How many credit cards (pay, rate, balance, bonus)

[tarajane2013]

I am trying to rebuild my credit and have 2 established cards that I am faithful on paying early. I am NOT a big spender, gas, food, etc. How many credit cards can I have without having too many ? I would like to have 1 more, a gas card. Thank you.

[Pitt Chick]

Why do you want a gas only card?
Can't you use at least one of what you have at a gas station?

[tarajane2013]

It doesn't have to be a gas card I can use the others but just wanted to know if one more credit card would not be advisable for bettering my credit history showing I can pay for 3 on time.

Originally Posted by Pitt Chick

Why do you want a gas only card?
Can't you use at least one of what you have at a gas station?

[Aredhel]

Spreading out your current spending over three cards will lower the percentage of credit utilizated on each card, which usually helps boost your score a bit. But you'll want to make sure you don't boost your overall spending just because you have a third card! You don't want to find yourself sliding back into credit card debt. Don't get a third card unless you are SURE you can pay off all of your cards in full every month.

[wheelsup]

If you're not a big spender as you state, I would seriously consider how much having a gas card would really save you. I bet it's negligible, and probably not worth the headache. Unless you open up a card for the bonus points that you can then turn into cash. For example some cards have had $500 in rewards that can be redeemed for Walmart gift cards etc. if you spend $3000 in three months. That would be worthy of opening a new card IMO.

[tarajane2013]

Thank you all for the help ..Have a blessed day

[gatorxxx]

You don't need a gas card, find another one with a low interest rate and no annual fee if you must have another one.

[rjm1cc]

I do not think your will be hurt by having a lot of cards as long as they are all paid in full and on time. In fact they will help a little because you will have a lower utilization of your total available credit.

I would use no fee cards that give you a cash back reward or a gas card that gives you a lower price per gallon.

I think you need a few cards, especially when traveling. If you lose a card or someone fraudulently uses your card it could be placed on hold or canceled (you will get a new card). Maybe the card reader can not read your card. You may also find times when a vendor does not take a certain brand or card. Thus I would get a VISA, Master Car, Discover and Amx. If married have spouce get cards in their name. You do not have to use all the cards. Based on rewards you may use one for grocery's and a different one for eating out.

[Labonte18]

Originally Posted by gatorxxx

You don't need a gas card, find another one with a low interest rate and no annual fee if you must have another one.

Depends on the benefits. I've seen some gas cards that save you a nickle per gallon, which, isn't all that great.. Others that if you use that card, you get the cash rate for gas, which usually saves 10 cents per gallon.

All depends on what the cad will give you, assuming that you pay it off monthly and aren't paying interest on it.

I keep a Lowe's and Home Depot card.. Simply because if I spend over $299 with either, it's no interest for 6 months. I just put $400 or so on a new mower and weed eater.. I COULD pay it off now, but.. I'll milk out the 6 month free loan.

[leastprime]

Paying off your CC balance may not help you build much credit. Ironically, keeping a small carry balance for a few months, builds credit faster.

Also having a low credit limit also hurts. ie, maintaining a balance of $100 on a $1000 card limit is worse than a $100 balance on a $10,000 card.