How Many Credit Cards Is Too Many? 

Dave Ramsey is the perfect analogy of alcohol and credit cards. He thinks CC are evil. That's because he was burned by CC years ago. Like a recovering alcoholic, all he can do rants against his past addiction. Nevermind those who drink wine or beer or utilize credit cards responsibly.

11 active cards 813 Fico score aged 10 plus yrs

I currently have 12 cards. Sebby you have completely changed the way I use/think about my credit cards. I was a pay the minimum or a little more user. Now I just wait the 2 days for it to post to my account and I pay it off. The rep from Capital One said " We don't really like customers who pay the whole amount off" I laughed at her. Great videos. keep up the good work.

I have a total of 5 credit card with a credit score of 786 and my oldest is 3-4 years old.

I have around 20 cards. My three scores ranges from 709-736. I've only had these cards for 2 years. That being said, none of them are maxed out and they carry zero balance most days. I normally have a balance of 1-2k each month before paying. I also just want to add that I check all of my cards once or twice a week. I have a journal where I record the balance and on which cards. It helps me keep track of my cards and I've never been late on any payments.

I currently have 10 credit cards and 2 retail cards been working very hard to better my credit score thanks for your videos.

I am here to click the like button mostly. I love your video’s and skimming through some old ones. I recently got the CSP as well as the AMEX PLT. I got the Amex before really understanding the system you’ve been sharing. Now I’m trying to get the Chase “Three”. Thank you again for all your hard work on these videos!

A good credit score will save you thousands of dollars ! I learned the hard way - teaching everyone I can to take care of their credit and pay their dues!! Good video !

Love the Highland Park whisky in the background :-) You should check out the distillery in Scotland- they really make it worth the trip. Also- great advice as always

I currently have 18 credit cards, I use only about 5.

You are Awesome and wise, Sebby !!!

I have just 2 credit cards, a rewards card and a regular platinum card with my bank. I just used them for daily expenses like groceries, online shopping etc. for more security than debit cards

Ultimately I think it really depends if you believe your ability to pay off balance in full each month for each card.

I have 4 cards; one for groceries & gas, one for travel, one for everyday purchases, and one for military expenses. My credit has been between 750-780 over the past 3 years. I like to pay them off each month but occasionally I will carry a balance of about 1-2 thousand on my every day card. My combined limit is about $45,000 so that level of usage doesn't effect me much.

Good stuff, Thank you

I have 4 cards at this time...Two Mastercards, one Citi, one from Capitol One, and then I have a Chase Visa, and Discover it. I believe that it is good to diversify the Banks and rewards prgrams for benefits and also to use for backup. Since Visa, MC and Disc all run on different networks, I have to ability to chose other options if one of those networks go down....Also i only use two at time and keep the other two idle...keeping my utilization at about 5 percent or less.

Awesome video very helpful

Good Information!

Stop with the counter statements. Tell them to watch your other videos if they need more education on credit cards, don't accommodate the people who think credit cards are evil because they won't watch this video or even take what you're saying seriously. Keep up the good work! I'm working towards 10-15 total. I have no problem with more but I think 15 is more than enough for myself.

Awesome info.

Started a credit rebuild last year with 2 Cap One Platinum cards and a Cap One Buypower card and that was it just those 3. After working on repairing my credit for the last year I'm up to 18 presently. Yes thats a crazy number but it includes a bevy of store cards, that are rarely used just a small purchase here and there and that were mostly obtained to keep my overall utilization down if I didn't PIF before my statement cut and a couple of sock drawer cards. If we're just talking cards I actually use the number is actually 8 with a mix of 5 revolvers and 3 store cards. I know my number seems high but I'm very careful to spend only within my means and pay in full every month unless my card has a 0% intro rate and I want to give myself a month where I make a higher than minimum payment but leave some balance to kick some extra toward my savings account that month in addition to what I normally do and then pay it off the next month. I also don't usually make extravagant "treat yoself" purchases but if I do on the rare occasion I make sure that it PIF to avoid the headache. I'm just trying to work on rebuilding after being stupid with my credit in my late teens and early 20's. Also some of those cards are from the same issuer and will eventually be combined when the time comes so there is a plan in place that will eventually lower that number a bit!

