not4u2c_yet
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A credit score is effected in many ways so there are many things to consider. First, keep your debt to income ratio as low as possible, this makes it easier to get the credit you need when you need it. The more open balances you have, the higher your debt to income will be. Credit cards, or revolving accounts do not effect your score as much as installment loans (mortgage, auto loans) do. Pay everything on time, EVERYTHING!! Paying the balance in full will help debt to income but will do little to add points to your score like on time payments do. If you have any other specific questions, you can ask me anytime. |
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Frank Castle
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Yes.
As much as you can. |
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fatsausage
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Good idea - a Visa plus and Amex is a great way to go. |
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Erdelac
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as long as you pay all your bills you are fine
loans
mortgages
lines of credit
credit cards
accounts
possesions- collateral
all help you financially
but the ammount of credit cards does not matter the length of time you have had it for matters most and of course the limit and you track record |
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jannie
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as long as you make your payments
I only have one visa but I still have AA credit |
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lil_angel64
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as long as you pay them off or pay at least the minimum every month, it doesn't matter which ones you have. |
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BaFfler
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I heard two credit cards is the best. |
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heartache
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As long as you are paying on time it would probaly help better establish your credit |
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Lisa M
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Yes apparently if you take out more cards but as Sam has said not too many applications all at once. Then you do improve your credit scoring. Just make sure that you use the card and pay back on it asap that way you can also show that you are trustworthy enough which gives you lots of brownie credit scoring points. |
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theonlybeldin
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Depends on how high your limits are and whether you're carrying balances on the cards or not. Appearing over extended will negatively affect your credit rating. |
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Mr Soul Pole
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as long as you dont exceed you debt to income ratio. but trust me if you get a amex you are doing alright. just remember whether its $35.00 or $35000.00 they want it back in 30 days |
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ApplePie
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yeah, it's good..i wouldn't get amex unless you know that there is no yearly fee for having it...mc..discover..also purchasing a car..financed..or home...or opening a store cc like macy's ..or such...a lot of other stores also have their own cards now too...home depot...credit score is all a game...play it well, and you'll do ok, mess it up and you'll have to work on fixing it for years..just like trying to keep it good. or work it up...just pay things off..and on time...and it's good to use the cards too...you have to use them, to prove you know how to handle your credit...it's fun if you like money...i work in finance. |
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James H
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All the info here. |
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bob
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It is better to have more than one. As a rule two or more applications for credit every six months will be frowned upon but if you borrow money and pay it back promptly you are held in higher esteem that if you never borrow |
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thecharmedfive
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Having more than one credit card will help your credit score but not by much. Upto 4 or 5 credit cards is considered ideal. You must make sure to keep your balances no more than 35-40% of your total credit limits and make the payments within the due date WITHOUT FAILURE.
As with AMEX, try not to get their regular account with no limit as they will want ALL of their money back in 30 days plus they have annual fees of $75-$90. They do offer a lot of other accounts with limits and no annual fees and that is what you should look into. |
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jzc17
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just don't have too many cards open. people with lots of cards open often are at their limits and open a new card so they can keep spending.
however, having two or three cards is a good idea in case one is not accepted if you're in a jam. |
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Jackie B
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How many you have is irrelevant..its the fact that you meet payments that counts. If you had 100 it would be harder to meet payments than if you had 1/2. Hang in there..its time that counts..your credit will also be affected by paying regular bills so just hand in there, pay your bills when they're dur, and dont worry about credit. If you're paying your bills you dont need it and dont eant it. It will just get you in debt and make money for your bank! You will never need a good credit reference if you pay for what you buy and dont rent stuff. If you're very young they will understand that you havent been about long enough to establish a credit rating. At the end of the day look after yourself and ignore credit! |
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JC
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I've been trying to get credit and what I found out is credit cards don't really madder if you trying to build credit. What does it things you've been paying on for 2 years or more ( like a car payment, house payment ex...) |
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msmoneymatters
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Keeping your balances at 50 percent help your credt score. |
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