How Many Credit Cards Should I Have? See The Full Details

How many credit cards should I have? This is a significant question many people ask, and what type of credit cards should you have? The answer is based on individual and likely to evolve with your finances, spending, knowledge, and credit offers.

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What is Credit Card?

The word credit card can be described as a payment card issued to users to allow the card-holder to reward a merchant for goods and services related to cardholders’ pledge to the card issuer to pay for the amounts with the other agreed charges.

Either you have more than eight cards, you can’t take everything with you. But if you have ever spent your way into a massive pile of credit card debt, then your answer might be “no” to how many credit cards should I have?.

There are advantages and disadvantages of having more than one credit card. The problem is that most individuals can agree that having many credit cards can help or hamper your credit score, depending on how well you manage them.

About 377 million open credit card accounts in the U.S. in 2020, and other reports we gathered show that almost two in three Americans own at least one credit card.

Everyone has their way of doing things, as some prefer to live without any credit cards so that they don’t spend cash they don’t have. Others can do pretty well with a single card that pays cash back, or maybe two cards.

Each card is used differently, as one for everyday spending and another for eating out or traveling.

 Is it Good to have Many Credit Cards? 

How many credit cards should i have
How many credit cards should i have

How many credit cards should I have? the question attached with many things and your credit score’s effect is probably one of your primary concerns about having many credit cards.

The common concern is what we said above, but it can assist your credit tally by making it more easier to keep your debt utilization ratio low when you have multiple credit cards.

Let’s run some example; if you have one credit card with a sum of $2,000 credit limit and charge an average of $1,800 a month to your card, it means that your debt ratio or the amount of your available credit that you use is 90%.

A high utilization ratio will impair your credit score, and it may not seem fair at all, and that where credit scores are concerned.

But to increase your credit score, many credit experts suggest that you avoid using more than 30% of your credit card at any given time.

 Is Multiple Credit Cards Too Many? 

If you can’t afford multiple cards can affect and even having two credit cards can be one too many for you; if you are paying the bills, it can be challenging; if you don’t plan to use it for some purpose, then you don’t need it.

But getting a new credit card can sometimes improve your credit score by potentially lowering your total credit line utilization.

Having a lot of cards in a short period is not advisable, as many card issuers have a protocol to battle this sensation that has arisen with clients that attempt to game the system by pen up for lots of credit cards to get the bonuses and then cancel after meeting the spending requirements.

Another potential downside of having many cards is that it can make you look risky to lenders and lower your credit score.


Even if you have up to 15 credit cards in your possession, it doesn’t matter, and the main thing is that your cards give you ways to more than one network and give you the rewards that best meet your needs.

While the point of having 2 to 15 credit cards is earning points or cashback on your day-to-day spending that you pay off every month. And it would be best if you kept your credit utilization low so that your credit score can improve.

Read more: How To Get A Flight Attendant Jobs In 6 Easy Ways

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