Too many credit cards ?? Dilemma

[remy lover]

Hi All
I have 7 credit cards with £18k available in total. I use a couple of the cards now and then and always pay off at end of month. I do owe £1k on 0% on one card which I am paying off. I do quite like the knowledge that I can get emergency money if needed as I have very little savings and no rich relatives. Shall I give up any of my cards and is having too many cards likely to affect my credit rating? I may want to take out a car loan next year. I am in full time employment.
I also have 3 current accounts with no overdrafts.
Thanks
Remy

[society]

sounds like you're in good shape remy.
i don't believe having too many credit cards will affect your credit rating. if you close any, then your credit rating will go down.

[hc4361]

Having a lot of unused credit cards does adversely affect your credit rating.

"Pay off in full every month, don’t use cards enough, or always shift debt to 0% cards, and if they can spot you, they may reject you."

"Cancel unused credit cards, debts and accounts.

Access to too much credit, even if it isn't used, can be a problem. If you have a range of unused credit cards, cancel most of them; this lowers your available credit and should help (see the Cancel Old Cards article for full info on what to close when)."

http://www.moneysavin...t-rating-credit-score

[Whoever]

I can't really see why you need 7 credit cards although I can see that a maximum of three would probably be useful if you wanted to use them for different things. Once you've paid off your outstanding £1000 it might be sensible to cancel most of your cards, and just use your three enough for you to be seen as a regular user, as some providers are now cancelling cards if they're never used. But continue to do what you do now and that is pay them off every month. Once your debt is eliminated it would be sensible to use your spare cash to build up your savings. Running a car is an expensive business with tax, insurance, petrol and maintenance, so keep a special car fund to ensure you are never financially embarrassed over its running expenses.