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Stick to one or two cards
Stick to one or two cards
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It’s a common belief that to have good credit, you need credit cards. The truth is yes… and no. Financial wellness advocate Felicity Aliche recommends keeping at least one but not more than three cards. “Remember, if you have no credit history, you are a bad borrower,” she says. “It’s just like if my 16-year-old relative said, ‘Look, I’ve never been in an accident,’ yet she’s never driven a car, so therefore she’s a bad driver. Well, the same goes for credit.”

However, that doesn’t mean you need to fill your wallet with plastic in order to have good credit, either. “Because the word ‘credit’ is in credit cards, people associate the two, but your credit score is about much more than that,” she says. “Your credit score encompasses many more aspects than cards. It’s about any time you borrow and pay back money, whether it’s a mortgage, car loan, student loan, even your utility bills.”

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