Re: Credit Question - How many cards is too many?


Sharona wrote:
Background:
I have three major credit cards. A Visa, a MC, and a Discover. I shop
a LOT online, and have reserved the MC for online shopping only. All
cards are paid off in full each month. My MC was just closed by the
issuing bank because of personal information theft from an unnamed
merchant with whom I had done business with in the past. There was no
fraudulent activity on my account when it was closed. A new card and
number is being issued. While waiting for the new card, I began
thinking of alternatives.

Since I do a lot of purchasing online, is it worth taking advantage of
credit cards offered by individual merchants? For example, If I use a
LLBean Visa, I get free shipping at LLBean. If I use an Amazon Visa, I
get 3% back towards future Amazon purchases. I am considering applying
for two new cards to be used exclusively at two online merchants with
whom I do business with regularly. Will this jeopardize my credit
rating or score? These cards would, of course, always be paid in full
and on time.

Thanks for your insights!
Sharona

The mere fact of your being able to pay off all three credit cards by
month's end garners nothing but kudos from me, my dear. I myself have
never bothered with credit cards; however, I am the happy owner of a
debit card. Have you considered getting a dc yourself?


W : )

.

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