Does having multiple credit cards affect your credit score negatively?

Point Hacks often mentions that they have multiple credit cards and often get a card for it’s perks. I’ve heard that it affects your credit rating by changing credit cards to another company, as well as holding multiple cards.
Does anyone know anything about this?
It’s the only reason preventing me from changing from my current ANZ Frequent Flyer Platinum to a better deal. I’m 21 years old so in the next 5 years looking at buying a house and thus my credit rating is important.


I can only talk from personal experience. I usually apply for between 2-4 cards each year (depending on how attractive the offers are) and have never had an issue with either not having the card approved or my credit score taking a (BIG) hit.

It does impact your score if you constantly churn, so you gotta be careful. However, if you space it out nicely and not apply every month or so, as a general rule, you should be fine. What’s more critical here is your management and discipline to make all payments on time.

Having said all that, if you are in the market for a new mortgage, you must be really careful. I know of 2 people who got a card and when they applied for the mortgage soon after, they were asked to cancel the card altogether. In one of those instances, they managed to obtain the mortgage simply by cutting down the credit limit on the card and did not need to cancel. But that should not be construed as a general rule.

Hope this helps.

Hi Willokent,

I am in a similar position to you in terms of age and getting a mortgage. For the past two year I have been doing the ‘point hacks’ credit card game. I couldn’t agree more with Rohit’s reply regarding spacing out applying for cards. I normally aim to apply for one at a maximum of every 5-6 months. It really all depends on your income and what card you are applying for.

It is also important that you pay by the due date because that will significantly lower your score.

All the best and good luck ‘points hacking’


No, having multiple credit cards wont impair your ‘credit rating’.

Simple explanation, what will affect your credit rating negatively is if you are late making your repayments. Don’t do that.

What matters when you finally apply for home loans is the total of credit card limits you have, not how many you have.  You might find you need to reduce your limit/s to increase your home loan borrowing power.