Stop Applying for Credit Cards Now!

You’re drowning in credit cards, but you think you can keep applying for more to boost your score. Wrong! The “credit card garden” strategy is about nurturing what you have, not chasing shiny new cards. Each application can ding your score by FIVE points — and if you’re already carrying the average $6,580 debt at a 20.5% APR, that’s a costly mistake. If you’ve got more than three cards and are still applying, you’re just digging your own grave. Give your cards time to grow; let them age like fine wine. Stop applying for new cards for at least six months to a year. Trust me, your credit score will thank you.