Does downgrading Amex affect credit score?
Does downgrading Amex affect credit score? Usually, to change credit cards, you need to cancel your old card and apply for a new one. Both of those actions can impact your credit score. When you downgrade a credit card, however, your credit is not affected. Card issuers only let you downgrade to credit cards in the same product line.
Is 3 credit cards too many?
If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.