Bad Credit Bad Life

          Almost every time we try to make a purchase we are asked the question, "Would you like to open up a rewards card and save 10% today?" Do yourself a favor and say NO - opening up credit cards with multiple retailers is one of the worst mistakes young people make. If you must, own one store credit card at most, and make sure to pay it in full!! You should have no more than four credit cards in your wallet. Having too many open lines of credit can damage your score, especially if you are only making the minimum payment. You should look at credit card purchases in the following manner: If u can't afford to pay for the item right then and their, you can't afford it.
          If you do need to close accounts, close your newest credit lines first. Creditors like to see long lines of credit history and responsible bill paying. And do not cut them up, always cancel them by phone. Below is a quote that applies to all this credit talk...


"A big stack of plastic can damage more than your wallet seams. More cards mean more temptations to overspend, more chances to have your identity stolen, more headaches if your wallet is lost and more chances to look like a credit risk to lenders."

NEW YORK (Money Magazine)