Visa credit cards
Hi, I love your show and never miss an episode! It's a great way to learn something new while I'm working out.
I have a question. I'm a 25-year old medical student in my final year of school. I have $100k in school debt, and I have five credit cards with a TransUnion credit score of 771. I've always heard that I shouldn't sign up for too many credit cards because it will ding my credit. Despite those vague warnings, I probably sign up for two per year and cancel them as I go. The terms are just too tempting. I get something like $700 per year in introductory bonuses, 2 to 5 percent cashback on all daily purchases, and other great perks.
One of the best perks has been to put daily purchases on credit cards with very long zero percent APR introductory rates, saving me a significant amount of loan interest accrual. I think my credit has not suffered too much, but at the same time I realize that the biggest factor dragging my score down is a short history.
I will graduate from school in six months and would like to buy a house/condo perhaps in 18 - 24 months. I have never paid a dime of interest in my life, nor have I ever had a late fee. Is there a major downside to taking advantage of these credit card offers?
Additionally, is there a period before buying a home that I should stop obtaining new cards in order to optimize my credit?