Expert commentary: How the number of credit cards you have can affect your chance of approval
Tristan Taylor, Experian's general manager of credit services, says that credit card providers are required to lend responsibly, and a borrower having multiple credit cards could be a red flag.
"Even though you may have multiple credit cards, and you may be up to date with all of your payments, your combined credit limit (the total credit limit across all of your credit cards) may be factored into servicing calculators. These, along with other measures, are used to determine how much debt you can actually manage and subsequently, whether or not to approve you for other credit you apply for such as a home loan. This could result in a lower loan amount or even a declined loan application."
i have one inquiry shown in my credit file how much will effect my credit score?