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.
However, 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.
Your ability to budget and live within your means are strong indicators of your ability to manage credit wisely. Credit cards can end up costing you more in the long run and significantly impact your long-term financial goals if not used properly.
For some people, having one credit card is enough. It allows them to build credit, earn rewards, and track their spending while paying off each month’s balance. For others, it could be three credit cards.