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| View Poll Results: How many credit cards do you have? | |||
| 0 |    | 13 | 56.52% |
| 1-2 |    | 8 | 34.78% |
| 3-4 |    | 0 | 0% |
| 5+ |    | 2 | 8.70% |
| Voters: 23. You may not vote on this poll | |||
Views: 2319 | Replies: 39
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Join Date: Apr 2005
Location: Dundee, Scotland
Posts: 12,883
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i hate robbers
TRY MY SUGGESTIONS AT YOUR OWN RISK
Master of puppets Im pulling your strings, blinded by me, you cant see a thing. Master! Master!
Master of puppets Im pulling your strings, blinded by me, you cant see a thing. Master! Master!
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Join Date: May 2007
Location: USA
Posts: 3,090
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Originally Posted by Infarction 
I currently have 2 credit cards, one of which I make nearly all my purchases on (though it's always backed up from my checking account so I'm never in debt), and one which I never use and should cancel. I'm looking to maybe get a different one though...
If you only have the two cards and have a good credit history on both of them, you may want to keep the unused card for the benefit of your credit score. This article discusses the details: http://www.fool.com/investing/small-...dit-cards.aspx
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Join Date: Mar 2007
Posts: 1,449
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My dad says, that if you have too many credit cards, it can count as a liability against you when you apply for a loan.
I upped my sanitary measures, up yours!
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Join Date: May 2007
Location: USA
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Originally Posted by Lardmeister
My dad says, that if you have too many credit cards, it can count as a liability against you when you apply for a loan.
This is true. If your total available credit, which is the total of all credit lines available to you, exceeds a certain percentage of your income, it can lower your credit score. That must be weighed when considering whether to keep or cancel old cards or if you are considering a new card.
Even if you have no balance on any line of credit at the time, if that credit is available to you it is a factor in your score. For all they know, you could max all those cards tomorrow and go from zero debt to total available credit in debt.
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Join Date: Oct 2006
Location: New York City
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Join Date: Jul 2006
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Junior Poster in Training
I have two. Both are always paid off each month so interest is avoided.
One is for day-to-day purchases and preauthorized monthly purchases such as telephone, Internet, gas, bills, etc.
The other is hidden away at home and used only a couple times per year. This card is for online purchases (i.e. - on Amazon) and has the lowest limit possible. My theory is that, if somebody does ever get my card data, having an extremely low maximum will limit the damage they can do.
One is for day-to-day purchases and preauthorized monthly purchases such as telephone, Internet, gas, bills, etc.
The other is hidden away at home and used only a couple times per year. This card is for online purchases (i.e. - on Amazon) and has the lowest limit possible. My theory is that, if somebody does ever get my card data, having an extremely low maximum will limit the damage they can do.
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Join Date: Aug 2007
Location: New Hampshire
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That is a very good idea DavidB
A room without books is like a body without a soul.
Facts are meaningless. They can be used to prove anything that is even remotely true.
Go then, there are other worlds than these.
Facts are meaningless. They can be used to prove anything that is even remotely true.
Go then, there are other worlds than these.
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Join Date: Mar 2007
Posts: 1,449
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You sound like a wise person DavidB!
Did you know that banks in the US mail out 8 billion credit card applications every year!
Did you know that banks in the US mail out 8 billion credit card applications every year!
I upped my sanitary measures, up yours!
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Join Date: Dec 2005
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> Did you know that banks in the US mail out 8 billion credit card applications every year!
And they wonder why there is so much fraud?
A couple of years ago, I was getting one or two of these PER WEEK. Some of them were disasters waiting to happen (we've filled in all your personal details for you, all you need to do is sign and return).
In the end I joined several mailing preference services and basically ticked "no" to all the boxes of are you interested in "foo". Now all my post is just the high value stuff which I expect to get.
And they wonder why there is so much fraud?
A couple of years ago, I was getting one or two of these PER WEEK. Some of them were disasters waiting to happen (we've filled in all your personal details for you, all you need to do is sign and return).
In the end I joined several mailing preference services and basically ticked "no" to all the boxes of are you interested in "foo". Now all my post is just the high value stuff which I expect to get.
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Join Date: Mar 2007
Posts: 1,449
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The flood of credit card applications:
My dad says, be careful when you trash these things. Someone can easily have a card issued in your name for his/her use. Tear them up in small pieces or shred them.
My dad says, be careful when you trash these things. Someone can easily have a card issued in your name for his/her use. Tear them up in small pieces or shred them.
I upped my sanitary measures, up yours!
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