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? asked in Business & FinanceCredit · 1 decade ago

Credit Card and Credit Score Advise!?

I need some advise. I turned 18 this past October and have accumulated five (5) credit cards. I know how to be responsible with them and only use them for purchases I know that I can pay off at the end of the month, while still using each and everyone of them each month. Three are straight credit cards while one is a bestbuy card and one is a gas card.

Does having this many cards hurt or help my credit. I have NEVER been late and never will be.

Do you think cancelling one of them would hurt me although the account has only been open a couple months... I just need some credit advise.

Thanks!!!

2 Answers

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  • bdancer222
    Lv 7
    1 decade ago
    Favorite Answer

    I am surprised that you were able to get so many cards in such a short period.

    Having 5 credit cards won't hurt your score at all. You have to show utilization for them to continue to build your credit. However, you don't have to show purchases every month. You could rotate the major cards every other month and still build good credit.

    Most important is that you not run up balances and that you pay by the statement due date. That will build your good payment history and avoid interest.

    Source(s): BD
  • Anonymous
    1 decade ago

    k

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