I have 24 accounts.

I am 26 and have 2 credit cards. I keep them paid off, and I am about to get a third. I always go for something that I can use month to month and get points (gas, groceries, etc.). Additionally, I usually get a new one if I am getting a new bike. Most cards have a signing bonus that I will reach by purchasing my bike. Generally I get around $250 as a bonus towards paying off the bike. The key is to just already have a large chunk of change in your checking. Has worked well for me.

Great tips! 30 cards yikes lol what on earth does your friend do 😂😂 I have the USAA AMEX and CapOne Quick Silver One cards as tools to rebuild after my bankruptcy in 2012; after being unemployed over 18 months. I hope to get the Chase Sapphire and Amex PRG or Platinum one day. #lifegoals Lolol I hear it's near impossible to get a regular AMEX after a Chapter7, what about the chase sapphire card? I use the alerts on my debit and cc set at $50. It's so helpful and I get text alerts a week before my bill is due

Good info. Thanx

About four or 5 cards I have. Thinking about getting rid of the bank cards and just keeping the credit union

Yes I enjoy your videos a lot. I currently only have 2 cards.. for a long time I thought credit cards were evil...lol so I would pay cash for everything. But as I am becoming more educated i am staying to understand. Thank you for the information. Would it be possible for you to create a video showing how to use credit to grow your wealth. I saw this on another youtube channel but she didn't really get deep into it. It stated out taking about how to pay a 30 year mortgage off in 4 years using a line of credit.

Kavalan whiskey in the background!

Fantastic explanation

Great vid

I have 13 open accounts 😅: Everyday use card, Netflix on 1 one card, Amazon shopping on another, Water bill, Comcast bill, and the other 8 cards are on Apple Pay organized so that I know which card I need to use at least once every few months or so. I always say that the setup process is the hardest and most annoying, meaning the auto pay and online banking, but once everything is set up and automated, you are good to go.

Hi Sebby , I am a senior in college pretty much watching your RU-vid channel I have built up my credit , currently I have 5 cards ( including csp and citi thank you card ) I have most of them for the sign up bonuses do you think I should downgrade on of them that as they have identical benefits !

I got my first credit card 1 year ago and my second card is in the mail. Have about a $1,600 credit line and about a 720 score

I have 12 CCs and I only use 2 of them. I wish I could close half of them without hurting my credit. I recently had a card close without notice due to inactivity so I guess I should start using them all, occasionally.

I am new to credit cards but, I am just curious, if you have a credit card you aren’t using but you still want to keep for whatever reason, can you spend like $1 or less every few months just to keep it active. (For example buy a candy bar with each credit card every few months to keep the card open) Or is there a minimum you have to spend on the card before it closes?

I think 2 or 4 cards sounds ok if you don't spend as much

Helpful.

I always pay off my cards either as soon as it posts, every week, and in more rare cases more near the due date. Regardless it will always be paid off. I also love using Credit Cards because I know ill always get at least 1-2% cash back and I view it as discounts every time. I'm never going back to using Debit cards unless I for some reason have to go over my limits, but even then Charge Cards exist.

Dont see a credit card as money u "have" see it more as a this is how much i can borrow cus regardless u have to pay it back

Hi there .can you please make a videos on best credit cards and to to save money on Disney world vacation . Thanks

I was at 750 with 1 cc (15 yrs)...just got a 2nd cc in December. LOL.

this was great

I have been doing this for a few months now. Mobile apps make it very easy.

My number is currently 5, but will be 3 in about a year as I plan to close 2 of them. I feel that the 3 cards I have, and use regularly, cover almost all of the categories I spend in, and I much prefer the simplicity. 30 cards isn’t an option for me because I don’t use auto-pay as I’m a control freak, and I don’t want any money blindly leaving my checking account. I keep receipts and review all my statements with a fine tooth comb.

I have two credit cards. Only other active debt is my mortgage (which should be paid off this year). 836 credit score. Lots of debt and/or cards is not required to have a ridiculously good credit score apparently.

