Google AdWords had a limit of 500 campaigns and up to 3 million keywords per AdWords account. Things are going to change!  Google announced that, you can now have up to 10,000 campaigns (this will include active and paused campaigns) per advertiser account. The number of keywords hasn't changed, however.

Here are the up-to-date AdWords account limits:

  • 10,000 campaigns (active and paused)
  • 20,000 ad groups per campaign
  • 5,000 keywords per ad group
  • 300 display ads per ad group (including image ads)
  • 4 million active or paused ads per account
  • 3 million keywords per account
  • 10,000 location targets (targeted and excluded) per campaign, including up to 500 proximity targets per campaign
  • 100,000 active ad extensions per account
  • 1.3 million references to ad extensions per account

AdWords Editor, the AdWords API, and all other AdWords services are all compatible and work with the new limits.

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Read the rest here:
Google increased Adwords campaign limits!

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