What Do Creditors Think When They See an Applicant with 25+ Credit Cards?

[10022016]

In addition to that, they see that they're isn't much activity on them as well?

[mitchblue]

Probably YMMV. But some have way more than 25 cards so it could depend on what the whole file says.. If you're clean, and not too many recent for example, I see no difficulties.

[SouthJamaica]

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@10022016 wrote:

In addition to that, they see that they're isn't much activity on them as well?

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It depends on the lender.

My impression is that big banks could care less about that so long as the the stats and scores and income are good.

But from personal experience I can tell you that credit unions don't like it. The biggest reason I get turned down by credit unions is that I have too many accounts. I was recently turned down by a credit union for that reason when the FICO score they pulled was an 827.

[Anonymous]

Hey SouthJ!  Are you certain that their issue was too many accounts.... and not too many recent accounts?  The latter is definitely an issue for some institutions.  I think you have told me that you pretty much always have many inquiries and also a number of new accounts.

[Anonymous]

I'm going with the too many recent accounts. 

[SouthJamaica]

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@Anonymous wrote:

Hey SouthJ!  Are you certain that their issue was too many accounts.... and not too many recent accounts?  The latter is definitely an issue for some institutions.  I think you have told me that you pretty much always have many inquiries and also a number of new accounts.

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I'm not 100% certain but I don't think they made reference to the newness of the accounts.

[Anonymous]

That is a ton of cards SouthJ.  It got me wondering... how many of those actually make it into your wallet?  Do you pick a MC, Visa and AMEX you like and only carry the three or do you have a massive wallet that lets you carry 26 cards around?