Hello friends:
How does it affect on the credit history or score by having multiple credit cards but using just one of them? Do I need to close the others which I am not using? (I am keeping them just in case if I need them in future)

Also, if I am paying a high APR on one credit card, is it okay to close its account and order a new one from another company with 0% APR on purchase for the initial few months? Have you done that? How does it affect on the score?

Sincerely,
phantom

Ok, a few hints...but you should go online and review the policies...even yahoo has a lot of advice on credit cards and scoring...

-It is okay to use one card and not others but you should also know that companies will not increase your credit by a large amount if you do not use it. If you use it more and pay on time, they are likely to increase your credit limit....higher the limit, higher the score.
-Spend within limit-less than 25% of your total limit and do not miss out on payments...if you do miss, talk to the company and ask them to consider it for one time....before they put it in your credit history.
-You can close one card and get a new one with better options but remember that every time your credit history is pulled, it will have some negatives on your account. So, frequent applications to credit cards are not advisable.
-I would advise you to use different cards every other month or so...this will help you increase credit limit on those cards...

Thanks bibas100. That was very helpful.

One interesting experience: I was using only one card for the last one year or so. I did not get much increment in the limit in it over that period whereas to the other one which I was not using, they increased the credit limit by more than I expected margin. May be they did not want to lose me coz I was having a good history through the one I am using? You never know, there are many factors that affect the history. *sigh*

Here is the article of credit report and credit score tips and tricks

http://money.aol.com/creditdebt/reports 

******DO NOT CLOSE ACCOUNT****

If you want to boost your score do not close account.

Those old account shows your payment history from begning in report. The longer green history in your report the better score. 

Do use all credit card frequently that doesn't mean max out. Use two card this month and keep at home next month,yse another 2 next month and on and on.

Do not charge over 75% of your limit at any time.Maxout will drop your score.

It does not matter how much you charge monthly on card, It matter when you pay the card.

You can pay all amount on due date.

***Do not pay late even one hour after your due date.*****

To avoid that set up online account and you can pay anytime.

if you do not have money to pay then pay minium amount on due date then pay rest later.

if you have cell/home phone,electric etc remember those also to pay by due date.to avoid late payment put all of those bills on one credit card so they automatically charged on due date.you don't have to worry about those 3 bill and late payment. you can always get your paper bill to review anyway.

If you subscribe any thing on trial period which said bill me later make sure you pay them or cancle that.Even 1 dollar remain and they did not get paid,they may send to credit report.

**Try to avoid collection account.***

spirit

 

******DO NOT CLOSE ACCOUNT****

If you want to boost your score do not close account.

Those old account shows your payment history from begning in report. The longer green history in your report the better score. 

Do use all credit card frequently that doesn't mean max out. Use two card this month and keep at home next month,yse another 2 next month and on and on.

Do not charge over 75% of your limit at any time.Maxout will drop your score.

It does not matter how much you charge monthly on card, It matter when you pay the card.

You can pay all amount on due date.

***Do not pay late even one hour after your due date.*****

To avoid that set up online account and you can pay anytime.

if you do not have money to pay then pay minium amount on due date then pay rest later.

if you have cell/home phone,electric etc remember those also to pay by due date.to avoid late payment put all of those bills on one credit card so they automatically charged on due date.you don't have to worry about those 3 bill and late payment. you can always get your paper bill to review anyway.

If you subscribe any thing on trial period which said bill me later make sure you pay them or cancle that.Even 1 dollar remain and they did not get paid,they may send to credit report.

**Try to avoid collection account.***

spirit

 

dont pay interest for credit card. pay  dues in time if u can pay in full.

spend as much as you can but dont cross the limit.

dont apply for  a lot of credit cards. wait until you are offered for one.

dont accept first or second offer. they will offer you a better card each time if u continue ignoring their offer.

 

to see a free copy of your report use any one of the credit reporting agency website but dont forget to  terminate before the trial peroid ends.