okay here we go, this is all IMO so anybody else who wants to tackle this do so as you see fit...
1. Right now you have 4 cards, I am estimating you have around 3 inquiries due to the kay jewelers card being two years old and as result that inquiry dropping off of your credit report. You have recently applied for two cards so that doesnt necessarily mean you shouldnt apply for more, but if you are planning to get an apartment or auto loan, you might want to wait. Also applying for a whole bunch of cards in a short period of time can be a warning flag to many credit card companies and they may deny you as such. What are you current limits on all 4 of your cards?
2.Its not good or bad, its all about how you use them and manage your spending. The more cards or "accounts" on your credit report the better but at the same time it can be hard to manage 4 plus cards when youre 20 and you dont want to fall behind even once. The more accounts you have can mean that your average age of accounts (AAoA) increases much faster since you have more than one account reporting but that will take time and initially new accounts will lower your AAoA and hurt your score. Its all about the balance and if you stand to get some sort of benefit from getting a new card beyond having just another account on your credit report. There is no limit to the amount of cards you can have but i have never heard of anyone having more than 30. Its good to have a variety among different credit card companies so that you have some major cards and some standard cards. Major being from banks like Bank of America, Chase, and Amex.
3.A persons credit limit is the amount of spending allocated to you per each card by its issuer. On each cards website it should say somewhere what your spending ability (credit limit) is. It is incredibly important because not only does it show how much each bank trusts you, but also plays a big factor in how your credit score it calculated by its utilization. Credit Utilization is the % of the credit you use per each card you have, so if you spend 100$ on a card with 1000$ credit limit, then you have 10% utilization. Its highly advised to keep your utilization between 10-30% at maximum. Mine is right about 5% right now and top credit scorers have around 7% utilization.
4. Poor lonely skipped 4...
5. There is a few options when it comes to getting free credit scores. Creditkarma.com is a great site but doesnt give you the real FICO scores that creditor will see when you apply for credit, it is however relatively accurate, but can vary as much as 10-70 points from your FICO scores (50 points lower for me). Next is CreditSesame.com it is just like credit karma but a bit less in depth and it claims to give you a real Experian score which i am not 100% is FICO or not so most of us here call it a FAKO score. You as a citizen of the US are allowed once a year to access your credit report for free from freecreditreport.com, it is a site set up by the three credit bureaus and it gives you all the detailed information that is on your credit report. I advise you go there if you have never used it before. Finally if you feel like paying to get a real FICO score you can get scorewatch from MyFICO.com for 14.99/mo, it is what I and many members here, use for our monitoring needs.
6. If a card isnt used for a long time the only real repercussion is that the issuer could close the account. If that happens it would still remain on your credit report for 10 years helping your AAoA but after 10 years it would be removed and could hurt your score especially if it was your oldest account. Its best to use each card you have once a month and have at least some use shown on your statement if possible. Otherwise just make sure you use them a few times a year and most likely the account wont be closed.
7. It is always best to pay in full each and every month. Though you can get away fine with just paying the minimum you will be paying absurd interest from day 1 after the due date and it really isnt worth it especially if you are trying to maximize rewards.
8. For you I would suggest either the Chase Freedom, Discover IT or if your scores are good enough a Amex Green. You really want to try and diversify your report with a few major credit cards, but not knowing your scores or current limits does pose a challenge and it would also be helpful to know where the majority of your spending goes.
9. Stay here and i can guarantee it will turn out alot better than if you go it alone. Best of luck and keep us updated and we will be sure to help whenever we can.
Damn that was long, hope it was helpful
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend
Its not about the ending, its about the journey,
just as long as the ending is just as good