Is It Worth Keeping So Many Credit Cards?

[anuragmukherjee28]

I currently have 3 credit cards: one for rewards, one for fuel, and one I rarely use. I’m worried about how this affects my CIBIL score. Should I close unused cards or keep them for a better credit mix? What do you all do?

 

[harsh_ujjwal]

If it is LTF you can keep it. Overall it helps in keeping credit utilisation low. If it is paid you can close it.

 

[anuragmukherjee28]

If I don't use one of those card, will it affect my CIBIL score? I have seen that it is okay to have 0-30% credit utilisation ratio

 

[harsh_ujjwal]

No. It won't affect credit score. Still you have to use it once a year to keep it active.

 

[Mr.Christmas]

I have 14 Credit Card.. I will suggest, if you can get it then take it... Bas LTF hona chahiye..

 

[IshanBhardwaj]

Three cards are not many, I might have 12-13 cards just to keep my credit utilisation low and for emergencies. Just ensure they are LTF or provide more value then their fee.

 

[shivtej]

It does not matter how many cards you have. The only thing that matters is are they useful to you, if yes keep them otherwise close it. But it's good to have LTF core cards from major banks for sales.