How many credit cards is too many?

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Posted by Briana Thompson (MONEY FORUMS: 4, Answers: 2)
Asked on May 6, 2016 9:40 pm
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I’m in the “one is too many” category. I think you have to have at least one credit card to build your credit but in my experience I’ve always regretted making large purchases on a credit card. You end up paying for the item over and over again for a long time with a very small reduction in your balance. I’m not the type of spender who buys something on a credit card and then pays it off right away (I wish I was) so I end up throwing a lot of money away on interest payments. Take my advise, don’t do it! It’s better to save up for a large purchase and then buy it out right (for example a used car) than to buy in right away using a credit card.

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Posted by Michelle (MONEY FORUMS: 2, Answers: 4)
Answered: November 8, 2016 10:57 am
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Some people might argue that one is too many, and others might say that 10 is too many. It depends on how much you feel you can stay on top of them all – knowing when the payment is due and what your credit limit is. I have a few cards that do different things (one for gas and groceries, one for office supply stores, etc), and I also use Mint.com to help track my spending.

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Posted by Jessica Ozar (MONEY FORUMS: 2, Answers: 18)
Answered: May 9, 2016 1:24 pm
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