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How many credit cards

Established Member

How many credit cards

just curious to know, how many credit cards does everyone have and how many is too many? thanks just curious. oh also, is there such a thing as losing points for having to many credit cards?
25 REPLIES
Valued Contributor

Re: How many credit cards

I would say somewhere between four and ten is optimal. Any less than that, and you're not going to get the best effect on your score from having accounts paid on time. More than that...well, FICO won't necessarily punish you, but I might need medication if I had to keep track of sixteen pay-by dates each month.
- - - -
in a credit-scoring postnuclear Stone Age...
Established Contributor

Re: How many credit cards

5
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Senior Contributor

Re: How many credit cards

I have 12. It seems kinda excessive to me, but when I think about closing some of them, I realize it wouldn't accomplish anything.
Here we go again...
Moderator Emeritus

Re: How many credit cards

I have 5 bank and 3 store credit cards. 


Message Edited by psychic on 06-30-2008 10:03 AM
EQ 814 / TU 815 / EX 842
Moderator Emeritus

Re: How many credit cards

I have 7 bank cards and 2 store cards.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Valued Contributor

Re: How many credit cards

9................(3) Amex,  (2) MC, (2) Visa, 1 store card, 1 gas card.
 
I don' think there is a magic number when it comes to having too many card.  Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.  
New York Yankees - 2009 World Series Champions. 27... and counting.....
Moderator Emeritus

Re: How many credit cards

8 bank cards and 4 store cards.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Senior Contributor

Re: How many credit cards



cobra19 wrote:
9................(3) Amex,  (2) MC, (2) Visa, 1 store card, 1 gas card.
 
I don' think there is a magic number when it comes to having too many card.  Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.  





31? Holy crap. And I thought I had a lot.
Here we go again...
Moderator Emeritus

Re: How many credit cards



FretlessMayhem wrote:


cobra19 wrote:
9................(3) Amex,  (2) MC, (2) Visa, 1 store card, 1 gas card.
 
I don' think there is a magic number when it comes to having too many card.  Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.  





31? Holy crap. And I thought I had a lot.

I predict that will be me in about 3 years, at this rate.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )