I have struggled with credit for most of my life before finally turning things around and I have never owned more than one secured credit card at a time. My reasoning was that when my credit does finally turn around, I didn’t want to be stuck with a bunch fo secured credit cards.
Nowadays, most secured cards convert to unsecured within a 12–18 months and they probably did back then too but I just didn’t want to deal with the hassle of trying to keep up with them and what I owed or how many months I had left before it did or did not convert.
It’s not the number of credit cards you own as much as how you use the ones you currently have. Today I own about 22 unsecured cards which include 8 major credit cards and my scores average about 700 over the three major credit bureaus. Not great, but just good enough to get what I want and need.
In contrast, I have friends who own 4–5 cards whose credit scores consistently stay above 700 year-round. Admittedly, neither of them has the Maverick mentality that I do and they are 10X more conservative than I am, so personality plays a huge roll in it too.
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