1. Mar 22, 2001 #1
   

   Mike Well-Known Member

   I have a total of 8 credit cards right now, all with very low balances when compared to the limits. Does anyone know if FICO penalizes you for having too many cards? I know that ideally you should have 3-4 cards, but at what point do they start deducting points for too many accounts?

    

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3. Mar 22, 2001 #2
   

   GEORGE Well-Known Member

   IT IS A SECRET, THEY DON'T WANT YOU TO KNOW THE ANSWER...
   
   
   
   BACK IN THE OLDEN DAYS (70's & 80's)...if you paid EVERY bill on time, that was all that mattered...
   
   
   NO YOUR F.I.C.O. SCORE OR HOW MANY CREDIT CARDS YOU HAVE...

    

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