My question is whether I should obtain another credit card. I presently have a credit card that I have had for 15 -16 years and I always pay it off however it doesn’t give any return for charging. I also have two retail credit cards. I was thinking about getting another credit card that would provide me cash back on charges with no annual fee. Should I sign up for this new card and if I use the new card all the time to obtain the cash back what happens to the first credit card that I have had for many years (and probably gained some good credit from) if I don’t use it?
Terry Says: That first credit card should be kept — as it shows longevity of credit, which is important to your credit score. You can use it once in a while, and pay it off in full and on time. Then choose your second card wisely. Here’s a link to the credit card comparisons section at Bankrate.com for “cash-back” cardshttp://www.bankrate.com/credit-cards/cash-back-cards.aspx. You can get points, miles, cash back. It sounds like you’re very responsible so I’m not worried about you having an “extra” card to use for the majority of your purchases.