How Many Credit Cards Is Too Many?

Does having too many credit cards affect your credit score?


Do you fall into the national average? According to recent data, the average U.S. consumer actively uses three credit cards.


However, three is not the magic number. In fact, there is no magic number when it comes to how many credit cards you should have. The number of credit cards that you have is not, by itself, an indicator of your credit score.

Having too much credit vs. utilizing too much credit:

Your credit score isn't affected by how many credit cards you have, but by how you use those credit cards.

If you have high balances on all of your credit cards, you are utilizing too much credit and this can hurt your credit score. If your debt-to-credit ratio is too high, your credit score could fall.

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