Credit cards

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Kijek
Passionate
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Posts: 427
Joined: Fri Jan 05, 2018 16:05
Location: Stamford, Connecticut

Credit cards

Post by Kijek » Tue Jun 26, 2018 08:21

Hey my friends I'm starting to get back into the game after my total knee replacement surgery.
Had something on my mind about credit and credit cards, and though WTF ... I'd ask some old friends on what their thoughts may be, then we'll put it to rest and get on with the meat stuff.

Ok they say it's best for your credit score to keep your credit usage under 30% of your available credit limit.
So, I have one card with $8000 credit limit, more then I will most likely need at on one purchase, and I earn points, my 4 other cards average $500 each, one has some point advantages.
I'm starting to understand that, I might as well use the card with $8000 dollars credit for everything, since I will most likely never go over 30% of my available credit,.
Now as time goes on, the other cards may be canceled and/or closed due to non-usuage; is this a bad thing to happen?
Also, with all those other accounts closinged , does having one (1) or less accounts hurt your credit?
To summarize, my 5 acccounts are far to much credit then I need at this time and maybe for some time. The one card with $8000 credit is plenty, Should I just stick with this one card company and let the others just sit and go stale and let the card companies close out the accounts?

If there is anyone into watching credit scores and/or understands this subject, please what are your thoughts??????
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