Hi Leo. My credit was bad. I was able to get some credit cards with a high interest rate. I have been using them and making my payments on time. I always pay more than the minimum. I got my first credit card in December 2012. I already have 5. I don’t need all these credit cards. I just need a good credit card with low interest. How do I get it? I already applied to some good cards, but I was denied. What should I do?

If you tried to apply for a credit card which doesn’t fit your credit history, that would become the reason for denial. You should choose credit cards according to your credit score. You can close a couple of credit cards you currently have. Pay off all the balances before you close the cards. But don’t close the oldest one. It will have a negative impact on your credit score. Close the cards with high fees. If the cards do not have any fees, simply pay off the balances and stop using them.  Closing cards will affect your debt-to-credit ratio. Your debt should not exceed 30% of your available credit on the cards. Then check your credit report to see how they affected your credit score. If everything is good and your credit is fair, you can consider applying for a credit card for consumers with fair credit.