If you are going to own credit cards then try and own the major ones. This is because in terms of boosting or maintaining your credit book the big name brand ones by VISA, MasterCard, American Express and Discover are what you should have in your wallet. They simply carry more weight with the credit bureaus and with lenders who may take a peek into your credit report to see what you have in your wallet.

It is better to have Credit Cards
from the big four companies rather than from gas merchants or department stores because they are considered to be cards from sub-prime lenders by the credit bureaus. They are less elite and your credit does not have to be as good to obtain one.

Even having just one of the cards from one of the big four that issue Credit Cards
is better than having a handful of them from finance companies, gas chains and department stores. In fact having too many second-rate credit cards and charge cards could actually hurt your credit as it can indicate that your credit is not good enough to be qualified for Visa, Mastercard, American Express or Discover.

The best way to consistently increase your credit scores is to maintain just a few high quality major credit cards well over a long period of time. This is because unlike the credit companies and some types of independent lenders the big four – Visa, MasterCard, American Express and Discover always do business with the main credit bureaus. The credit cards that are issued by finance companies through stores do not necessarily report anything at all unless you miss payment. This does not help your credit score over the long term at all and it is an excellent long-term credit score that will eventually get an important loan such as a house mortgage.

It is better to have Credit Cards
from the big four companies rather than from gas merchants or department stores because they are considered to be cards from sub-prime lenders by the credit bureaus.