Does having two credit cards help build credit?

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asked Jan 6, 2020 in Credit by dgeastgoast (200 points)
Does having two credit cards help build credit?

1 Answer

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answered Jan 7, 2020 by Carrie123 (14,510 points)
Having two credit cards will help build your credit score up.

That is as long as you use the two credit cards responsibly and pay the credit card balance you owe off on time.

If you don't pay the credit card balance off or miss credit card payments then the two credit cards could harm your credit.

But having two credit cards open and using them responsibly and making the on time payments or paying off the balances in full on the credit cards can help boost your credit score.

The longer you have those credit cards open and the more payments you make on those credit cards helps to build an age of credit and credit history which is a good thing to show that you're a responsible credit card user.

That helps you get loans and other credit as you keep your credit score built up.

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