Usually applying for too many credit cards will cause some disadvantages. Let’s briefly introduce them below:

1. If you apply for multiple credit cards at the same time, it will be very difficult. It may affect your credit report

Because credit card approval generally has a very important reference basis, which is the credit report. That is, when we apply for a credit card, the bank will check our credit report.

2. The second disadvantage is that if you have multiple credit cards, it will affect your mortgage loan application.

Generally speaking, if there are too many credit cards and the total credit limit is too high, it will be very difficult to apply for a credit card. In addition, applying for a mortgage may also be affected to a certain extent.

3. The third difference is that cards are difficult to manage. You may accidentally forget to repay, which will cause overdue payment

If there are too many cards, each payment will be overdue. If all cards are open, it will be more difficult to manage. Under normal circumstances, credit cards usually charge a certain annual fee. The card needs to be swiped a certain number of times or in an amount to be exempted from the annual fee. As long as one card is not swiped the required number of times or in the amount, you will have to bear the loss of the annual fee.

4. The fourth disadvantage is the existing risk of using credit cards

Currently banks have their own anti-fraud departments and risk identification systems, which can be identified through big data + manual inspection. Take out risky trades.

5. The fifth disadvantage is that the chance of credit card fraud is increased

Not only is it difficult to manage multiple credit cards, but the chance of credit card fraud is also greatly increased.