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How Many Credit Cards Are Too Many?

- Jul 10, 2022 Credit Card Info2 comments

People are often hesitant to open new credit cards being that they are afraid they already have “too many cards”. How many credit cards are too many? In this post, we will answer this question. 

FYI, I personally have 48 accounts on my credit report with many more business cards that don’t show on a credit report. So keep in mind that my opinion on this subject might be different than yours…

Starting to build credit

Let’s go back a few steps to discuss someone who is still a newcomer to building credit.

For a person who is starting to build credit, I recommend not stopping until they get at least 2 approved credit cards.

6 Ways To Get Approved For Your First Credit Card And Start Building Credit

The best way to build your credit is by getting approved for credit cards. But, hey! How do you get approved for credit cards without having credit? That’s like saying...

Read Post

Once you get approved for two credit cards, you can calm down and give it about 6 to 12 months to let those cards build a solid base for your credit. 

Use all your credit cards at least once every two months. It may seem a bit overwhelming at first, but don’t worry. It will eventually become second nature. 

Going further with credit cards

After the year has passed, you can apply for a new credit card every 2-3 months. This 2-3 months break in between cards will keep your credit from being affected negatively by having too many new credit cards. 

So, back to our first question of how many credit cards are “too many”.  As long as you do it right, you can have even 48 credit cards and still have a perfect credit score.

Player 1 and Player 2 strategy

It’s not recommended for your credit to get more than one credit card every 2-3 months. A good way to help you be more aggressive with getting welcome bonuses is using a P1 and P2 strategy. For instance, if you and your spouse are both looking to accumulate points to use for the same trip, etc. then you can rotate between each other and each month a different one of you applies for a card. With this system, each one of you does not get more than 1 card every 2-3 months. 

Business cards

Because most business cards do not show on your personal credit report you can be more aggressive with business cards and apply more frequently for business cards than personal. But keep in mind that even with business cards, there will still be a credit inquiry on your credit report (just the actual new account will not show). Even with business cards, don’t be too aggressive as your score can be hit if you have too many credit inquiries. 

 

Reports business cards on your personal credit report?
Amex no
Bank Of America no
Barclays no
Capital One yes, except the Spark Cash Card
Citi no
Chase no
Discover yes
US Bank no
TD Bank yes
Wells Fargo no

Always check out our website for the best bonuses

You don’t need to spend your days and nights looking for new welcome bonuses. You can at any time check our website for a full list of available welcome bonuses. We do the hard work of searching the internet for the good bonuses and we are happy to provide the info to you on a silver platter. 

We do get paid for many of the  credit cards that we promote. But even if a credit card does not pay us we will still list the card on our website (that’s why you will find many more offers on our website than other websites as they only list the cards they get paid for, but we list everything ). 

With #hmbc YOU ALWAYS COME FIRST!

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Sam Sam has nearly a decade's worth of experience educating his many readers on everything credit. Sam spends his days checking out credit cards for a full report, from the minute benefit details to the shebang of welcome bonuses. Plus studying the ins and outs of building proper credit. It’s his favorite pastime and he loves sharing it with others.

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2 Comments

  1. great post!!!

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    • Thanks!

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