Owning many credit cards is seen as a good thing by many people, but this is not necessarily so. With more credit comes the temptation to spend more. Unless you are very disciplined with you finances, then you should probably resist the urge to sign up for as many credit cards as possible. Some other disadvantages to having too many credit cards aside from the most obvious one of being able to get into more debt, is that the more credit inquiries you have on your credit rating can actually reduce your chances of getting approved for bigger loans such as a car loan or a mortgage. Creditors see it as a bad thing if you have too much available credit because even if you are not using the credit, you have the ability to run up the credit at any time. Another disadvantage of having multiple credit cards is not being able to use all of them. When creditors see that you have never used a card that you have applied for they consider it a liability because you have the capacity to run up the card at any time you want. Besides with multiply credit cards you have the greater possibility of having them stolen without your knowledge. With Visa, MasterCard and American Express now accepted worldwide, those are the only credit cards that you really need to keep in your wallet. With the big three you are pretty much assured of being covered no matter where you go. So, if you are keen on owning multiple credit cards then those three are your best bet.
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