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Moty1959

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Does it affect your credit if u have too many credit cards

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"too many" is a variable. Too many for one person may not be too many for another. Having many cards will affect your debt to income and that can affect you getting approved for more credit. I guess the answer is, if you can afford your cards and have room to afford more credit lines, then you are ok, if not, then you have too many. Fico does not ding your score for excess cards if that is what you are asking. You will be dinged though for inquiries and reducing the average age of your accounts everytime you open a new card though, but often times opening a new card can reduce your overall utilization to a point where it can be beneficial, it is all a case by case deal.

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