How many cc is OK?

[slarano]

in a related question, would having too many accounts open deter lenders from offering you more cards and/or other credit, or cards with larger limits? even if the accounts you already have are $0 balance?

[Jazzzy]

---

@simonlarano wrote:
in a related question, would having too many accounts open deter lenders from offering you more cards and/or other credit, or cards with larger limits? even if the accounts you already have are $0 balance?

---

There have been discussions on the credit card board that address this. Some posters with excellent credit and high-CL zero balance cards have been denied and told that they already have sufficient unused credit.

The credit climate has changed. I believe people have to be very selective where and when they apply. Don't fill your wallet with small-limit needless cards only to be turned down by a card you really want because you already have too much open credit.

Credit card companies are very cautious right now. If you have their card, they actually want you to use their card. That's why we're seeing credit line decreases or cancellations on unused credit lines.

[slarano]

Thanks for the response!

Right now I have accounts open to help my overall utilization, but once I can pay down my main cards to $0 balance, these low limit and subprime cards I'll surely cancel, so that I can let my CR rest for a year or two and thereafter I can apply for some Prime cards.

[Anonymous]

---

@simonlarano wrote:
in a related question, would having too many accounts open deter lenders from offering you more cards and/or other credit, or cards with larger limits? even if the accounts you already have are $0 balance?

---

This is more likely to me a matter of your income to total available revolving credit and income to total outstanding debt that it is any particular number of open accounts. There is no practical limit on the number of open accounts.

[Anonymous]

---

@simonlarano wrote:

Thanks for the response!

Right now I have accounts open to help my overall utilization, but once I can pay down my main cards to $0 balance, these low limit and subprime cards I'll surely cancel, so that I can let my CR rest for a year or two and thereafter I can apply for some Prime cards.

---

Approach closing accounts very carefully. Closing accounts will never help and may hurt your FICO scores. Do not close accounts that do not have AF's without good reason and a full understanding of what you are doing. Closing even a $300 limit revolving TL may have a negative effect on your credit UTIL calculation.