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The major reason why I'm walking around with 5 credit cards in my wallet is that, as being relatively new to the country (4 years), I needed a way to boost my c
by melvinmt 11y ago
The major reason why I'm walking around with 5 credit cards in my wallet is that, as being relatively new to the country (4 years), I needed a way to boost my credit score. Note that the recommended number of credit lines (by CreditKarma) is supposed to be 20. I'm working on it :)
- kasey_junk 11y agoFor the record, I view that as gaming the credit cards. That is an oddity of the way that credit reporting agencies work that using 5 credit cards is perceived as better than spending the same amount on 1 card.
- greggyb 11y agoNote that the "recommended" lines of credit is lifetime credit and includes things beyond credit cards. I mention this due to the context of this thread being "US residents have lots of credit cards", not because I think you misunderstand.
- pktgen 11y agoCredit Karma's scores and "recommendations" like that are jokes. Of course Credit Karma wants you to have 20 credit cards - they hope you get them through their affiliate links!