Is it better to to have 2 credit cards?
Answer:
There are several factors to consider.
1) To maximize your FICO (credit score), consider leaving both cards open to A) show a longer credit history B) show a more favorable % of outstanding debt to total debt available. Of course pay on time.
2) Pay down the card at least so that it is below the limit. Some credit card companies are nice about this and let it slide, but the terms say they don't have to be nice.
3) Whenever you make a charge to one of the cards, have a specific plan about how you are going to pay it off. Preferably the same month, but if it's an emergency (car repair, medical bills, etc.), use the card but make a clear plan of how you're going to pay it back.
Good luck.
it better not to have any - I am carrying close to fifty G's from going to university and borrowing so much on student loans and credit card - DONT DO IT!!! you will be a prisoner for years if you do
okay this is what I would say,
If your still in college only have one,
once you get out,
keep only ONE!
Cancel one if you seriously cant handle it.
No! ** credit cards! They screwed up my credit so bad. ** visa. Never go with them if its the oe thing you do.
Pay off both cards ASAP and cut them both up. Cancel
both accounts and get a debit card instead. That way
you determine your card limit and there isn't any interest
fees. Credit cards are a trap and will ruin your credit
history for a long time.
Iti s always better not to have any.
And over the limit cards are the worst, they hurt you more than help you
actually if there is balance, you can not cancel it. What you need to do is payoff one (borrow from family or someting) and wait about two to four weeks. That credit card company will send you a balance transfer checks with low (or 0% apr). Use that to payoff the other credit card and cancel with $0 balance. Now you have only one credit card to worry about. Don't get credit card until you could take of the bills.
its better to have 1, its easer to handle, than having 2 cards. As you don't want to send payment twice.
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http://www.bestcreditrates.net/.
Even if you cancel, you still have to pay. Just put it somewhere, mail it to your parents, make it inaccessible and carry on with you payments and your other card.
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