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.

There’s no perfect answer like so many other things in life because personal finance is personal. Keep reading to learn about the pros and cons of how many credit cards fit your budget and lifestyle.

Credit cards come with some advantages that benefit owners. When used  responsibly, credit cards make life easier and maximize your dollars.

Credit Card Pros

Credit Card Cons

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.

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?

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

Is There A Such Thing As Too Few Credit Cards?

It’s a personal decision based on your financial situation and money  habits. Not owning a credit card is acceptable. In other cases, holding three cards works best.

Swipe up to continue reading!