How Many Credit Cards Is Too Much?
November 25th, 2007 by Alan YuA conversation came up recently in regards to the amount of credit cards that one has and what is considered as too much. The person I was talking to actually worked in a credit approval department and the most he has seen is a person with about fifteen different credit cards. He then commented how he couldn’t understand how someone could manage that many cards let alone the fact that having so many cards will decrease your likelihood in being able to apply for credit for other things.
I personally think three should be the limit with two being ideal incase a certain place only accepts a specific type of credit card. I can only imagine how bulk one’s wallet must be if someone tried to fit fifteen credit cards in it.
November 26th, 2007 at 5:39 am
Just because you have 15 cards it does not mean you carry all of them all of the time.
I have 8 cards….from trying out various promos and from being silly while in college and applying for every card that I saw.
I only carry one card in my wallet now and that is is the only card that I use for all purchases.
Some of the other cards are 0% cards that I got for balance transfers and they just sit in a box at home and have never been used for purchases.
It is easy for me to manage them because they all get paid automatically from my Electric Orange Account.
November 26th, 2007 at 8:12 pm
I think having 15 cards is too much. At least 3 credit cards are enough already. You wouldn’t want to have piles of debt paying for all those credit cards, would you?
November 27th, 2007 at 1:34 pm
15 credit cards?? That’s when it becomes a hobby and not for financial reason. Simplify life…1 card is enough
December 20th, 2007 at 12:53 am
I think three or four credit cards are quite enough. I don’t see any point in accruing a hard-manageable debt with 15 cards. The best is to choose 3/4 cards that will fit all your needs and that’s all.