I have 3 credit cards out of which 2 are in use and 1 is lying just like that. Is it ok if I close that?
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I have 3 credit cards out of which 2 are in use and 1 is lying just like that. Is it ok if I close that?
Too much credit is considered bad, credit card is also a form of CREDIT source. So, from the basic rules, always keep minimum credit card. Instead of 2 credit card with 1 lakh limit each, have one with 2 lakh limit. And definitely keeping 1 lying may hurt your CIBIL score as you may been seen as credit hungry.
Hope you know what you asked for.
Thanks Aarish, even I didn't know this. Though I am yet to have credit card but I now know that for good credit score you should have minimum credit card.
Thanks Arish for sharing such incredible knowledge.