Expert suggestion needed having more credit card

43°
Deal Lieutenant
248
5178
46

Is it bad to have 5 to 6 credit cards or more.
Is it impacting cibil even bills paid on time.

5 Comments  |  
6 Dimers
  • Sort By
325
1436
25

If you really need 5 or 6 cards, paying bills on time is not a hassle for you then of course…

81
5547
45

More cards will eventually slightly lower your credit score, mathematically, as your income is fixed but you are allowed to spend more in the same period with higher number of credit cards, which is a higher risk for ur creditors (card issuing bank)
However the decrease is not significant, so no need to worry. But it may lead to rejection of application for a new card, seeing the numbers you already have

Missing