 Hello everyone, this is financial author Ahmed Dan of Iran Journal. Today, I'll talk about 20 plus credit cards and 800 plus credit score. Is it even possible? The people I know and the employees at my banks almost have a fit when I tell them I have around 20 plus credit cards with a very high credit score like above 800. For most people, more credit cards are associated with more debt and a lower credit score. More debt for some people, I can agree with, but lower credit score, I could not disagree more. The general misconception about having more credit cards is that they lower your credit score. This assumption could not have been possibly further dispersed from the truth. Having a lot of credit card is okay as long as you're paying you bills on time and keeping your utilization ratio below 30%. However, 30% utilization ratio considered the highest limit you can go to keep a good credit score. Lower is better. For example, FICO and Experian data show that those who have the best credit score, such as 800 or higher, utilize only 7 to 8% of their credit. Your utilization ratio represents what percentage of your available credit you're using and makes up 30% of your credit score. Now, how about having too many credit cards? Having too many credit cards and mentioning them properly actually gives you an advantage to achieve a higher credit score. It's shooting up your available credit limit, meaning making your utilization ratio lower and showing positive on your credit report because lenders view you as someone who can be trusted with credit because you are maintaining them positively by not racking up balances and keeping them active paying on time. After all, payment history makes up 35% of your credit score. So, when you score perfect both on payment history which is 35% and utilization ratio 30%, you already have an advantage towards scoring higher on the overall credit score. The other 15% length of credit, 10% types of credit and 10% inquiries will easily follow. One of the maximum credit card holders with an almost perfect credit score recorded by Guinness World Record was Walter Kavana of California who has 1497, yes 1497 credit cards and a staggering 1.7 million line of credit. Other examples, the points guy, Brian Kelly has 30 credit cards and 805 credit score. Ben Shalpic of One Mile At a Time has 20 plus credit cards and 837 credit score. The point is there's nothing wrong with having too many credit cards as long as you know how to manage money and credit cards. However, I must warn you that it requires a lot of discipline and work and this is not for everyone. You have to be extremely detail oriented and extremely excellent in handling credit cards and money. If you are one payment late, your credit score will take a nose drive. Everyone has different purposes of achieving a higher credit score. My purpose is the satisfaction that comes from a higher credit score and also to utilize the various perks that come from having lots of different credit cards. I'll talk about this more in my next book, credit card hacks, what credit card companies don't want you to nail. Stay tuned. That's all for today. Thank you.