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Established Member
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Registered: ‎05-12-2012
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How many Credit Cards is too many?

So, in a few short months, my husband and I are looking to hopefully by a house of our own, and I want to do whatever I can to make my credit the best it can be. That being said, I have 11 credit cards, 4 major and the rest are store cards (kohls, home depot, lowes, childrens place, victorias secret, etc..). Is it bad to have too many CC's? All of my cards are in good standing... No late payments, most have a $0 balance, should I close some of them? I will say I do use them all though, mainly for the discounts I get while using them, but than I pay them off right away. Is this good or should I close out some of my accounts? Thanks for any feedback!! Smiley Happy


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Posts: 2,281
Registered: ‎09-16-2011
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Re: How many Credit Cards is too many?


MandaNic2005 wrote:

So, in a few short months, my husband and I are looking to hopefully by a house of our own, and I want to do whatever I can to make my credit the best it can be. That being said, I have 11 credit cards, 4 major and the rest are store cards (kohls, home depot, lowes, childrens place, victorias secret, etc..). Is it bad to have too many CC's? All of my cards are in good standing... No late payments, most have a $0 balance, should I close some of them? I will say I do use them all though, mainly for the discounts I get while using them, but than I pay them off right away. Is this good or should I close out some of my accounts? Thanks for any feedback!! Smiley Happy


Keep them open, with no usage, if the Loan officier has a problem with them he can ask you to close them. Why close them prematurely especially some of them will come in handy after you become home owners, lowes and homedepot for example. 

 

 

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Established Contributor
Posts: 731
Registered: ‎02-15-2012
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Re: How many Credit Cards is too many?

There really isn't such a thing as "too many" credit cards from a FICO perspective.  If you have a use for all of them and can manage them, I don't think there's any reason to close them as I don't see you getting a score bump from it.

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Registered: ‎04-15-2011
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Re: How many Credit Cards is too many?

Too many is when you can no longer keep up with them.  If they have no annual fees and you don't keep a balance and paying interest on them.  Just leave them be, use occassionally, pay them off and leave them in the garden.  Smiley Happy

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Re: How many Credit Cards is too many?

you should ask  Walter Cavanagh


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Regular Contributor
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Registered: ‎08-23-2012
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Re: How many Credit Cards is too many?

[ Edited ]

nicholasyud wrote:

you should ask  Walter Cavanagh


Walter Cavanagh owns 1,497 active credit cards valued at $1.7 million. Aside from holding  the world record for the most number of credit cards, he also owns the world’s longest wallet, measuring 250 ft in length and 38 pounds in weight, with a capacity to hold 800 cards.

 

WHOA!!!! a little too many lol

 

 

http://6starliving.com/the-man-who-owns-the-most-credit-cards/

 

 

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Re: How many Credit Cards is too many?


alboto wrote:

nicholasyud wrote:

you should ask  Walter Cavanagh


Walter Cavanagh owns 1,497 active credit cards valued at $1.7 million. Aside from holding  the world record for the most number of credit cards, he also owns the world’s longest wallet, measuring 250 ft in length and 38 pounds in weight, with a capacity to hold 800 cards.

 

WHOA!!!! a little too many lol

 

 


So that calcualtes to having 697 cards in his sock drawer,

 

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Valued Contributor
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Registered: ‎09-15-2012
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Re: How many Credit Cards is too many?

This dude knows how to recon properly.

"When his application was declined, he would send a letter to the issuer explaining his purpose for seeking credit card approval, which is to maintain his world title"

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Re: How many Credit Cards is too many?

Lmao @ world title.



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Registered: ‎08-13-2012
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Re: How many Credit Cards is too many?

If all his cards charge $99 AF like Credit One . He would end up paying $ 148203. Smiley Very Happy 1497 * $99 = 148203.


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