Too many credit cards bad for your score?

[InRareForm]

Is there such thing as having too many credit cards? If they are properly managed it shouldn't affect your score right?

[CuckingFunt]

Is there such thing as having too many credit cards? If they are properly managed it shouldn't affect your score right?

I believe it does, actually, but I'm not completely sure. Someone with a shit-ton of credit cards, or even a few credit cards that have really high limits, is a much higher risk of becoming suddenly over-extended than someone with only a couple of cards and/or small lines of credit.

[CosmicCowboy]

Yeah, depending on your income too many credit cards can definitely hurt your score. You are better with one good card like the Chase Freedom with a reasonable limit (mines $5000.) and then just pay it off as necessary. There are months I will pay mine down 2-3 times during the month so the balance doesn't get beyond the ratios they look for. You don't want a random check where even if you pay your card monthly you are carrying $4900 on a $5000 card.

[Drachen]

not really, though OTHER things that are associated with too many cards that could affect your score (such as average age of accounts). If you are constantly opening new accounts it lowers your average age and affects credit score.

[Das Texan]

My score is above 750.


I have something like 10 cards with a total amount of credit somewhere over 50k.


Average age is something like 6 years.

[DMC]

I have one card (other than corporate). I pay cash for everything else. Having too many accounts will raise eyebrows if you go for a loan. The term "too many" is relative to your income and credit history tbh.

[CubanMustGo]

History and usage count for more than number. I too have around ten with a combined limit around $100K and a credit score in the 780-790 range, and I've never had any issue with getting new loans (any balances are paid off each month). The last mortgage was a breeze even in the current environment.

[Bigzax]

well my score is 791...and a half.