Trying to rebuild credit file. How many credit cards?
in Credit file & ratings
2 replies 121 views
I am coming to the point where my precious poor decisions are falling off my credit report and my ‘score’ is beginning to climb. I have no defaults on my file now, and have 2 ccjs that have 12 months left before they fall off. Everything else has dropped off this year.
As a result, I’m starting to see pre approved credit card offers on clear score and have successfully applied for a couple, with the plan of using them for food shopping through the month and paying them off in full each month.
My question is, how many credit cards/credit accounts would be considered ‘too many’ when one is trying to build their credit rating? I saw an offer this morning from Tesco which is the first mainstream lender I’ve seen and wondered whether to go for it or not (the interest rate is 12% lower than one of the other cards I have).
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Interest rates shouldn't be an issue, as you should be clearing your cards in full each month.