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flamesfever · 07-26-2007, 10:22 AM

I believe your credit should expand as your need for it expands. I don't see any advantage in having credit you don't require.

I have found that it is important to establish a good working relationship with one lending institution, so that they are able to see how you conduct your affairs and are there for your when you need additional credit eg. require a mortgage to purchase a house, or line of credit to start a business etc.

How you pay your debts is a mark of your character, not that we all suffer from setbacks from time to time and have to adjust accordingly.

As for credit cards, I used to have many credit cards and found that the fewer the better. Now I only carry one card, and it makes things a whole lot easier to keep track of things. A while ago, while going to a Flames game, I mistakenly applied for another card in order to get a jersey. The card came and I never activated it. In spite of this it reduced my credit rating a small amount, and I understand will stay on my record for 5 years.

Establishing credit is a very important thing. Paying off your school loan in an efficient manner is a good start. Also, as others have suggested, educate yourself as much as possible with regard to financial matters.

07-26-2007, 10:22 AM	#37
flamesfever First Line Centre Join Date: Aug 2004 Exp:	I believe your credit should expand as your need for it expands. I don't see any advantage in having credit you don't require. I have found that it is important to establish a good working relationship with one lending institution, so that they are able to see how you conduct your affairs and are there for your when you need additional credit eg. require a mortgage to purchase a house, or line of credit to start a business etc. How you pay your debts is a mark of your character, not that we all suffer from setbacks from time to time and have to adjust accordingly. As for credit cards, I used to have many credit cards and found that the fewer the better. Now I only carry one card, and it makes things a whole lot easier to keep track of things. A while ago, while going to a Flames game, I mistakenly applied for another card in order to get a jersey. The card came and I never activated it. In spite of this it reduced my credit rating a small amount, and I understand will stay on my record for 5 years. Establishing credit is a very important thing. Paying off your school loan in an efficient manner is a good start. Also, as others have suggested, educate yourself as much as possible with regard to financial matters.