While it may be tempting to adopt a policy that more is better when it comes to credit cards, it is not necessary to have more than 6 credit cards for most credit purposes. While as with all credit matters there are exceptions, a minimum of 4 credit cards will help you meet most tradeline requirements for most loan programs.

The most common credit card tip is to grab all your credit card statements and see what credit card charges the highest interest rate. When you find the credit card with the highest rate you should apply as much as you can to that credit card while making minimum payments on the other credit cards. Once the credit card with the highest balance is paid off move on to the next credit card with the highest interest rate. Repeat this process until all your credit cards are paid off.

It is important to make sure you spread out any balances over a few different credit cards. For a maximum credit rating, you do not want to exceed a 30% balance to credit limit ratio. If you have recently paid off a card, do not close it but rather use it for small purchases and pay it off monthly.

To make sure that your credit cards do not hurt your credit score make sure that you pay your balances on time and pay off your balances.