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Seeing someone whip out a stack of flashy cards makes it seem like they have theirfinancestogether.
But not so fast.
As it turns out, having too many can work against you.
People who only have one credit card tend to have better credit scores on average.
According to experts, there are a few key reasons for this.
Read below for their insights.
Also here is the suggested minimum credit score.
By keeping everything consolidated, youre more likely to maintain a flawless payment record, he said.
Salahi advised the same.
Undoubtedly, the key factor driving this trend is the credit utilization ratio, he said.
Having just one card works well for those who are disciplined and prefer simplicity in their financial management.
Maintaining a single credit card account can foster better financial discipline, he said.
Salahi shared the same opinion.
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