If You Have More Than 3 Credit Cards, Make These 3 Moves

A woman throws credit cards in the air while lying down in the grass.
Tina Russell/The Penny Hoarder
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

We know how easy it is to rack up credit card debt. Over 41% of Americanhouseholds carry a credit card balance, and the average balance for those households is $9,333, according to a study from financial data website ValuePenguin.

But here’s the thing about credit cards: once you have a few of them, it’s time to change up your strategy.

If you’ve got more than three credit cards, here are some money moves you should make right away:

1. Let This Company Pay Off Your Credit Cards

A lot of us are being crushed by credit card interest rates north of 20%. If you’re in that boat, consolidation and refinancing might be worth a look.

That’s where a company like Fiona can be helpful. It can help you find personalized lending options to refinance or consolidate your debt to potentially save thousands of dollars in interest.

Fiona will show you all the lenders willing to help you pay off your credit card and eliminate the headache of paying bills by allowing you to make one payment each month.

If your credit score is at least 620, you can borrow up to $100,000 (no collateral needed) and compare interest rates, which start at 3.84%. The idea is to secure a loan at a lower interest rate, potentially helping you save thousands. Repayment plans range from 24 to 84 months.

2. Upgrade Your Credit Card Rebate

There are so many credit cards to choose from! So many.

Here’s the one we like: It’s the Chase Freedom Unlimited card*. Its claim to fame? You’ll earn an unlimited 1.5% cash back on all your purchases. Plus, if you spend $500 in your first three months of opening the card (hi, groceries), you’ll pocket a $150 bonus.

There’s no annual fee, and the cash-back rewards don’t expire.

As a Penny Hoarder, you just have to be sure you don’t get too carried away with those purchases — and that the card is paid off at the end of each billing period.

Get signed up — and 0% intro APR for 15 months — here.

3. Improve Your Credit Score by 277 Points

Your credit score is important. The better your score, the better deal you’ll get on a mortgage, car loan or credit card. We’re talking big money here.

Even if you’re not buying a house anytime soon, a lousy credit score means you’ll get hit with a high security deposit whenever you rent a car or move into a new apartment.

To keep a closer eye on your credit, get your credit score and a “credit report card” for free from Credit Sesame. It breaks down exactly what’s on your credit report in layman’s terms, how it affects your score and how to address it.

James Cooper, a motivational speaker, raised his credit score 277 points using Credit Sesame. Now he talks to high school students about the importance of having good credit and uses what he’s learned through Credit Sesame as a blueprint for his lessons.