Can YOU Handle Juggling Multiple Credit Cards?
First things first – having a lot of credit cards at hands makes it stupidly easy to blow all your money away. This also makes it possible to raise your credit score, improve on your credit report and get a lot of nifty bonuses.
So this is the question: how do you know if you will benefit from holding multiple credit cards or will just get yourself in a whole lot of trouble?
Simple: “Personal responsibility“.
That’s about the only real factor that will determine if you can make the most out of holding ten, twenty or even forty credit cards all at once.
A financially responsible individual can make sure to monitor all expenses, pay off credit card charges, watch out for identity theft and maximize credit card bonuses. This will require a lot of time, energy and self-control on your part, though, so avoid being too quick to overestimate your capabilities.
You may want to hold off experimenting with credit cards if you are planning to make big purchases sometime soon, like real estate, a car etc. Lenders can get all jittery when they see you can pull out a hundred grand right off the bat.
Keep all this in mind before applying for a dozen cards or so and you should be able to boost your credit score nice and easy.