Multiple credit card in cibil is good or bad

[Akshay Ajmera]

Hi

I am having multiple credit cards from different banks. I was just looking at my cibil score and it mentioned how much total limit I have from all class.

I want to confirm if it does impact us on cibil if we get a huge amount of total limit from multiple cards. Also, do it create problem in multiple banks if we have multiple credit card.

 

[hema220]

it may be a problem for new credit cards. but has little impact on cibil score

 

[Rag]

The effect on your credit score should be positive as your limit increases and in turn lower utilization ratio.


But another problem I heard is over-leverage. Total reported unsecured debt exposure should be less than 2-3x net annual income otherwise it might impact future debt needs due to over-leverage.