Summary of Choosing a Credit Card

Credit cards can be addictive—once you’ve got one or two, the offers start rolling in and you get hooked on all that goodwill and trust that those big companies are willing to give you. And then there’s all that money you have at your disposal. It’s enough to make both you and the credit card companies salivate.

On one hand, it’s good to have a few cards, perhaps one from a bank or credit union and perhaps a store card. You want to build up a good credit history so you can qualify for things like mortgages or business loans in the future. But having too much open credit can harm your credit score because you will be perceived as undisciplined or reckless.