Wednesday, July 12, 2006

How many credit cards should you have?

It depends on how you use the cards. Check this out.

I already posted a similiar blog entry on this -


I still have the same cards since that entry in March. I do still need to cancel that Sears card, and perhaps that Nebraska Furniture Mart card, as I do not think I will be buying any big item there.

I was close to cancelling the NY&Company card, but then I got more discounts if I use my card certain days of the year, and in the mail is still my favorite clothing store, and I do not have any other store card as such, so I should be OK :)

And oh yeah - getting that CitiProfessional card was definitely helpful for me, cuz as a young adult in the working world, I almost always eat out all the time, so it is nice to get some money back that way. (BTW CitiDividend is having a special - 5% back rebate for restaurant outings til September, so I am currently using that card instead for restaurants, until then)


Anonymous Lord Hughes said...

The article you posted seems to hint at 2-6 cards is a safe number to have. I'm sitting good at 3. Be careful closing out credit cards, your credit score can hit a hit in the short term if you cancel them. If you're not looking to take any loan out, then cancel them and give some time for your credit score to bounce back.

Oh, and congrats on getting to your $6000 raised for the Deaf Kansas Fund.

11:41 PM  
Blogger FrecklesFly said...

I ve only one card for 5 or 6 years, heh :) Def will refer that article to anyone with whooping number of cards :D

7:08 AM  
Anonymous CreditFan said...

That was interesting information. I was always like to know how many credit cards other people have. For me 2 are good enough… I prefer cash back credit cards, but, unfortunately, they are available only if you have a good credit score...

10:16 PM  

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