Can having too many Credit Cards Hurt Your Credit Score
                     Can having too 
many Credit 
Cards Hurt Your 
Credit Score?
Your credit score is the one which defines 
your overall financial health, hence it’s very 
important to take care of it & to know about 
the components which can affect it or 
damage it. 
Having multiple credit cards generally won’t 
hurt your credit score. But in case you are 
using them irresponsibly, then, in this case, 
your credit score may drop considerably. 
Here’s the breakdown of how is your credit 
score affected by having multiple credit 
cards.
Payment History:
 Payment history alone is responsible for 
35% of your credit score. 
 Lenders are very quick to report even a day 
of default, and this adversely affects your 
credit score.
 If you regularly pay your outstanding 
balance for all your credit cards, then it is 
not going to affect your credit.
Debt to Credit Ratio:
 Debt to credit ratio is responsible for 30% of 
your credit rating. 
 This is also referred as credit usage or credit 
utilization ratio, this ratio denotes the 
outstanding debt on your credit card with 
respect to the available credit. 
 If it is more than 30% then the ratio hurts 
your score. 
Length of Credit History:
 15%. This is where individuals with various 
credit cards can fall into hardship. 
 Individuals with incredible financial 
assessments have a normal age of 11 years 
for the majority of their cards, with the most 
seasoned card being 25 years of age. 
New Credit
 Almost 10% of your credit score depends on 
your new credits. 
 Anytime you have a new credit source 
granted to you, your overall credit score 
increases a bit. 
 New credit always increases your credit risk. 
Hence having multiple cards is also a red 
flag to you. 
Type of Credit
 This contributes 10% to your credit score. 
 Credit bureaus always check upon how you 
manage your debt across different types of 
credit accounts. 
 In case all of your credits are of one type, it 
can affect your score. 
Quick Tips to Maintain a Good CIBIL 
Score
 
 On-time payment for all your debts 
including Credit Card payment.
 Avoid Applying for multiple loans at a 
time.
 Avoid having multiple credit cards.
 Maintain a good credit utilization ratio on 
your credit card.
 Make full payments for your credit card if 
possible.
 Always pay more than the minimum amount 
due on your credit card.