Robert G
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Not enough avaialbe credit can hurt you- it says to lenders that you are not trusted by other lenders
too much free avaialbe credit can hurt you- it shows lenders you have the potential to drown yourself in debt
too much used available credit can hurt you- it shows lenders that you are spread thin
too many inquires into your credit can hurt you- it shows lenders that you are lookin to borrow alot of money |
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Fred F
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In most cases more credit will lower your score.
Pay every thing on time -utility bills, doctor bills, ect. |
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Ian D
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No, do not get anymore credit cards, you'll only hurt your credit.
Pay off all of your credit cards except for 3. Pay the remaining three down to 25% of their credit limits. Example, if you have card with a $1000 dollar limit, and you're balance is at $800, pay it down to $250 and keep it there. Your credit score will shoot way up as soon as you do this. |
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rivasj27
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no it can hurt you more to have more credit cards even if there is no balance on them. |
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minoritygurlgd
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a really good idea to improve your score is take out a small loan... dont spend the money at all... just take it and make your payments back (always on time and always enough) This should help alot |
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SlimMick
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It may if it increases your amount of available credit, thereby lowering your utilization rate...which is a big factor in FICO. |
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doc_up72
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Yes it will but it's an extremely bad idea. Check your credit report at freecreditreport.com and challenge any mistakes on your report. pay your bills. If you have outstanding student loans make sure you get them into forebearance if you can't afford the payments. Good luck |
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iamtooproud
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Your best bet is to not have a lot, but just a few. Charge the card, pay it off... Keep the balance less than 75% of the limit... Keep the cards open, since creditors also look that the length of time, which is why older people tend to have better credit. |
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Dawna C
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If you want to boost your credit I suggest paying off your current cards in full(if you dont have the funds to do that then try paying off one)and closing the account. This boost your credit score 19 points everytime you close an account in good standing. If you take on more debt then this can hurt you when applying for credit somewhere else because the first thing lendors are going to look at is how much obligation you have to pay other lenders/credit agencies. Make sure you pay a little over the minumum amount if cant pay an account in full. Good luck and be careful with credit cards, it is very easy to build up debt if you get behind on them, they will charge you out the butt. |
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Tim
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Too many credit cards, even with no balance, hurts you. The creditors view the total of the unused credit as a problem that you could easily run up the cards.
Pay your credit cards off each month. Pay you bills on time. Your credit score will go up. |
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niquey
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You should keep a limit of 4 credit cards. Don't go buck wild and have 18 credit cards and 2 loans like I do. Big Mistake.I am surprise i have a credit score of 740 even though i never missed a payment.make sure you always stay under 10% of your available credit. for example if all of your credit card adds u to about 10k.make sure you never owe over $1000 in combine credit. |
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MJ
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It can increase your credit score, but I would only carry two or three credit cards because while your building your credit score up, you mineaswell take advantage of some credit cards offer of rewards/gifts for using the credit card. Getting credit cards with rewards is the best because you get something in return while bills are placed on your account. That's why having two and three cards is important because if you have multiple cards it will take awhile to receive your rewards... most cards you have to spend x amount of dollars before you can receive rewards. |
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The Major
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Not necessarily. It could reflect negatively. You might be better off taking out some small personal loans. Credit cards, although they are lines of credit, they could be considered bad debt. |
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Simon Sucks At Life
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paying your credit card will boost your credit.. not getting more cards... that would do the opposite. |
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Because John McCain Said So
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Nope, It could actualy hurt it. The best way to give your credit score a boost is to pay off your credit cards, or pay more than the minimum. Make sure you don't pay late. |
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haven
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More cards will actually look bad. Every time you apply for a card, it impacts your score negatively slightly. Its better to keep all the cards you have, and keep them at a 0 balance. Never close them - it makes your credit history look shorter than it really is, and makes your score lower. Try taking out a small loan from your bank. Put the money you are going to use to pay it back in an account there. Pay it off monthly. |
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k.louth
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No, just keep one or two and pay on them monthly. Anymore than that could damage your credit. |
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Jason K
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if you have multiple credit cards with balances it can hurt your credit. |
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à®
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There is nothing wrong with having a few cards.
I have 4. It helps my credit BECAUSE....I pay off my balances in full every month.
If you keep a balance on them all it can hurt your credit. |
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