 TITLE: Can Having More Credit Cards Help Your Credit Score? CONTENT: How Multiple Credit Cards Can Hurt Your Credit Score\n----------------------------------------------------\nIt's generally not a wise idea to open several credit cards at the same time. Here's why:\n*   Newer accounts lower the average age of your credit history. Credit scoring methodologies reward you for longer periods of credit usage. Newer accounts haven't given you the opportunity to demonstrate positive spending and payment behavior, and as a result, your credit score can suffer.\n*   Applying for new credit means the lender will ask to evaluate your credit report, leading to a hard inquiry on your report. Hard inquiries can cause a temporary drop in your credit score, though typically only by a few points. Applying for new credit, especially many new credit card accounts at once, can hurt your score.\n*   Since having more credit cards means you'll have a higher credit limit, that could tempt you to spend more than you can afford to pay off each month. Carrying a balance from month to month, using a high percentage of your credit limit and paying late can all damage your credit score.\n*   More credit cards also means more due dates to keep track of. If that is difficult for you to manage and you're at risk of paying late, applying for several credit cards may not be worth the possibility of damaged credit.\n*   Closing a credit card can lower your score, since that can reduce overall credit limits (possibly increasing utilization). So when you open a new credit card, it's generally best to stick with that card for the long haul. If you're not sure you want to use it for the long term, consider avoiding opening the account. END