Is it bad to have too many credit cards?

Yes and no. If you are responsible, credit cards can be beneficial in many ways. First they can be very convenient and help in emergency situations. Secondly, 30% of you FICO score is calculated by what is called capacity. This is the percentege of revolving accounts compared to total balances. Say you have a $1000 CC with a balance of $500, you are only receiving 50% of the points for the capacity category. To boost your credit rating, keep the balances low, limits high. If you are a compulsive spender, stay away from credit cards, they can get you in debt very quickly

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