Saturday, 28 November 2020

How Many Credit Cards Should I Have?

How Many Credit Cards Should I Have?
12 Aug
5:36

Hey Hubsters! So a lot of people have been wondering how many credit cards they should have The straight answer is everyone should have at least one — it's the best way to build credit — but the ideal number is more like four

That allows you to have one rewards card for everyday spending, one low interest card for those purchases that you probably can't pay off all at once, and then a couple store cards for extra deals and discounts at the places that you love to shop But again, there's no set number here That's going to really depend on your credit score and your personal preferences The newer to credit you are though, the less cards you should start out with It's just you don't want to start overspending too soon and you also don't want to miss any due dates

But the more experienced you become, the more credit cards you can start to get There are a few cons when you go to get a new credit card, the main one being that it is a temporary drop to your credit score That only lasts about six months though, and again it is one more reason to overspend and one more due date to keep track of There are usually more pros though, the first one being that you have more spending power in case an emergency comes up, and your credit score will improve as long as you're paying your bill on time every month Plus, you can probably get better rewards or interest rates than your current cards

There's actually a lot of great deals out there right now So to take advantage of one of those deals or if you just simply want a new credit card, you can compare them through this link at WalletHub

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