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.

Keep reading to learn about the pros and cons of how many credit cards fit your budget and lifestyle.

Credit extends your purchasing power for a home mortgage, to invest in a business, and to finance an auto loan.

Credit Card Pros

Credit card companies may offer cashback or points on your everyday purchases to save you money with little effort.

Credit Card Pros

The potential to overspend is real. It’s easy to spend more than you intend when using a credit card versus cash–and there’s science to prove it.

Credit Card Cons

Credit cards have high-interest rates that can take years to pay off when only paying the minimum balance. It can get out of control quickly.

Take Advantage of Cash Back Offer

You must consider your income, ability to pay bills on time, budget, and money habits.

How Many Credit Cards Should I Have?

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Visit WealthyNickel.com to learn how to save money and invest!

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