You have to improve your CIBIL score on the good track. In this case, many things you can do for it, but not all of you understand the reason to do this thing. When you have a good score, you will easily get the loan in the future. Therefore, everybody always wants to get the good score, especially for them with multiple accounts. They can spend more and push themselves to earn more. What do you think about it?
What is the Impact of Having Multiple Accounts?
Multiple accounts mean multiple enquiries. When you apply for a loan or credit card, the lender or the card issuer will make an enquiry. The more you have the loan, the more enquiries they are. The enquiries will influence your CIBIL report. This thing is same as when you have many accounts. It will make you confuse in making a priority and to repay all of them. Therefore, it would be better for you to not apply many accounts if you do not need it absolutely.
Not all people will think that when you have many credit cards, then you are awesome! You have to notice its statement. You cannot fill your wallet or your pocket with many impressive and shiny plastics. It looks awesome for a while, but it gives you more than a pain forever. You will get the difficulties in managing those accounts. All of the bills, when it comes together, what will you do? How is about your proper need? You will look awesome for a while, but remember of your pain to repay all of it. You will never get your salary in hand, since might be all of it has to use for repaying the bill. You will indirectly become a credit hungry behavior and it is very bad to adapt.