How many credit cards do you need for good credit?

Answer On One Hand: One Credit CardApproximately half of the country has only one credit card. If you are not a big credit spender, than one card will probably be sufficient. With a single card, it is e... Read More »

Top Q&A For: How many credit cards do you need for good credit

What is the optimal number of credit cards for a good credit score?

On One Hand: No More than SevenAccording to the Motley Fool, if you have more than seven credit cards your credit score will suffer. The FICO scoring model, developed by the Fair Isaac Corp., penal... Read More »

What is considered a good credit score for credit cards?

On One Hand: 700 to 720 Considered GoodAccording to CBS News, the median FICO in the US hovers at just above 700. As long as you have a score between 700 and 720 you should qualify for most credit ... Read More »

Does having too many credit cards affect a credit score?

On One Hand: Number of Cards Has No ImpactThe number of credit cards that an individual has does not affect his credit score. Having several credit cards can improve your credit score if you have s... Read More »

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »