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How many credit cards is it good to have or not have? If you close a credit card does that... |
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Date:
September 14, 2007, 3:18 am |
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How many credit cards is it good to have or not have? If you close a credit card does that negatively effect your credit score? |
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Answer:
Thank you for your question. In fact, having from one to two credit cards is the optimum alternative. Having few long-term credit lines is very favorable for creditors. If you apply for, say, seven credit cards because of their discounts for the first purchases, it will affect your credit score in a negative way. But closing your account is not too favorable, too. It is much better to keep your credit card (which you do not want to use) not actually using it, just keep your credit line open (especially if this one has no annual fee). |
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