How Many Credit Cards You Should Have in Your Wallet?

Folk wisdom on credit cards ranges from “stay away from them” to “sign up for as many as you can, as early as you can.” With this level of cultural consensus, it becomes a daunting task to figure out how many credit cards you should have to maximize your financial health. 

What’s the Ideal Number of Credit Cards?

Unfortunately, no single, ideal number of credit cards will be perfect for everyone. Instead, the number of credit cards you should have is specific to your situation, preferences, goals, and financial health. 

Benefits of Having Multiple Credit Card

 Individually, most modern credit cards offer various benefits, including: – Cash sign-up bonuse – Points, miles, or cash back – Access to exclusive discounts, deals, and membership

Downsides of Having Too Many Credit Card

For one thing, managing a mix of credit and debit cards can be a logistical burden. Keeping track of it all gets more difficult the more accounts you add.  

A Few Factors to Consider

Rather than a one-size-fits-all number of credit cards that everyone should stick to, it is instead a more individual process to determine the sweet spot for your finances. 

What You Use Your Credit Cards For

One card may be fine if you prefer debit cards or cash and only keep a credit card around for infrequent purchases or emergencies. 

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