Should you have one card, two, ten, or thirty? Think I’m a bit crazy to throw such high figures around? I thought I was too, until I read a recent Reuters.com article that profiled a man with forty credit cards (yes, you read that correctly)! His rationale for having so many cards, the article suggests, is that he can earn tons of rewards points. Obviously, I would not recommend that approach.
Here’s another crazy stat: 50 percent of college students have four or more credit cards, according to Sallie Mae. If you’re in college, you should have only one credit card.
You don’t yet have an income to support your purchases, so there’s no reason to be applying for every credit card under the sun. You should only be using the card for small purchases.
If you’re just out of college and have a steady income, it’s okay to have two or three.
Blogger Comment
Facebook Comment