Thursday, September 16, 2010

How many credit cards can you have before they drop your credit score?

I heard having too many credit cards can lower your FICO score even if you pay them full each month. How many can you get before they drop your score?



I had problem getting a credit card when I had no credit history and then after I finally got one, I had difficult time getting another one, because banks said I had ';too few'; revolving accounts. Now I have 5 credit cards and only 1 of them carry balance. My balance to credit ratio is 6% and my FICO score is 740.