurt your score.  Carrying balances of more than 30% of your available limit hurts your score.

Experts recommend 4 revolving credit lines and 2 installment loans to get the best mix for the best score.

Remember that even if you don't use most of those credit cards, you should secure and monitor them for fraud or ID theft.   A stack of unused credit cards in your sock drawer is a bad idea.

Answer 3

Having multiple credit cards is not to your advantage, especially if you are not able to pay them off in full monthly. It can really damage your credit score. I would advise to have a look at http://www.applyforbestcredit.com/Top-10... to find the most perfect card for you and take advantage of it to the full.  

Answer 4

why would u have so many ? lol well i think it's bad in a way b/c that means more bills to pay ritee ? i think one is enuff to have. haha i mean, why would u have more than one ? they all have the same purpose. i don't think any credit card is diff

Answer 5

I've never thought it necessary to have more than one.

Why would you need six?

Answer 6

0

You don't need to obsess with your credit score to make it in todays world. Banks want you to believe that. If you like paying payments and staying in debt. Then by all means, you need to worship at the alter of the almighty fico score.

If you wanna win with money. Pay as you go. Live on less money than you make. You will then have money and not have worship the fico.

Answer 7

One for emergencies only...if you have more than that you will get into trouble.  Trust me, I've been there...actually I'm still there.

Answer 8

You only need two -- a Visa and an American Express.  That covers you everywhere in the world, including  your grocery store.  Any more is inefficient.  You can't live in this world with zero credit cards.  If you are irresponsible, it doesn't matter if  you have 1 or a 1000 cards.