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does it hurt or help your credit to have 2 credit cards and 2 department store cards (Best Buy, JC Penny etc) which are paid off every month or is it better to just have 2 cards open and in use?

4 Responses to “Is it better or worse to carry several credit cards if you always pay off the balance?”

1. Dont_taze_me_bro says:

   April 25, 2008 at 6:00 pm

   Just keep paying them in full each month.
2. Megz says:

   April 26, 2008 at 3:09 pm

   No, that is a good amount to have. As long as you are keeping track of each and paying them off, you are fine.

   It would hurt more to close them. If anything, just don’t use them but still keep them open.
3. Benzo says:

   April 28, 2008 at 5:16 pm

   Carry only one credit card for emergency. Cut up the two department store cards but don’t close the account.
4. Lussy says:

   April 29, 2008 at 9:06 am

   A credit card is a system of payment named after the small plastic card issued to users of the system. In the case of credit cards, the issuer lends money to the consumer (or the user) to be paid later to the merchant. It is different from a charge card, which requires the balance to be paid in full each month.

   Benefits:
   Because of intense competition in the credit card industry, credit card providers often offer incentives such as frequent flyer points, gift certificates, or cash back (typically up to 1 percent based on total purchases) to try to attract customers to their programs.