How Many Credit Cards Should You Have? Building an Excellent Credit Score

Credit Cards are great for building credit history and establishing a credit score especially as an immigrant in the U.S.A, but how many credit cards should you have? In my home country, getting a credit card was something I did not have to deal with but I was able to build my credit from nothing to an excellent score. Here’s how I did it.

The first step is to like this video if you haven’t. This greatly helps me a lot and I will appreciate it. Understand your financial situation before getting a credit card. Having access to the use of money is a privilege that most people abuse. This is not "free" money to be spent unwisely because when debt starts to pile up, it only gets harder to get out of overtime due to interest accrual.

Understand what Credit Card Utilization means which I have explained in this video. In summary, do not use up to 30 percent of the credit available to you unless you pay it off every month.

Use your credit card like a debit card, which I also explained in this video. Out of all the steps, the most important one is to avoid carrying any balance on any of your credit cards. Even if you have a million credit cards, having a lot of balances on your cards means you are not paying off your balances and that will hurt your credit score. Watch the video for details.

#creditscore #credit #card

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[PRISCAOFODILE]

I think this video is very important for people who are just starting out with building their credit score...good job👏🏼

[WagnerSaucedo]

I have 3 right now! Thanks for the great tips my friend!

[AkhilNova]

Great video, Stephen! When I got my first credit card back when I was 19 years old, i immediately maxed it out because i bought a bunch of shoes LOL, then over the years i learned my lesson and went through the hell of learning how to make on-time payments every month and i went from having a 500 credit score at 20 years old to 755 now at 25 years old. Love the content, keep it up! here to support all the way, just subbed :)

[MikeWangCoaching]

I have 3 right now but really only use 2 of them. Thanks for sharing these tips!

[KelechIwuaba]

Me listening and regretting closing my oldest credit card. Wish I kept the card and never used it just to build credit.

[Motivation]

*CREDIT CARDS AND CREDIT SCORE IS SO IMPORTANT! SPECIALLY IF YOU WANT TO BUY A HOUSE IN THE FUTURE! GREAT VIDEO, THANK YOU!*

[akmclemore]

Man I have 7 credit cards already and I think I'm addicted because I found myself shopping around for another one!! haha

[JayFairbrother]

I have 2 credit cards, but only really use one of them. Thankfully I never fell into trouble by having too many credit cards and letting balances accumulate on them when i was younger!

[samspraguefinanceformula]

Chase trifecta is the best combo
Ink, freedom, & sapphire

[unboringmyself]

I only have one credit card and I mostly use it when I need to pay stuff online, and this way if for any reason my codes get stolen, I am only robbed up to the credit card limit instead of full access to my bank account.
Plus, I don't live in the US so I am not sure all the same rules and ToU apply..

nice video! 👏👏👏👏 keep it up

[evangeliamintzai]

I only have one and it's paid automatically every month. No choice to pay the bill myself. But that's a reason why Dutch people have one of the best credit scores in Europe. Unfortunately, we don't have all the points systems etc. Maybe some airmiles but you need to buy lots until you get enough free miles. Our credit score is not announced to us. We only find out when we ask for a mortgage or loan.

[jakeatvantagepoint]

0% introductory rates are attractive for investing!

[ruehem]

I got 4 credit card and next one have to have 25k plus limit

[shawndoe]

Anyone can get a high score that doesn’t matter banks look at your profile & with only 2-3 credit cards it’s going to suck because they don’t have much to go buy they cannot see much responsibility vs someone with 25 credit cards with 25, 000 limits on each 🙄 & I don’t no where you got information but in actual reality people with high scores have multiple amounts of credit cards 💳 not jus 1-3

[nicholasumbro]

Just starting out and just received my first credit card. Should I get another one so I can keep my credit utilization low. If so which one should I get