How Many Credit Cards Should I Have?

According to a Credit Karma report, the average American has 2.5 credit cards. Some have two; for others, it’s three. Of course, outliers may have more or less.

The number is all over the place, which raises the question–how many credit cards should I have?

Credit Card Pros

 1) To build credit. 2) To earn rewards. 3) Convenience.

Credit Card Cons

1) The potential to overspend is real. 2) It’s expensive if you don’t pay off the balance every month. 3) It can hurt your credit if you miss a payment. 

It ultimately comes down to your financial situation and spending habits. You must consider your income, ability to pay bills on time, budget, and money habits.

How Many Credit Cards Should I Have?

Is There A Such Thing As Too Few Credit Cards?

There’s no punishment for not having or using a credit card. However, credit cards can help build credit.

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