1. When there are many credit cards, it is often difficult to manage them. Many people may forget some credit cards that are not commonly used, which will easily lead to the accidental loss of credit cards, and once lost, there may be the danger of identity information disclosure, which has great security risks.
2. once you have a large number of credit cards, you will be considered in the future, and you may not easily apply for a card, so it will hinder you from applying for a card in the future.
3. You have too many credit cards, and when you use them, you may turn your head and forget which credit card you have used. This will easily lead you to forget the credit card bill, so that you forget to repay the credit card, which will lead to overdue and your credit will be affected.
will more credit cards affect credit reporting?
There are multiple credit cards in an individual's name, but repayment on time in each installment will not affect the individual's credit information.
Only when the credit card is overdue, the overdue record will be shown in the personal credit report, and the probability of multiple credit cards being overdue will greatly increase, which will seriously affect personal credit reporting.
In addition, too many credit cards will increase personal liabilities, which is unfavorable for applying for other bank loans.
how to manage too many credit cards?
1. manage the repayment time of credit cards.
When there are too many credit cards, the most difficult thing to manage is repayment. People often forget to repay some credit cards because of too many credit cards, which leads to overdue.
if you have multiple credit cards, most of them can adjust the repayment date. It will be more convenient to adjust the repayment time of all credit cards to a suitable time period.
under normal circumstances, it is not easy to repay another credit card just after paying off this credit card.
2. Set repayment reminder.
in addition to adjusting the repayment time of each credit card, you can also set a repayment reminder just in case, to avoid forgetting yourself, and it is best to set it one to two days before the repayment date.
3. cancel the excess credit card.
Many people get their cards for participating in activities, but they leave them behind after the activities. In this case, it is best to cancel some unnecessary and infrequently used cards and reduce the annual fee.