[quote name='guinaevere']That's not entirely true.
General bank credit cards are fine. STORE credit cards, like a Target Visa or whatever it is, are NOT good for your credit rating. Having a bunch of store cards actually works against you.
Second, closing a card out also can hurt your credit rating.
If you're only interested in having decent enough credit to get OTHER cards you'll be fine, but when you go to buy a house, your mortgage rate (if you're approved) will be higher, the worse your rating is.[/QUOTE]
Also its key to note that to apply for a store credit card (most stores) you need to have an already existing credit history (another bank credit card) to apply/get approved. No offense to some people on the site but im sure some of you wont meet this requirement since Im sure you arent of age to have established a credit history yet.
General bank credit cards are fine. STORE credit cards, like a Target Visa or whatever it is, are NOT good for your credit rating. Having a bunch of store cards actually works against you.
Second, closing a card out also can hurt your credit rating.
If you're only interested in having decent enough credit to get OTHER cards you'll be fine, but when you go to buy a house, your mortgage rate (if you're approved) will be higher, the worse your rating is.[/QUOTE]
Also its key to note that to apply for a store credit card (most stores) you need to have an already existing credit history (another bank credit card) to apply/get approved. No offense to some people on the site but im sure some of you wont meet this requirement since Im sure you arent of age to have established a credit history yet.