Tuesday, February 28, 2012
Conquer Clutter: Reduce the Number of Credit Cards You Have
Have you looked in your wallet or purse lately? Did you notice how many credit cards you have? Having too many credit cards can hurt your credit rating. It is best to limit yourself to 1-2 credit cards. What a nightmare it could be if your wallet was stolen along with a lot of different credit cards in it. Check with your credit card company before closing accounts to see how it will affect your credit score if you choose to close it. You can always put your extra credit cards in a container with some water and freeze them so you can't use them as easily. If it will hurt your credit rating too much to cancel the extra accounts, then just leave the cards at home when you go out and only carry one or two cards total. Next time you are offered the extra 10 percent to open an account, simply refuse and get out of the store as soon as possible before you change your mind.