Is you CIBIL Credit Score hit, if you have more credit cards?

[Feroze]

I read somewhere that your CIBIL Credit score gets hit if you have more credit cards, whether you use them or not. Is it so? And is the same also apply to the saving bank accounts in different banks.

Thanks
Feroz

[Rahul]

Yes and No both, see below

Yes:
- If you have more than 4 credit cards.
- You are using more than 50-70% of the credit limits of your credit cards.
- You have some dormant saving accounts

No:
- If you have less than 4 credit cards.
- You are using less than 50 of the credit limits of your credit cards.
- You have few saving accounts and all working

[Manish_Kumar]

I am not too sure if they take into account the dormant savings accounts for credit score calculations.

[ankitadixit]

If you have multiple credit card, can hurt your credit score.