Does having too many cards affect your credit score or your ability to get loans? I am 20 and have two but would like to add more. Also, is there a high benefit from having cards from different banks? Thanks and love the videos.

I have 8 CC and pay it with autopay. It’s all a matter of good income and responsible ownership.

What I would love to know is how do I protect a high limit card (Lowe’s $8000) that I hardly ever use. I don’t want them to lower my available credit, but I never shop there anymore.

6:20 This is my issue. Short credit history. Card 1:4 years and 7 months old. Card 2: 2 years and 8 months old. 0 hard inquiries. 660 credit score. Stick at that number for a year. How do I get to 750 and up? If I get an inquiry I lose points. If I get a new credit account I lose points. When my average length of time of open accounts gets lowered...I lose points. How many points will I lose? How long will it take to get them back? How long will it take to add 100 points to my score? Can I get a mortgage now, or should I wait for my score to improve?

Hey Sebby I’m @10 or 11 cards right now In your rite on with Auto pay It is a jungle act but I keep balance low in yeah add gym or something so it show the card active in set reminders

I'm up to 3 cards (going to apply for two more) low utilization and not carrying a balance at the end of the billing cycle or keeping your balances very low is the key

Hi, Sebby - I have six cards and carry no balance, but was wondering if my total credit should be equal to, say, my annual income (which it now is) or if there would be any advantage to going beyond that.

Hey Sebastian. Credit Karma uses VantageScore which isn't used by that many credit card companies. Most use FICO. If you're really interested in the nerdy details of credit scoring, watch videos by John Ulzheimer from creditcardinsider. His hour long lecture to students is a good primer.

Is it possible to have an Amex business card and a personal Amex card at the same time?

I have 4 credit cards (23 years old) I use them only buying stuff under $20 because I know I'll be able to pay that off. Usually I use my cards once a month pay it off in full and wait for the next cycle.

I have about ten right now. I'm currently shopping around for like three more

I have 8 cards but 4 of them were my starting out cards with low limits on them like $500 dollars the other 3 have like $2000 on them is that bad to have that many cards ? Especially if I’m wanting to buy a condo

Hey Sebby, have been a near daily watcher for awhile now and really appreciate your content. I'm curious what your thoughts are on creating a video breaking down a static credit card breakdown of payments to maximize returns (almost an anti-churning video). Example being: gas card, grocery card, utilities card, airfare card, hotel card, monthly bills (internet, mobile phone). May not reward as much as churning would, but very easy for someone to signup for a handful of cards at one time and maybe receive an overall 4-5% return. Thanks!

If you have 3 American express cards will all three show up on credit report or just one?

Does having more cards, mean more payments per month and per year, and higher fico points earned per year?

1 card at 793. Don’t feel like playing the game, but it’s tempting...

Very nice explanations. Credit cards are very helpful but you need to be responsible not to abuse it.

I have 9 cards. 1% utilization. 100% payment history. My credit score was 848 before I bought my house and a new car. It's now 814. When I make a purchase, I make a payment as soon as its posted to the account. Which sometimes takes a few days to clear.

I have 11 cards, but only actually use 4 of them, for cash back bonuses. The rest all have my RU-vid channel memberships spread out between them, and all of my cards are set to auto pay the statement balance every month.

MKBHD!

I have a lot of cards now. I want to start getting rid of the rebuilder credit cards that charge annual and monthly fees. But those cards account for a lot of age.

I have 20 to 25 credit cards and a few loans but with a salary of $1,500 approximately the bank doesn’t approved you for any auto loan because they recommend that hey I know you have credit establish but you have to close like 9 to 12 credit cards so I can approve you the new car that you want because in some states and even territory outside of the US like Puerto Rico even if you have 25 open credit cards and in $0 balance they will consider first the entire utilization of each card even if it’s in $0 for months so that’s why those banks recommended to close 10 cards than we talk about your new car loan.

