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Topic Too many cards = bad on credit report? Go to previous topic Go to next topic Go to higher level

By ann317 On 12/05/01  

My friend was telling me that having too many active credit cards on my credit report is not good. I have 16 credit cards (from signing up for them at college fairs, etc) and i only use 2 of them. There's no balances on any of the cards.

Should I go through the hassle of canceling them all? or just let them expire and not activate them when they come in the mail?



By colin On 12/05/01  

You should cancel at least 10 of them. Make sure you keep the best ones (i.e lowest APR and highest credit limits)

Having that many credit cards is just not healthy!



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