Some people are worried about how to successfully apply for a credit card, while some people are worried about having too many credit cards under their names. We also know that overdue credit cards will affect credit reporting, but will too many credit cards affect credit reporting qualifications?

Will too many credit cards affect credit reporting qualifications?

Generally speaking, credit cards As long as it is used normally and no overdue behavior occurs, even if you have multiple credit card accounts under your name, it will not affect your personal credit report. However, it should be noted that if you frequently apply for credit cards, your credit report may be in trouble. When we apply for a credit card When applying for a loan, the bank will inquire about the applicant's personal credit report, and this inquiry record will be reflected in the personal credit report. Too many personal credit inquiry records will cause trouble in the credit report, which will have a certain impact on later loan applications. Influence. Because there are too many personal credit inquiry records, the bank will suspect that the borrower has recently experienced excessive debt pressure or financial problems, and may therefore reject the borrower's loan application.

What should I do if my credit card is overdue and cannot be used?

After the credit card is opened, the annual fee must be settled once a year. Although some credit cards can be swiped a certain number of times during the annual fee cycle. The annual fee is waived, but the premise is that the credit card can be used normally. If the credit card is not used, it is in vain. You can only watch the bank deduct the annual fee and do nothing, and you have to repay it to avoid being overdue again. So some cardholders want to cancel their credit cards immediately so that the bank will no longer deduct money and they don't have to worry about overdue repayments. But once this is done, many people will regret it, and the consequences are not as serious as usual. You should know that it will take 5 years for your credit score to be restored if your credit card is overdue. Although you cannot use the card, you can repay it on time after deducting the annual fee, and new records will be generated, and the bad records will be overwritten slowly. And if you cancel the card before the overdue records are eliminated, the overdue records will be frozen, no new records will be generated to cover the bad records, and the credit business will be easily rejected. Therefore, for credit cards that cannot be used after the expiration date, the correct way to deal with them is to cancel them ten thousand times, let the annual fee be deducted, and just pay back on time.

The above is the relevant content on whether having too many credit cards will affect your credit qualification. I hope it will be helpful to everyone.