Credit cards — too many?
I have five credit cards totaling over $60,000 I only owe $300 and my credit score is over 800 and every 18 months I get a new credit card because it’s always interest free. Is this a good idea and should I keep this going?
Thanks
Terry Says
No. At some point the credit scoring model will look at the total of your “available credit” and downgrade your score! Keep the oldest cards, and the ones you use to collect points or miles. Do not keep “accepting” new cards, just because they are offered!
