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Originally Posted by Porsche-O-Phile
I agree with this in principle but it's actually not 100% true. If you're careful and pay attention to your card offers, you can effectively ensure that any balance you carry is 0.0% apr by taking advantage of balance transfer offers. If you're paying a dime in interest, it's too much.
But you have to be disciplined enough to keep on top of it and actually put time into researching/applying/transferring/tracking all this stuff. If you do, you can save a ton.
As with a lot of things, the price of doing nothing can get pretty steep. Lazy people pay interest.
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too many credit cards and and new credit cards will negatively effect your credit score. Even with no balance- they want to see just a few established cards that you use and pay on time.
If you are looking at buying a new house I wouldn't keep piling on new cards.