| Grimes said: If you want good credit, don't open new credit cards up just to save a few bucks. Instead, buy a card with good terms, hold a balance occaisionally, and pay in time. Like others have said opening new cards reduces your score and the open line of credit from additional cards also lowers your score. I have owned 3 credit cards in my life and I have an 800 credit score. I didn't get such a high rating by getting a new credit card every time I wanted to save a few bucks. And I have gotten hundreds of dollars in cash back over the years from my purchases. |
That is very impressive! Do you think that could be achieved with just one card?
