Disadvantages of having too many credit cards

The downsides of carrying too many credit cards range from inconvenient to financially dangerous.

The number of credit cards you hold can affect your credit score.

Similarly, your credit profile can affect which cards you can have.

If you have a bad credit history and have had trouble maintaining your loans and making monthly payments in the past,

So it will be difficult for you to qualify for the best credit card and interest rates.

It could also be a sign that managing multiple cards isn't the healthiest move for you right now.

Adding more cards to your financial ecosystem can build your credit score in many ways, but it can also be detrimental in some ways.

Therefore, before increasing or decreasing the number of your cards, it is a good idea to check your credit report.