How many Credit Cards

Luke_Skywalker_1980

Daft question, but is there a limit to how many credit cards you can have at one time? I currently have 3, all of which I pay off by DD in full every month: AMEX Nectar (for Petrol @ Sainsburys), Tesco Clubcard (for Tesco shopping & online), ASDA Reward CC (for ASDA shopping).

I have just sold my house and need some quick cash for fees etc and have been looking into getting a 0% Purchase card and moving all spending to that, paying only min repayments and therefore saving wages in the short term to pay fees etc. I can then pay off the card over a few months or 0% balance transfer it if I don't get it paid off by the end of the fee free period.

Sound reasonable?

chattychappy

My Experian report shows 19 accounts, most of which have been settled (generally closed by me). But I still have 8 credit cards that are still valid for use. 4 have balances and 4 are zero.

I don't think the number of accounts open really matters - more the overall amount of credit you have available, and the proportion of that that is used. I'm using around 28% of my available credit. I generally make one application every six months and have yet to encounter a problem.

Simon_Preston

I currently have 4. And I phoned Flybe on Monday to apply for one and they said I have been provisionally accepted... so I guess thats soon to be 5.
Be cancelling most of them once I've shuffled my debts into none existance.

NickX

I have 13 so I wouldn't worry too much yet.

td_007

I have 6, but the last two ones have only 1K & 2K limits. I use 2 cards routinely and are paid off every month.