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Belco's Online Banking

Archive for May, 2022

a woman holds her wallet and a stack of credit cards wondering how many credit cards she should have

How Many Credit Cards Should You Have?

access_time Posted on: May 3rd, 2022

As you work to build up your credit score, you may be wondering if you have enough credit cards or perhaps too many. While the number of credit cards is important, what’s essential is understanding credit utilization. In other words, how much of your available credit is in use. You have to use credit to have a strong credit score, but overusing it could hurt you, too. Confused? Here’s a closer look at how to determine how many credit cards you should have. What Is Credit Utilization? Often expressed as a ratio, credit utilization is the amount of revolving credit you’re using right now compared to the amount of credit… read more »