Test asked:


I heard having too many credit cards can lower your FICO score even if you pay them full each month. How many can you get before they drop your score?

I had problem getting a credit card when I had no credit history and then after I finally got one, I had difficult time getting another one, because banks said I had “too few” revolving accounts. Now I have 5 credit cards and only 1 of them carry balance. My balance to credit ratio is 6% and my FICO score is 740.

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Kat asked:


I know having too many is not good for a person’s credit score and looks bad to those checking this credit. But not having any credit (such as cards) is not good either. So is it best to have more than one card?

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Zoxx asked:


Right now I have 10 Credit accounts open. Ranges from $424.00 to $5200.00 with a credit score of 728.

I have $0 balance all of my cards at this time.

I just applied to get a motorcycle and they denied me saying that I have too much revolved credit open.

I rent a apt due to the high housing prices. I have yet been able to afford a house due to those circumstances.

I have a couple questions that I hope can be answered.

1. How many Cards should I have open at one time?

2. I have heard having allot of closed accounts on your credit report looks bad. T or F (Explanation Please)

3. I have heard that you should always keep a small balance on all your cards. T or F (Explanation Please)

4. Should I try and get an outside loan from a banker or lender to get a lower APR than what they are offering at the dealership?

5. Any other useful tips to help keep my credit score on the rise without accruing allot of debt?

Thanks Allot.

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I Love My Sailor asked:


I have four credit cards and I want to put the amount owed all onto one credit card with a lower intrest. I also don’t have very good credit. Any help would be useful. Thanks.
The amount owed is not more than 1,500 between the four. I always pay double of what the minimum payment is.

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erica_bischoff asked:


I know a lot of places say you can get a loan with bad credit, but I believe the catch with these places is that you can still get the loan with bad credit, but your interest rate will just be high. So I have 2 questions. First, what are some interest free loans? I know there are some because I asked and somebody said there are some, but they did not tell me what they are. Second, can you get any of the interest free loans with bad credit and still be able to have no interest? And if not then what is the lowest interest rate loan you can get with bad credit? I do not have bad credit, I am just asking.

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ibonner32 asked:


I am a college student with a high past due bill. I can’t go back until it’s paid. Just wondering if anyone knows of a program or loans for people with very bad credit.

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