No. of Recommendations: 0
Folks,

I had been lurking here for few weeks now. This is my first post. This subject might have been discussed here but I could not dig that far in the past.

One of my friends told me that some credit cards like retail store cards, gas station cards actually hurt your credit history. Is this true? then what are the good CCs?

Just wondering....
Thanks


Hi Sudheer!

I'm not an expert on the numbers and calculations used for figuring credit scores, though I've heard from people here that some cards are better than others.

That said, I really don't think that you have to worry much about this unless you're aiming for the highest score possible (whatever that happens to be). What I believe is the most important is that whichever kind of cards you have, you want to always be diligent in using the cards Foolishly and paying the bills on time---all the time.

I've got what would be considered a very high credit score, and I've had gas cards, and store cards along with major credit cards. Having them hasn't made a difference, imo. What has mattered is that I am never late with payments. In fact, I always pay each month in full.

I believe "how" you handle the cards is more important than what cards you have.

Best,

Tony
...but I still am...

Off2Aruba
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.