Personally, all my credit cards were never a problem with Mortgages. CLs were indeed a problem. Too much credit vs income at the time they said.
I have actually herd through my friend and another time from a family member that the lender said too many credit cards. This lender wanted the credit cards canceled because it could be another possible bill to worry about and would not except reducing the CL. Maybe that was only for people who had latenesses because they thought it was too many bills for them to keep track of? I never saw their credit reports.
Another quote I remember reading on the web.
Link to source."Don't carry a wallet loaded with cards. The people with great scores don't use credit as much, and they treat it differently than the rest of us. So if your dream is to get that score up so that you can get every store credit card in town, you may have just solved the mystery of why you're score isn't in the correct stratosphere.
"People with sky-high credit scores apply for credit much less often than average, which is about twice a year," Watts says.
A stack of credit cards "may impress your neighbor, but it won't impress your lender," says Gail Cunningham, the vice president of business relations for Consumer Credit Counseling Services of Greater Dallas."
Maybe they group you differently by how many cards you carry? FICO is not the only score they go by.
However, FICO is the only score I am working on right now. I want to be as high as I can go.
