Will the unused credit card have an effect on the credit score?

[Shrikant_Inturi]

I have never taken any loan from any bank but I have around 6-7 Credit Cards. Out of those CC, I am using only two mostly and remaining are lying in my valet. I am now looking for a home loan, so I have a query
1- Do I need to surrender the unused credit card?

2- Will the unused credit card have an effect on the credit score?

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[Rahul]

If you hold lots of credit card then you might be already at the maximum limit of credit, so the bank may decline the new credit to you.

So it's better to surrender unused credit cards.

[Shrikant_Inturi]

How many credit cards, one can hold?

[Matrix]

How many credit cards, one can hold?

It's not the number of credit cards but the combine limit or credit limit of all the CCs. As a standard - one should not have the combined limit of CCs more than your annual salary.

[Shrikant_Inturi]

Just checked and found out that some of the unused credit cards are not renewed by the respected bank.

Did they have automatically cancelled?

[Matrix]

Just checked and found out that some of the unused credit cards are not renewed by the respected bank.

Did they have automatically cancelled?

It's better to check the bank. Or check the credit history, it will tell you how many credit cards are listed under your name.