When you have opened credit lines that aren’t used it looks to the credit bureau that you have a bunch of money that you can use. So, for instance, if you have $10000 in unsed credit card lines, a bank will be hesitant to loan you more money because you could potentially get yourself in financial trouble. The best thing to do is to have your single credit card and make a small purchase each month and pay it off. What I did to start my credit was to get a credit card and I bought an outfit each month and then paid it off. This helped me to build my credit.

No. Not using your credit wont hurt your credit score. Just keep in mind that you’ve got to read the fine print before applying for a credit card. Don’t fall for a promotional rate. After the introductory period ends, the “real” APR is usually very high.

Both of the answers below are correct, you want to use credit responsibly. Don’t continue to open new credit cards, one or two are just fine. What she was talking about is debt ratio, if you have lots of credit cards balances and never use them, other credits will be hesitant to lend you money or give you credit. Actually what is the point of continually opening up credit cards with 0% intro APR’s if you are not going to use them? Isn’t one or two enough?

No, it can’t hurt on the short run, your credit score will not be effected, but on the long run, your chances for getting more credit, like mortgages, loans, and other credit cards can be hindered. Also, most credit card agencys suggest that it is better to just leave the credit card open and not close it, if you decide to close the account, so this would be another good reason not to open more accounts.

If you’re going to be responsible with the credit card it’s not a bad idea, but DON’T be late on any payments. Also, don’t ever close that credit card, because that would hurt your credit score.

35% of your credit score is based on how you use credit. If you only keep a 30% balance of your credit limit, that really helps boost your credit score. If you don’t use your credit card after the intro period, that’s okay, it won’t hurt your credit, but it won’t help it either, unless you use your credit card.

Just a suggestion, charge a very small amount every month and just pay it off at the end of the month, that will help your credit score alot….best of luck…..be responsible. My job is, I help people repair their credit….hope that helped you.

Having too many accounts can hurt your credit, however, if you have accounts and don’t use them or stay WELL below the credit limit then this will look good on your credit. Closing accounts actually comes up bad so use this sparingly when wanting to close accounts.