Is it bad to have multiple credit cards?
Is it bad to have multiple credit cards?
I was watching TV this morning and this lady said if you have a credit card with a balance owed on it you should ONLY pay the minimum balance each month. I always thought you would want to charge something and pay it off as soon as possible. Also, the lady said to close your credit accounts as soon as the card is payed off. But I read somewhere that having multiple lines of credit open will actually increase your credit score. As long as your aren't maxed out on all the credit cards. So lets say I have a balance of $650 on my credit card. Would it be better to pay the minimum due each month (which is $35) or should I pay it off as soon as I can? And what if I have 4 credit cards in my name. Only 2 of them have a balance owed and the others are paid off. Would it be best to keep these cards open and continue using them occasionally or should I close the accounts that I don't owe anything on?
ANSWER: For Finance and credit solutions I visit this site where you can find all the solutions. creditandfinancesolutions.info
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I was watching TV this morning and this lady said if you have a credit card with a balance owed on it you should ONLY pay the minimum balance each month. I always thought you would want to charge something and pay it off as soon as possible. Also, the lady said to close your credit accounts as soon as the card is payed off. But I read somewhere that having multiple lines of credit open will actually increase your credit score. As long as your aren't maxed out on all the credit cards. So lets say I have a balance of $650 on my credit card. Would it be better to pay the minimum due each month (which is $35) or should I pay it off as soon as I can? And what if I have 4 credit cards in my name. Only 2 of them have a balance owed and the others are paid off. Would it be best to keep these cards open and continue using them occasionally or should I close the accounts that I don't owe anything on?
ANSWER: For Finance and credit solutions I visit this site where you can find all the solutions. creditandfinancesolutions.info
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ANSWER: For Finance and credit solutions I visit this site where you can find all the solutions. creditandfinancesolutions.info