How many credit cards are good to keep?
By kingparker
@kingparker (9673)
United States
July 8, 2010 2:56pm CST
When I was college, I apply 2 credit cards with low amount of credit limits. After I get out of college, I apply 2 extra more credit cards with a higher limits. There were some careless spending when I was younger, and now I regret with my behavior with those money. Because with that much money on hand, I just buy things I don't actually need them. Now, I am indebted with my past misbehavior. I also cut 2 of those credit card and they automatically cancel my account. Another one with higher APR rate, I also cancel it. Now I am left with one. I would only use it for emergency or twice a year to avoid closure of this card. So, how many credit cards do you actually keep?
5 responses
@cutepenguin (6430)
• Canada
23 Jul 10
I don't know how many are the right amount to have. I have 2, and my husband has one. Right now, we've completely paid off one of mine and are working on my other one. (It's joint debt though - we both spent the money). His card is the one we use for day-to-day stuff, so we try to pay it in full every month.
@faisai (1138)
• Hong Kong
14 Jul 10
I don't exactly know how many credit cards I have. All I know is none of them are charging me any service charges or interests.
As far as I know, as long as I swipe the card and pay it back when the bill comes, there are no interests incurred on me. Therefore, it doesn't really matter how many cards I keep. It is how much I actually spend with them which I am damn sure I can pay them back later.
@AjaySinghBaghel (5506)
• India
10 Jul 10
I have 3 credit cards and feel that one should have no credit card. I have cancelled 3 Credit cards earlier and trying to close 2, want to keep only one. Because of Credit card, sometime I end up doing unnecessary expense which can be avoided.