If you have the platinum amex card does it make sense to have the premier reward gold card

I manage pretty good 70 cards

I have 17 and agree how many you should have is an individual thing. I want to get to at least 21 which as you mentioned you need from Credit Karma to get excellent in that category although I doubt it does much of anything for your FICO score. I know as long as you pay them on time and in full it won't hurt your FICO score. One factor to keep in mind though individual credit card issuers can have formulas saying someone with 20 credit cards has too many regardless of your utilization and payment history.

I like the idea of paying off your CC at the end of the day, and I've considered doing this in the past, but my mom told me that could lower my CS. Is this true?

Hey Sebby, I currently have a discover, amex, and Citibank card. In addition I have a best buy and kay jewellers cards that I haven't used in years that I wanted to get rid of. Can I do this without hurting my credit? Those cards have $0 balances.

I opened 3 cards and my score dropped 100 points. Can you tell me how long it will take to go back up if I keep them paid under 10% and always on time?

My oldest credit card account is from a local furniture store in another state that I haven't lived in for a few years. Is there a good way to shift it from being inactive?

Hi Sebby, what do you use to edit your videos?

I have 6 credit cards right now but only use 1 because it gives the highest rewards. Is this bad I heard they will start closing themselves of I don't use them.

My (current) number is 8, which includes 3 annual fee cards.

I have 4. All have no annual fee. People paying annual fees on 10 cards are spending $500 or more a month on these annual fees.

Eight to ten Credit Cards,: easy to set "Autopay" -- no problems w/ over-spending.

Got 4 cards, credit is about 1 year old, 740 fico, I'm 20 years old, I wanna apply for a Premium card like the sapphire Preferred but I don't know if I'll get approved for it :/

My number used to be 1. Put everything on Citi Double Cash. Now, I’m switching my focus to travel. Getting my Chase Trifecta established, will keep Citi Double Cash, and the Marriott card. So my new number will be 5.

I have 8 credit cards total. Visa, Mastercard, Amex, Discover. 2 of each. I do want to get a business credit card so I can start my own business.

It only 4 main payment networks 1. Visa 2. MasterCard 3. American Express 4. Discover. And 100s of banks and Credit Unions out there. It pointless to have more than 2 of the payment networks in ur purse or wallet. I only got 6 that all I need. Don’t get caught up in the hype.

Can you do a video on applying for more then one card within the same day and how it would affect your credit score???

Anything more then one card is too many. Have one card for 14 years with a 65k limit and EQ of 835 and TU of 819. Had the card from high school to now.

Hey guys just got my first secured discover card to start building credit in February and I just received from discover that my FICO score is 734. Does this mean that i can start applying for different credit cards or with my credit history only being 6 months old still to new to apply for cards like the citi double cash back and other cash back cards?

i have 39 credit cards i used some 1 time others have not used and some just paying off..

I have currently 21 cards. I pay them off as soon as I use any of them.

6 and soon to be 7 with the intent of building my credit. Credit is in the fair range right now.

Jeremy.from.jersey just subscribed

I have 3 an Amex everyday..... an chase freedom and unlimited and hopefully a sapphire soon. I feel like 3 is too many for me at 19

I have four credit cards, one of which I never use.

I like this video. I do that also. I use it the same day and pay it off right away. And if you need it again it’s paid. In full

right now I only have 2 credit cards , I'm applying for a home loan next year so I don't want to apply for anymore credit, I might do 1 more card not sure yet

I have about 5 right now 2 freedom (one i product changed from slate) 1 freedom unlimited, 1 discover it that I product changed it to discover miles, and 1 spg. My future card debating between gold premier rewards with 50k of chase sapphire reserve. I think I'm going to hold on reserve for now just because I'm still hoping for bigger sign up bonus. Hopefully even with 75k would be good. I would love to get the platinum but just its points sucks. Btw my oldest credit card was 2 years and 9 months

A perfect credit score doesn’t mean anything if you don’t have the payment history to back it

18 personal & 3 business credit cards

21 credit cards, with about $110k in unsecured credit. Minimum wage part time job.

All I use my credit cards for is alcohol. I'll max all of them out.

Credit cards did help me I even started a business