Multiple Credit Cards: Boost or Bust for Your CIBIL Score? Experts Weigh In

• Having multiple credit cards can increase your total credit limit, potentially lowering your credit utilization ratio if spending remains proportional.
• A lower credit utilization ratio (e.g., 10% for ₹20,000 spent on a ₹2 lakh limit) positively impacts your CIBIL score.
• Timely payment of all bills is crucial; even one late payment on any card can significantly drop your CIBIL score.
• Managing multiple due dates can be challenging; setting up auto-payments is recommended to avoid late payments.
• Long-term responsible use of older cards strengthens credit age, but increased spending with more cards requires careful expense management.

Why It Matters: Multiple credit cards can improve your CIBIL score if managed responsibly with low utilization and timely payments.