Credit Card Management

A Credit Article Contributed by Annie Bauers

I Have a Hard Time Managing My Credit Cards do I Have Too Many?

If you have to ask if you have too many credit cards you probably do. One thing for certain is that multiple credit card holders get into trouble more often than other credit card holders. This is not to say that one credit card can't get you into trouble but two credit cards is double the trouble if you have a problem managing your credit cards.

You must make your payments on time if you have difficulty doing this with one credit card you are going to be struggling if you have more than one card. A credit card is an excellent way to build and establish credit. Don't overextend your self because one you lower your credit score it is difficult to bring it back up. If you think your credit cards are going to get you into credit trouble you can't get out of maybe its time to take th scissors to your c credit cards until things change!

I Got Offered a Higher Limit on My Credit Card Should I Take It?

It is very tempting to take a higher limit on your credit card but think about it before you do. If you are having any difficulty now making all or your payments on time it won't get any easier when you owe more money. It is hard to turn down a higher limit. In fact some people view this as turning down free money. But its not free money its money you have to back with interest. If you are not financially prepaid to take on more bills don't take the raised limit.

You can always take it in the future when your finances are better. It is better to wait because you can seriously damage your credit if you find yourself in a situation where you can't make your payments. Make all of your credit card payments on time and raise your credit score. If you do this when you take the higher limit in the future you will get a lower interest rate and then the skys the limit! Be careful and get that credit score up!

If it a Good Idea Get a Second Credit Card to Keep for Emergency Use Only?

If you get a second credit card for emergency use only stop and consider if you will really keep it for emergencies only. You might also want to consider what you call an emergency. For some a sale at the GAP when you have no cash is an emergency. If you have the credit card you will be tempted to use it. In addition if you have a credit card you don't use it is not helping your credit because you aren't using it. Keep the card you have and make your monthly payments on time. When you raise your credit score you will be entitled to much lower interest and higher credit limits.