How many cards is too many?

lisyloo

Does overdraft count as a credit card

Any account with credit can show up on your credit report as a credit account.
This includes mobile phone contracts, catalogue accounts and even in some cases utility accounts.
But not all lenders report to all credit reference agencies.
To get a full picure you would need to get your credit reports from Equifax and Experian.

I agree with Moggles.
You credit level is modest. I would only worry about it if your income if low.
Remember that you might not be able to get the credit back in this credit crunch so don't get rid of limits that you might later need.
We can't comment without knowing your income, but I wouldn't see this level as worrying.
If you had £50K or £60K then yes, it might be worrying, but your levels are not particularly high.

pb3

milan_ns wrote: »

I have 4 credit cards with no balance on them:
- Barclaycard - £6k limit - use daily for cashback and protection
- MBNA - £6k limit - backup card; use when I travel abroad as Barclaycard tends to get declined often - due their stupid fraud detection system
- M&S - £2k limit - I applied to get 12 wine bottles they were offering at the time
- Debenhams - £1k limit - I applied to get 30% of my first purchase and a free coffee

I just did a quick tally and i now have 20 cards, including 3 store cards..

These have been accumulated over the last 20 years.

You needn't worry .

I tend to rotate the credit cards, but keeping track of pins and passwords is becoming a pain.

I would have thought that quite a few people on the board have at least 4 cards.

Anastasia

I have 4 cards. Just about to cancel 2 recently paid off. Keeping one for emergencies with £0 balance and still paying off one with low lifetime balance rate.

ste_coxy

i have been fortunate enough 2 have paid of my 4 credit cards and 1 store card - i am closing the latter and 3 of the credit cards and keeping 1 for emergencies only