Tawnya currently has six bank credit cards,five retailer credit cards,and a T&E card left over from when she was in sales.She wants to make sure her credit score is as high as it can be.What advice would you give her to improve her credit score?

Question

Quizplus · Accepted Answer

Having too many credit cards can negatively impact one's credit score, so canceling eight of the newest cards and keeping at least one bank card would likely improve Tawnya's credit score. It would also be wise for her to keep her credit utilization low by paying off balances in full and on time each month. Transferring balances or increasing credit limits may not necessarily improve her credit score and could potentially lead to more debt.

Tawnya Currently Has Six Bank Credit Cards,five Retailer Credit Cards,and