I have 2 credit card and thinking about getting another one from Capital One, Is three to many credit cards?
Answers:
If you are trying to build a credit history, 2 or 3 cards is plenty. If you don't use the cards very often, you should be fine. I don't suggest apply for more than 1 card every 9-12 months as applying can hurt your score just as much as having to much credit.
then 1 credit card is enough and 2 is too many
Yes, 3 credit cards are way too many, unless they are 3 different types in the event that a store does not accept AE or MC or Visa. Keep the balances low, and you won't be tempted to charge your way into a bad credit score. Remember, just because you have 10K worth of credit does not mean to go out and spend that much. Remember for every dollar you spend, you have to add on 12 cents or whatever to consider intereste. If you buy a burger on credit, think about how expensive that can be after interest is added on, plus tax.
that's fine, but it is advisable that you should have 1 or 2 credit card/s for small limit & 1 credit card for large limits.
i hear that capital one is not one of the greatest cards to have also you might want to stick with the 2 you have right now
3 revolving accounts is fine on your credit. But Capital One is not the card to get. In 2001 Capital One testified before Congress that they routinely withhold credit limits from credit reports. This has the effect of deflating their own clients' credit scores. Why would they do that, you may ask.. The way they see it, the lower their clients' credit score goes, the less likely they are to be able to shop around for a card with a better rate. What's in YOUR wallet?
Try American Express - they are very good to have on your credit report.
Good luck to you!
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