How many credit cards is reasonable for a person to have?

Depending on different groups and their ability to make money, if you have just entered society and have a low income, it is recommended to apply for a card. Generally speaking, it is recommended that cardholders should not have more than 5 credit cards. Because of this, our single card limit will be higher, annual fees and other fees will be lower, and the fewer single cards, the less likely we will forget to repay and become overdue.

According to statistics, major banks across the country have issued 659 million credit cards, and the average person in the country holds 0.47 credit cards. This means that for every 2 people on the street, there may be one or more credit cards. It’s obvious that credit card advance spending has become a favorite among many people. Some cardholders even have multiple credit cards, but in fact, there are many disadvantages to applying for multiple credit cards.

It will cost a lot of money to apply for multiple credit cards. Every time we apply for a credit card, the bank will ask about your personal credit history and decide whether to apply for it for you. If you use a credit card multiple times, the number of times the bank will query your credit record will increase, and your credit record will definitely be spent. No matter who your credit is with, the bank will determine that you are not a high-quality customer, and it will be very difficult for you to get a loan in the future.

In addition, there are too many credit card applications, and the limit that the bank can approve for us will gradually decrease. Since each bank is aware of your credit card limit, the total limit given to you within the bank is limited. The more credit cards you have, the limit will be spread out, and the limit will not be ideal after application.

With more credit cards, our debt ratio will increase significantly. Moreover, banks will also subconsciously think that cardholders are in debt, in which case banks will take their own risks into account. If a cardholder is overdue, multiple credit cards will be charged or even blocked.