10+ Easy How Many Credit Cards Should I Have For Good Credit. Keep your credit utilization below 30 percent at all times. It’s a question i’ve asked myself when i was younger, and i suspect i’m not alone. On the other hand, if you have good or excellent credit (670 to 850, according to experian), you have better qualification odds and could potentially be in a good position to open a new card. A good guideline is the 30% rule:
People who have many credit cards may find themselves in problems here. According to experian, millennials have an average of 2.5 cards each, while baby boomers average 3.5. Staying under 10% is even better.
Approximately 25% of revolving credit is utilized.
However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. Using two or more credit cards can help keep your credit utilization ratio low, which, in turn, has a positive effect on your credit score. A good guideline is the 30% rule:
The Points Guy Recommends The Ideal Number Of Credit Cards Ranges Somewhere Between 3 And 10 Cards.
People who have many credit cards may find themselves in problems here.
Conclusion of 10+ Easy How Many Credit Cards Should I Have For Good Credit.
If you have two credit cards each with a. Opening another credit card could help the score a little (about 4 to 6 points). Most issuers require personal credit scores of 680 or above, especially for premium reward cards, though some go lower.