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Having to many credit card accounts

Member

Having to many credit card accounts

Hi i got a question is having 50 credit cards in 10 years credit history to many cards to have for example ive had 25 authorized user accounts and 25 personal accounts all paid no negatives and all closed accounts only the oldest 4 personal accounts open,i tried to apply for a new card got denied saying ive had to many accounts in my current history anyone have any information is there a max limit to have or is it a good option to have as many accounts. thanks

Message 1 of 5
4 REPLIES
Valued Contributor

Re: Having to many credit card accounts

i fell out of my chair and passed outSmiley Surprised i dont know what to say to that

Message 2 of 5
Epic Contributor

Re: Having to many credit card accounts

I don't think you can have to many, it just depends on the lender you are applying with though and how they feel...

I would say though if you have 25 accounts soly in your name, I would look at all the auth accounts and see rather 1. you actually use the account and 2. if it is making up your oldest accounts, otherwise I would probably start to fire them and they will delete off your report if you dispute it.

Message 3 of 5
Established Contributor

Re: Having to many credit card accounts

I have 33. Half open half closed.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 4 of 5
Moderator Emerita

Re: Having to many credit card accounts


mandaiaybay wrote:

Hi i got a question is having 50 credit cards in 10 years credit history to many cards to have for example ive had 25 authorized user accounts and 25 personal accounts all paid no negatives and all closed accounts only the oldest 4 personal accounts open,i tried to apply for a new card got denied saying ive had to many accounts in my current history anyone have any information is there a max limit to have or is it a good option to have as many accounts. thanks


So you only have four open CC accounts now? Everything else, personal or AU, is now closed?

 

If so, you should recon the denial on your new card, asking for a human to review your credit report. My guess is that your application got killed by a computer program.

 

Be prepared to offer a reasonable explanation as to why you've had so many accounts in a relatively short period of time.

 

In general, there's no such thing as "too many CC accounts", unless you are exasperated in keeping track of everything, and/or you are finding yourself tempted to overspend (=overcharge.)

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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