How many credit card tradelines should one have?

Answer 1

It all depends on your goals and your current credit history. You typically want a mix of credit if you want a higher score, which in turn helps you get better cards with better terms and higher limits. A safe approximation to how many credit cards you should have depends on how long you've been using credit, so start with one or two, and build* until you have three or four lines (or more if you wish). Just remember to have a MIX of credit- your score can drop or stay low if you only have credit cards on your credit report...

* in order to build and maintain a higher score, you need to exercise discretion and patience. Getting a high score doesn't happen overnight...