How many bank accounts and credit cards should I have?
Pepper asked:
I am currently a college student with 2 checking accounts (Wamu- 3 years & BOA- 1 year) and 1 credit card (Citi- 1 year). I have always met the requirements for my checking accounts and paid all my credit card bills on time. As for loans, I do have about $10,000 of student loans in debt. I was wondering if it is okay for me to get another credit card. Also, many say that having a lot of credit cards are bad for you. What is the reccomendation of how many bank accounts and credit cards should I have so that my credits would not go down? Thanks in advance!
Natalie
I am currently a college student with 2 checking accounts (Wamu- 3 years & BOA- 1 year) and 1 credit card (Citi- 1 year). I have always met the requirements for my checking accounts and paid all my credit card bills on time. As for loans, I do have about $10,000 of student loans in debt. I was wondering if it is okay for me to get another credit card. Also, many say that having a lot of credit cards are bad for you. What is the reccomendation of how many bank accounts and credit cards should I have so that my credits would not go down? Thanks in advance!
Natalie
May 25th, 2009 at 12:20 am
If you can manage credit card go for it, but make sure you pay on time and fully, since more card you get its difficult to track each card, as far as account goes open a high yeild savings accoutn with HSBC, ING or similar bank which has yield around 5% and deposit some cash in that monthly.
May 28th, 2009 at 11:09 am
have as many as possible
max them all
then die with no assets
Screw them all they cant make you pay when ur dead
May 29th, 2009 at 5:59 am
what is it with you young folks and your need for many credit cards. go ahead and get another three or four so in a few months you can ask “i am three months behind on two of my credit cards will this be a bad mark on my credit rating. than in three more months you will be asking where can i get a low interest note to pay off all of my high interest bills — ps my credit rating is in the sewer. the best advise i can give you is keep the one you have = add no more and keep up the payment == you have enough to worry about making good grade you do not need the hassle of collectors banging on your doors.
May 31st, 2009 at 7:54 pm
2 credit cards is not bad idea
one big and other small will be good
use one for all ur regular uses
keep other one safe