Do you use multiple credit cards?

[1imaginarygirl]

Friendly PSA because it seems many people don't know this...

Don't cancel your credit card unless it has an annual fee. If you want to avoid temptation, just cut up the card. Closing the account hurts your credit rating.

Really! Interesting tip I didn't know that, thanks. So what happens when the card expires? Do you keep renewing it forever only to destroy the cards?

Well technically, you should put a small purchase on it every now and then to keep it active. The credit card company will eventually review your account and will close it if there has been no activity for a long time. But I've had open accounts for many years without an actual card before they closed them. The longer your accounts are open, the better.

Also if you have other debt, closing an account will increase your utilization. Credit bureaus like to see less than 30% utilization. So if you have 2 credit cards with $1000 limits on each and you make a $500 purchase on one of them, your utilization is 25%. Then if you close one of the accounts, your total credit available drops to $1000 and your utilization jumps up to 50%. So your credit rating will drop until you pay down that $500. And that is not necessarily a big deal, unless your credit is already not too good or you plan to apply for a big loan in the near future, like a car loan or mortgage.

[dancer139]

I have 2 credit cards that I use all the time,,,,    I get rewards with both of of them so that is why I use them.  I also pay them off as soon as I use them also.   I don't like carrying at balance on them.   

[sdenimandlace1]

I have a couple, One has a large balance, the other does not hope to pay it off this year.

[judylucas]

I have several credit cards but it's very rare for me to use them  sometimes use the Kroger one for the perks I get

[mardukblood2009]

I have 2. I use one to get 2 points when I get gas and the other for 1 and half points on all purchases. They are both room Chase.

[autumnsparklemom]

I have just one...

[hawkeye3210]

I don't have any, they can be some what of a bother, all of those added fees for using them.

Most don't have any fees if you pay on time.

[ghunter]

Yes, I do but I try not to use them

[snuggleycutejc]

None for the moment, but, only if I have too.

[tantricia44]

Don't have credit cards just debit cards.

[beatsdrop]

Nope.

[dsosnowski06]

I have three. The first is a low limit high APR card I got to rebuild my credit after some financial struggles. I only charge Netflix on it and pay it off every month to keep it active. The second is a 1.5% cashback card that I use most of the time. I bought some furniture and mattresses near the end of the 0% intro period. So I just got my third card, because it has a long 0% balance transfer period, so I transferred the balance from my second card to this one. Got to be strategic about it. 

I have two. One that I use in emergency and for big ticket items.  The other one was opened to get the 21 months of 0% interest on a the balance transfer.  I also transferred the balance and now only have one payment to worry about each month and no interest charged.  Great way to pay down debt

[alice44]

I have 3 but mostly use 2.  One is more for business things, and the other for personal things.  I never use my debit card unless absolutely necessary.  Not as safe at all.

[ccandpam]

I have a Debit Card and two Credit Cards that I use. It is kind of hard to keep up with due dates. I write them in my Daily Planner so that I can keep up with everything.

[PGS28]

I use multiple debit cards.