How Many Credit Cards Should a Person Have?
There are three types of people when it comes to credit card use. The first type abstains from any and all cards. The second type has so many cards their wallet is the size of a cinder block. The third type have a few credit cards, but sometimes wonder if they have too many or too few. So what is the “right” number of credit cards?
For starters, there is no right amount. How many credit cards you should have is related to your ability to manage debt and make payments. If you are a responsible card user, the amount of cards in your wallet is more or less irrelevant.
Second, the amount of credit cards you have will affect your credit score, but not necessarily in the way you think. The amount of cards you have is more informational than anything. If you have a high amount of debt, the credit report will seek the number of cards in your name and interpret that as a basis for your debt. Again, if you have a good rating and low debt, having a high number of cards won’t matter. Check your credit score today!
How many cards you have is based on you. If you have a card, you might have a gas card. You might have a card only for emergencies. You might have a card with sweet rewards benefits that you use for everyday purchases. Make a list of the items in your life for which a credit card will be useful and go from there. Also, if you have credit cards to pay off other credit cards to pay off other credit cards, you might be in need of a debt consultation.
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Only spend money that you have and you will always be free of credit card debt.
Good advice and other credit card articles here should also be read by all.
I have 3 credit cards. Only 1 do i use – to buy groceries, etc. and I pay off monthly (I use it because I get rewards…- is like free money)
After reading articles here, I decided I should use one of the other credit cards & just paid that one off. So now I'll use the 3rd credit card & pay it off quickly. (these 2 i keep in a safe place)
i think a person should have atleat two.
Thanks!
I dont really want any credit cards dont want to be in debt.
As long as you're not using one credit card to pay off another its fine to have more than one. I think its best to have just one with a high limit.
I think credit cards just get people into trouble:( Gives them the feeling that they have all the money in the world, if they abuse it.
Don't use a credit card. Try to stay away from it as much as possible.
I think people should only have no more than three credit card. One for emergency, another one for school or job, the other one for saving money. I personally do not like credit card because I don't know I will be able to pay of by the end of the month or not.
only one is enough
I agree with Brandon all the way. NO DEBT!!
A person shouldnt have over 5 cardes. how the economy is now.
I totally agree with the last sentence of this article.
i only have a student credit card, and i definitely agree with the fact that only one is enough.
I only have one card/debit for gas etc., tied into an account that my parents put money into
very good.
awsome
Its definitely best to have an amount of cards that wont allow you to get confused… I'd say to stick with one debit and one credit for some time… then move on…
I think a person should have at least 2 credit cards.
One credit card and one debit. try to always use debit.
It actually depends on your debt to income ratio. you should actually have 3 revolving credit lines to increase your score all should be paid on time. so if you have a carnote and two cards would be ok. too many cards hurts your credit and especially if you have too many and your not using them. Just transfer your balances if you have too many try to stick with two then let the cards expire.
It is important that one never becomes too dependent on credit cards
one is good and safe enough
1 for real emergencies only!
i agree only one just for emergencies, good to build up credit if ur responsible.