Is having a lot of credit cards, but only using them sparingly, bad for your credit?

February 9th, 2010 | by admin |
Doug G asked:


I’ve opened a few credit cards lately, but don’t plan on using them, only for emergencies. Will just having 4 or 5 credit cars available for my use somehow hurt my credit score, or credit in general for future loans I might want?

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    1. No Responses to “Is having a lot of credit cards, but only using them sparingly, bad for your credit?”

    2. By earth angel on Feb 13, 2010 | Reply

      Not that bad - but it will affect your score whether you are on time on paying. It could make your score low. So get a scissors and cut your cards in pieces - but - leave one or two that is your favorite to use. Lenders don’t like that people have so many open accouts, that is why they offer loan consolidation. meaning you put all your loans into one account only and you will be rewarded.

    3. By Jon on Feb 13, 2010 | Reply

      It can be bad, If you are looking to buy a house, The lender could see all those cards as liability. At any time you could potently go out an max those cards out. Really what is the point of having that many cards. Two cards is plenty, pay themoff at the end of the month.

    4. By Scott F on Feb 15, 2010 | Reply

      For future credit having several credit now using 50 of 25 this is factor in ways the contrary if you can successfully manage several different types of 25 of your ratio the contrary if you are desperate for example if you only have improved.

    5. By mortgage professional on Feb 18, 2010 | Reply

      The credit cards keep the credit cards most lenders look for open active trades for open active trades for example car and two other credit cards keep the ratio balance 30 he suggests on it but most importantly pay on it but most lenders look for example car and two other credit cards keep the ratio balance.
      The credit cards keep the ratio balance 30 he suggests on time.

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