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Valued Contributor
Posts: 1,072
Registered: ‎04-24-2008
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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.........

 

 

Established Contributor
Posts: 793
Registered: ‎08-02-2008
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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: 752 (4/15); TU: 754 (3/15); EQ 732 (3/15)

In My Wallet: Amazon X 1 | Amex X 5 | Barclays X 2 | BOA X 1 | CapOne X 3 | Chase X 5 | Citi X 6 | DCU X 1 | DinersClub X 1 | Discover X 1 | Fidelity X 1 | Fifth Third X 2 | Macys X 1 | PenFed X 2 | PSECU X 1 | Sams Club MC X 1 | Target RedCard X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1

Holding off apps until the end of the year! Wish me luck!
Established Contributor
Posts: 631
Registered: ‎07-29-2010
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Re: How many CCs is too many?

[ Edited ]

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 $25K | FNBO Visa $22K | Citi Forward $14.5K | US Bank Cash+ Visa Sig $15K | Priceline/Barclays $10K | Chase Freedom $10.5K | Amazon/Chase Visa Sig $8.3k | Citi Double Cash $6.5K | BoA Cash Rewards 1-2-3 Sig $7.5K | Sallie Mae World MC/Barclays $5K | Capital One Cash Rewards $5K | Commerce Bank $5K | WF Cash Back Visa $3.6K | Amazon/GEMB $2.5K | Younkers/Comenity $2.4K | AMEX BCE $2K Target $1K | AMEX Green
EX FICO (from AMEX): 754, TU08 FICO (from Discover): 755, AAoA: 3.6 years
Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
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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. 

Moderator
Posts: 16,447
Registered: ‎07-14-2009
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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.  :smileyhappy:

 

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".

 

 

Valued Contributor
Posts: 1,072
Registered: ‎04-24-2008
0

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"

 

Established Contributor
Posts: 526
Registered: ‎04-21-2010
0

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.

Regular Contributor
Posts: 165
Registered: ‎08-13-2009
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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.

Contributor
Posts: 132
Registered: ‎12-07-2010
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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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Established Contributor
Posts: 855
Registered: ‎06-29-2010
0

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.

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