Comments on: Credit Card Tips that Make Good Financial Cents

By: Carnival of Personal Finance #224 – National Dog Week | My Life ROI, Getting the Best Return On Life

Mon, 28 Sep 2009 09:42:45 +0000

[...] Jeff Rose from Good Financial Cents presents Credit Card Tips That Make Good Financial Cents. [...]

By: Friday Links | The Canadian Finance Blog

Friday Links | The Canadian Finance Blog — Fri, 25 Sep 2009 09:06:00 +0000

[...] Good Financial Cents credit card tips that make good financial cents. [...]

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Wed, 23 Sep 2009 16:41:01 +0000

I’m going to echo Craig, despite the fact that I’m extremely anti-credit card having multiple for diversification? I’m not getting that one at all, other than yet another batch of debt trouble you could get into.
Paul @ FiscalGeek´s last blog ..Save your Water Damaged Cell Phone with a Bheestie

By: Kyle

Kyle — Wed, 23 Sep 2009 12:31:57 +0000

@Craig, it would affect your FICO score if you were to close the old credit card out because you would have a shorter credit history. On the flip side if you kept them both open your available credit to used credit ratio would increase which can sometimes be a positive.

I agree with you though, I don’t think there is a reason to have multiple credit cards on hand.
Kyle´s last blog ..You are Nothing Without a Good Defense

By: Craig

Craig — Tue, 22 Sep 2009 15:28:29 +0000

I know people say get multiple but why? I understand that some places don’t except all cards, but I have never had an issue with my Mastercard. the only reason I would want another card would be for miles rewards. If you switch cards, does it affect your FICO score in some way?

By: Miranda

Miranda — Tue, 22 Sep 2009 15:28:19 +0000

Thanks for a great post on some good tips. I think credit cards can be great tools — as long as you use them wisely and have a plan. Just like any other aspect of your financial life, it is a good idea to have an idea of what you are going to do with your credit cards, and diversify them.
Miranda´s last blog ..Congress Takes Aim at Overdraft Charges