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How many credit cards should one have at any given time?

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CMBV22

CMBV22

Joined: 08 May 2008
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5653 Magic Points

 
Posted on Sat Jul 26, 2008 12:33 am  

Just keep an eye on your CR I am sure that GN is correct that they would have tried to contact you if they were going to attempt to collect. Many times when CAs buy debt they buy it in chunks with many other ppls debt. Occasionally, accounts slip through the cracks and the CAs miss their chance to sue or, the account was sold without enough proof to win a small claims case. Other times the amount due just isnt worth filing a suit and paying someone to show up at the courthouse to argue with you.
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fireyone



Joined: 26 Feb 2008
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Posted on Sun Jul 27, 2008 12:40 am  

Thanks. I am going to check my CR here shortly cause at the end of July I have one that is suppose to fall off and I want to make sure that it does. Hopefully this is a nightmare that will soon be over.
fireyone



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Posted on Mon Jul 28, 2008 2:33 pm  

I sure will. Plus the stress of worrying about the SOL. Had I not run into such misfortunes as of late I would have gladly paid them to go away.
erb1953



Joined: 31 Dec 2007
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Posted on Tue Jul 29, 2008 3:02 am  

Now once you are out of this mess, try not to get back into it. You have learned a hard lesson as we all have. Stay away from the credit cards. LOL
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Posted on Tue Jul 29, 2008 11:56 am  

That is actually my goal. Get rid of the couple cards we have. We will keep the discover because it seems a major credit card is always needed,whether it be for car rental, equipment rental or emergencies. All I gotta get rid of is Lowes and discover. Those were aquired from falling short on money to complete our home so we could move in. Someday I want to look back and say "glad that is over with"
fireyone



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Posted on Tue Jul 29, 2008 11:57 am  

That is actually my goal. Get rid of the couple cards we have. We will keep the discover because it seems a major credit card is always needed,whether it be for car rental, equipment rental or emergencies. All I gotta get rid of is Lowes and discover. Those were aquired from falling short on money to complete our home so we could move in. Someday I want to look back and say "glad that is over with"
CMBV22

CMBV22

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Posted on Wed Jul 30, 2008 7:09 pm  

While I can understand why you would want to get rid of all of your cards after bad experiences; I will advise that you still keep some tradelines open to maintain a good credit score. Credit is becoming more and more important everyday for jobs, and housing in addition to finicail needs.
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erb1953



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Posted on Thu Jul 31, 2008 10:16 am  

I agree, just take the best ones and keep them.

How many credit cards should one have at any given time?
fireyone



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Posted on Thu Jul 31, 2008 12:26 pm  

This is what I heard and I do agree. We have a couple dept store crds like Lowes and sears. I want to be rid of those two just because it is too easy to use them. Basically anything we would buy there at this point would be a want and not a need so I don't want the temptation.
carol

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Posted on Mon Aug 04, 2008 6:59 am  

What I think is that using multiple credit cards actually increases our problem because it becomes very difficult to keep track on our spending. Moreover we need to pay annual fees for all these cards which add to our debt. So I always prefer to use only two credit cards. If you have too many credit cards, what I think is that you can close the newer ones rather than closing the older ones because the old ones add to your credit score.
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goodnatured



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Posted on Mon Aug 04, 2008 9:03 pm  

I personally don't have any, I had a few a couple of years ago and got behind on them, as you said it gets so confusing. I ended up paying out the ying yang for fees and charges and eventually had them closed out.
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CMBV22

CMBV22

Joined: 08 May 2008
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Posted on Mon Aug 04, 2008 9:19 pm  

You might want to consider getting a gas card to improve your credit and get a few cents off per gallon of gas. Personally, I sit down each night and pay whatever I put on my gas card online. That way you keep your balance down and don't get charged intrest on the purchase.
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goodnatured



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Posted on Mon Aug 04, 2008 9:25 pm  

My credit is aweful right now, I don't know if I could get one right now.
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erb1953



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Posted on Thu Aug 07, 2008 11:15 pm  

I use my grocery store to get fuel perks, through giant eagle, I figure I have to buy groceries anyway, may as well get the fuel perks, they also give you fuel perks on your prescription medicine.
fireyone



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Posted on Fri Aug 08, 2008 12:47 am  

I just don't like the big bird much. I find that their prices are way abve Wally worlds. I can not get as many groceries there with the same amount of money. Of course I live closer to wal mart than to Big bird but even if i did I don't think the fuel perks would add up to the money I saved.

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