Before you sign up-some important advice.
Chris Prouxl knows the frustration of being bombarded with credit card offers.
When we first talked to him in November-he was getting 30 to 40 a week.
These offers can seem so enticing: zero percent introductory rates, attractive cash-back options, and no annual fees.
But Consumer Reports warns-your credit score can take a temporary hit when you apply for new cards.
Chris Fichera of Consumer Reports says, "Each time you apply for a card your credit score can take a hit, and you might not want to risk that if you're applying for a mortgage or other significant loan in the near future."
But if you already have a lot of cards, don't worry. Contrary to popular belief, having several cards may actually help your credit score...if you use them wisely.
Fichera says, "The more credit you have available, the better it is for your credit score. But you still have to keep your spending well under your card limits and keep making your payments on time."
Another common misconception-that you should hold on to your oldest card no matter what.
Fichera says, "How long you've had credit does count for 15% of your credit score. But even after you ditch a card, it can still count toward your score for as long as ten years."
If your overall credit history is healthy, it may be a good time to get rid of your old cards if you don't like their terms.
If you'd like to stop the offers from bombarding your mailbox, you can opt out.
Call (888) 567-8688 or go to prescreen.com.