Is it bad for your credit to have 3 credit cards active?
basically what im asking is is it bad for your credit to have more than a couple of cards open? and whats the best way to build my credit if i am 20 yrs old and have a credit score of 682?
682 is a pretty good score for someone your age. The best ways to improve it are: (1) do not use more than 50% of the available credit line on any one card. That means, if the credit line is $1200, do not go over $600 on the card. (2) Use the card for modest expenses and pay it on time, in full, every month. (3) Keep your cards open for a long period of time – at least three years – even if you just have a $0 balance, as length of credit is important. (4) Don’t apply for any more cards. (5) Keep your total credit card payments to less than 10% of your gross pay, ideally less than 7% of your gross pay.
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