Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

Too Many Credit Cards Can Ruin Your Credit History

[Saturday, February 26th, 2011]

Take a look at plastics in your wallet. How many do you have? One, three or maybe ten? Sometimes our furious efforts to find the deals with better options result in a growing number of plastics in our wallets. According to statistics, the majority of American borrowers have between six and ten credit cards. There are also consumers, who carry a tremendous amount of plastics, i.e. 40 and even more. The question is: What is the manageable amount of credit cards? And what impact do they have on your lending history?

In fact, there is no universal amount of plastics. Many factors influence our credit card deals. Even specialists cannot give a definite answer to this question. Still, there is a huge risk of carrying too many, as it becomes almost impossible to keep them under control.
Other Recent Articles
Beware of Interest Hike on Balance Transfers! 0% APR Deals: When Time Is Your Companion! Low-Rate Deals – Look Out for High Costs! 0 APR credit card offer Credit Deals with Perks – Where Do They Come from? Online Approval Credit Deals Take Advantage of Credit Deals with Perks! Best Credit Deals Fair Card How Do You Make a Credit Deal with Bad Score Rating?

Department store cards turn out to be extremely alluring during holiday seasons. Consumers open lots of them in order to get a 10% or 20% discount on their purchases. It makes sense only if you are a frequent client of some particular shop. But don’t lose common sense, you don’t need so many store plastics with eye-popping interest rates and fees that eat up your discounts and rewards.

On a conservative estimate, the average American has seven credit cards of various types. “I love my plastics! It’s very convenient for me!” says Betty Stein, 31. “It helps me to monitor my spending and I really enjoy rewards credit cards with fabulous options! Isn’t it cool?”

There are also high-income holders, who have more than forty plastics at a time. Some of them share the opinion that the more cards you have, the better. They can really afford it and banks appreciate such clients most of all.

The major problem of having a great number of plastics is a mere inconvenience. Even if you have just a few, it may be problematic to cope with all the bills and payments. Some holders, especially not experienced ones, feel confused to choose the right card in certain situations.

For example, they use their balance transfer plastics for purchases. As a result, they face pretty high interest rates, not to mention a risk of getting up to the ears in debts. All this can damage their lending history and it takes time to repair it.

As a rule, it takes time and efforts to build good credit history and enjoy the best credit card deals. Having a lot of plastics implies a huge risk of late fees. Let’s say, you have fifteen. To keep all the due dates will be next to impossible. It will be really hard to manage your multiple accounts.

Like it or not, it’s very essential to keep our debt ratio low. If your spending limit is $3,000, your balance should be no more than $1,000. If it’s not the best option for you, you can split up this sum into two cards. Moreover, credit card companies are not so fond of customers, who use too much credit. Sometimes they can even penalize you for that, and it will be marked in your lending report.

It is recommended to have as many plastics as you can handle. Depending on your needs, this amount can vary between two and six. You should also bear in mind some rules of thumb, like making regular payments and monitoring your credit monthly statements.

Read also

Answer These 4 Questions To Find Out If A Prepaid Card Is Right For You
[October 17th, 2018]

If you pay any attention to the finance industry, or even if you don’t, you’re probably aware that prepaid cards have become increasingly popular over the past several years. But you may still not quite know what a prepaid card is, or how one works.

Continue reading ››

4 Things You Didn’t Know About Your Credit Score
[July 26th, 2018]

Maybe you think you know all there is to know about your credit score. You make your credit card payments on time, keep your balance low, don’t take out more lines of credit than you need, and monitor your credit report on a regular basis.

Continue reading ››

5 Ways To Maximize Your Credit Card Rewards
[April 28th, 2018]

Most people have at least one rewards credit card in their wallet. But many people don’t know how to use those credit cards to their best advantage by getting the most points possible and redeeming them for rewards they’ll actually use.

Continue reading ››
Copyright © 2003-2018 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners. is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.