Is 6 credit cards per person considered too many?

Depending on the purpose of consumption, it is enough for ordinary people to hold 2-3 cards, making it easy to manage bill repayments. If you have six cards, you can allocate the purpose of the cards. I think it is best to keep a Visa or MasterCard card for overseas use, a bank with low installment rates, and a card with gas discounts/cash withdrawal fees. For the rest, it depends on your needs. As long as you can manage it, six cards is not too much. Anyway, I don’t think more cards are better, but the limit is better to be as large as possible, which can be used for financial emergencies, such as earthquake disasters. The epidemic and other things can be temporarily overcome. Of course, you have to pay it back after you use it, so do what you can.

1. A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit. Credit cards stipulated in my country's relevant laws ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions that have all the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc. Or an electronic payment card with partial functions. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

2. Credit cards are generally special carrier plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front and there is a chip on the back. , magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks. Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only.

Will having 6 credit cards affect the mortgage loan?

Having 6 credit cards will affect the mortgage loan. After all, having 6 credit cards means the borrower has a heavier burden. At this time, the bank that applies for the mortgage loan will give full consideration to the loan. If a person's repayment ability is insufficient, the bank is very likely to reject the mortgage loan. Therefore, try not to have so many credit cards in normal times.

If the user has not been overdue in using 6 credit cards and the flow rate submitted to the bank is good, then the chance of the mortgage loan being approved will increase. If the credit card is overdue and has already been reported to the credit bureau, the possibility of approval will become smaller.

Don’t have more than 3 credit cards in daily life, mainly because more cards bring a burden to management. If you remember the wrong repayment date, it is very likely that the payment will be overdue. payment situation. Penalty interest will accrue after overdue repayment and overdue records will be uploaded to the credit reference center.

When applying for a home loan, it is best for users to go to the bank for consultation in advance, so that they can know the loan conditions and loan interest rates. Generally, lower loan interest rates allow users to pay less interest. However, only high-quality customers of the bank can get interest rate discounts. To become a high-quality customer generally requires the purchase of large-amount financial products.

The consequences of applying for 6 credit cards in one month: I just wish I didn’t know it earlier

Many novices apply for credit cards for the first time and like to catch up with them at the same time within a month. I applied for 6 credit cards, thinking that if this one wouldn't approve my application, there would be other banks that would approve it, so it's unlikely that all 6 banks would reject the card. In fact, applying for a card by casting a wide net like this can indeed increase the chance of getting the card, but it will have some negative effects.

1. The credit report affects the approval

The bank will check the applicant's credit report when approving the card, and will leave a query record of "credit card approval" on the credit report. If you apply for credit cards from 6 banks at the same time in one month, you will have 6 credit card approval query records, which can easily mess up your credit score.

If you apply for a credit card in this case, it will affect the judgment of individual banks, because ordinary people generally have very few credit reports, so they may refuse to apply for a card to avoid risks.

2. The credit limit will not be very high

Even if you are lucky enough to get a card, you will find that the general credit limit will not be very high, there are thousands, or even 10,000, but at most No more than 20,000 yuan.

The reason is very simple. The applied credit card limit and card opening status will be recorded in the loan information in the credit report. When a bank approves a credit card, as long as it finds other card information in your credit report, it will If you are unable to provide sufficient proof of financial ability, you will usually refer to the previous card limit to apply for the card and credit. Especially if the credit check is too expensive, you will not be given a too high limit.

3. Inconvenient management makes it easy to overdue

Even if all 6 credit cards you applied for are applied for, the statement dates, repayment dates, and annual fees of different banks are different.

If there is no proper management method, it is easy to get them mixed up, especially if you remember the wrong repayment date and fail to repay the credit card that should be paid. It is not fun to affect your credit report, and you have to wait for repayment. It will be eliminated after 5 years, which is not cost-effective.

Summary: Applying for 6 credit cards in one month is not a good thing. It is recommended that you apply one by one first. After all, credit cards are all about quality, not quantity. It is much better to cultivate 2~3 cards intensively than to cultivate 6 cards at the same time.

That’s it for the introduction of the 6 credit cards.