Oh, I knew you were. Unfortunately, I'm boring and only have three cards. This meme comes courtesy of Tired But Happy. And yes, I did log in to all my accounts to verify all of these just now. =)
Stockback MasterCard from MBNA: $3800 limit, $890 debt at 9.9%
PerfectCard MasterCard from Chase: $7500 limit, -8 cents debt
Universal MasterCard from Chase: $8500 limit, $6983 debt at 3.9% fixed
I used to have an American Express jointly with my parents for emergencies in college - it had a $16,000 credit limit. We have since closed it but it still remains marked as open with $0 owed on my credit report. I won't be contesting it. =)
If you want to participate, drop her a comment so she can add you!
Monday, July 03, 2006
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2 comments:
It's definitely OK to have a couple open credit card accounts. But since you already have 3 active accounts, you might want to make sure the American Express account you had with your parents is actually closed.
It might seem better to have more open accounts, since this means creditors obviously trust you. But too much available credit actually can hurt your credit score.
I can't agree that to have three accounts is terrible. Having a little bit of each type of account, keeping your balances low, being on time with your payments, and showing a strong history of paying on time will all improve your credit score. So, if you can manage your credit card debt wisely, you may have three or even more accounts for good credit history.
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