Secrets to Improve Your Credit Score: How Many Credit Cards Should I have?

Thursday, July 15, 2010

How Many Credit Cards Should I have?

According to Fair Issac, the creators and keepers of the FICO score, the optimum number of cards is between two and four. Having less than two or more than four puts you at higher risk and this risk is factored into your credit score.

Can you have more than four cards and still have a strong credit rating? Of course! But since you are reading a blog on improving your credit score, chances are there are a few blemishes and areas that could stand improvement. Until your history and credit management habits are strong enough to offset the additional liability of more debt, the optimal number of cards with the highest credit limits you can qualify for is the best way to go.

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The Federal Trade Commission requires that I disclose any relationship I may have between a product manufacturer or service provider when I write about a product or service.

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