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How many CCs is too many?

Valued Contributor

How many CCs is too many?

I currently have 8 CCs opened in my name.

 

1. How many CCs is too many?

2. Will having more than 10 CCs consider to be too many cards in the eyes of lenders?

 

I know UTIL % plays a huge role but at what point will the lenders say...hey, this guy/gal have way too many CCs and they are reluctant to extend more credit to that person. I've read that some ppl have 4 while others have 20. I am just curious to know if there are some backlashes to having "too many revolving accounts".

 

Please advise base on your experience.........

 

 

Message 1 of 17
16 REPLIES
Established Contributor

Re: How many CCs is too many?


tntexans72 wrote:

I currently have 8 CCs opened in my name.

 

1. How many CCs is too many?

2. Will having more than 10 CCs consider to be too many cards in the eyes of lenders?

 

I know UTIL % plays a huge role but at what point will the lenders say...hey, this guy/gal have way too many CCs and they are reluctant to extend more credit to that person. I've read that some ppl have 4 while others have 20. I am just curious to know if there are some backlashes to having "too many revolving accounts".

 

Please advise base on your experience.........

 

 


I have 11 and am curious to hear as well. I don't carry balances but know in 3 or so years I may be buying a new home... curious to know whether the # of accounts is an issue, if they all have zero balances and perfect payment history.

FICO: EX: 763 (12/16); TU: 786 (12/16); EQ 731 (12/16)
Amex Blue Cash Preferred | Amex SimplyCash Plus | Chase Amazon Prime VS | Chase Freedom VS | Discover IT | Penfed Power Cash Rewards VS | Sams Club MC | USAA Limitless Rewards PV
Message 2 of 17
Established Contributor

Re: How many CCs is too many?

I can't directly answer your question, but BoA just denied me a CLI because "too many open revolving accounts"

 

I have 14 revolving accounts

Discover IT $35K | FNBO Visa $30K | Cash+ Visa Sig $19.5K | Southwest Premier $16K | Priceline $15K | Citi Forward $14.3K | US Bank Plat $14K | Commerce Bank $13K | CSP $13K | CSR $10K | Sallie Mae World MC $10K | Lowe’s Consumer 10K | BoA Cash Rewards 1-2-3 Sig $7.5K | Fidelity Visa $7K | Citi Double Cash $6.5K | WF Cash Back Visa $5.4K | Capital One Cash Rewards $5K | AMEX BCE $3.9K | Freedom $2.5K | Younkers/Comenity $2.4K | Kohl’s 1.5K | Target $1.4K | EX FICO (from AMEX): 768, TU FICO (from Discover): 797, AAoA: 4.4 years
Message 3 of 17
Super Contributor

Re: How many CCs is too many?

I have 11 cards.  It's all about being able to manage them.  I always put myself in a position to be able to cancel a card. 

Message 4 of 17
Moderator Emeritus

Re: How many CCs is too many?


tntexans72 wrote:

I currently have 8 CCs opened in my name.

 

1. How many CCs is too many?

2. Will having more than 10 CCs consider to be too many cards in the eyes of lenders?

 

I know UTIL % plays a huge role but at what point will the lenders say...hey, this guy/gal have way too many CCs and they are reluctant to extend more credit to that person. I've read that some ppl have 4 while others have 20. I am just curious to know if there are some backlashes to having "too many revolving accounts".

 

Please advise base on your experience.........

 

 


I'm afraid this is one more YMMV.  Smiley Happy

 

I've also had 8 cards for many years but (so far) have never been penalized for having that number.  Now I have been dinged for having "too many revolving accounts with balances" at any one time so that is something to consider.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

 

 

Message 5 of 17
Valued Contributor

Re: How many CCs is too many?

Reason why I asked was.......

 

My AAoA is 6.9yrs

Oldest account 22.3yrs

UTIL is currently 25%

Clean report

Asked for a CLI from Chase and declined.

Reason???? "too many revolving accounts opened"

 

Message 6 of 17
Established Contributor

Re: How many CCs is too many?

I have over 20 revolving and I still get approved when I app for new cards, I havent apped in a bit since I have high util right now (almost 50%) but I think chase just didnt want to give one and thats the only excuse they could come up with.

Message 7 of 17
Regular Contributor

Re: How many CCs is too many?

Added a bunch more in the last three months closed a few.  Up to 33 now and there does not seem to be any real barrier at this point.  I have not been denied for any cards in a number of years.  I do keep utilization near or at zero all the time. 

 

The only bank I have found to be skittish is BoA which has closed my only card with them three times in the last two years.  Ultimately this has been to my benefit as I keep apping for the Royal Caribbean card and get the points bonus for a new app each time.  Interesting that they close the account but then when I app, they give it to me again.  Each time I get the bonus and then cash in the points.  Last time I apped I got the card, put one transaction for $4.91 on the card, used the 10,000 points for a $50 credit with Royal Caribbean and then they closed the card the next month.

Message 8 of 17
Contributor

Re: How many CCs is too many?

Question: "How many CCs is too many?"

 

Answer: "At least 2 more..."


Starting Score: EX FICO: Unknown EQ FICO: 717 TU (CreditKarma): 713
Current Score: EX FICO: 737 EQ FICO: 752 TU (CreditKarma): 717
Goal Score: EX FICO: 760 EQ FICO: 760 TU (CreditKarma): 760


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Message 9 of 17
Established Contributor

Re: How many CCs is too many?


DI wrote:

I have 11 cards.  It's all about being able to manage them.  I always put myself in a position to be able to cancel a card. 


+1

 

One can be too many if you can't manage the account. Too many revolving trade lines is a negative reason that I see on my TU with double digit revolving trade lines, but it doesn't seem to have too much of a negative effect since I have a 793 TU Fico score.

Message 10 of 17