How Many Credit Cards Should I Have?

The number is all over the place, which raises the question–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.

There’s no perfect answer like so many other things in life because personal finance is personal.

However, you can use some essential criteria as a guide.

So, keep reading to learn about the pros and cons of how many credit cards fit your budget and lifestyle!

Credit Card Pros

Credit cards make life easier and maximize your dollars. Here is a list of some credit card pros:

1) To build credit. There’s no arguing that money is essential.

2) To earn rewards. Nobody wants to spend more than they have to.

3) Convenience. Credit cards are easy to use and more convenient than cash.

Credit Card Cons

Despite many advantages, credit cards also come with a few disadvantages. Here is a list of some credit card cons:

1) The potential to overspend is real-and there’s science to prove it.

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.

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