Like it or not, FICO scores have become extremely important numbers in our lives. So much so that I often refer to them as our "personal reputation" in the financial world. Disregard your FICO scores, and you may find it extremely difficult to get approved for anything from apartment rentals, auto loans, and home loans, to a new rewards credit card. Even insurance companies are taking a look at your FICO scores these days to determine if you're a risk worth taking, so there's no doubt that keeping your scores in tip-top shape can save you a lot of hassle and money in the future.
Will too much plastic hurt my credit score?
In order to have a great credit score, it's important to have some credit cards in your wallet and a lot of available credit to use. So, will having too much plastic in your pocket hurt that solid score you have worked so hard to build?
The answer will always depend upon which "credit expert" you ask; however, what you should really be thinking about is your "credit utilization" ratio.