If you've used credit cards at all, then you've probably also asked yourself "how many credit cards should I have?" It's one of the most common credit card questions and depending on who you ask, you can get a huge range of answers. Some people want nothing to do with credit cards, while others have dozens of them.
As you might expect, the answer usually lies somewhere in between those two extremes.
Jump To
- Why you need at least one credit card
- How many credit cards should I have if I'm new to using credit?
- How many credit cards should I have if I'm rebuilding credit?
- How many credit cards should I have if I want to maximize rewards?
- How many credit cards should I have if I have excellent credit?
- How many credit cards should I have if I'm retired?
- How many credit cards should I have if I'm in debt?
- Final thoughts
- Still have questions?
- FAQs
Why you need at least one credit card
Most consumers should have one or two credit cards. There are a few reasons why you should have at least one credit card:
- It's the most secure payment method. A credit card isn't connected to your bank accounts and it's easy to replace if you lose it. For those reasons, it's a more secure way to pay than a debit card or cash.
- It can help you build credit. By paying your credit card bill on time and not using more than 30% of your credit limit, you can attain a high credit score.
- You can earn rewards on your purchases. Rewards credit cards earn cash back or travel rewards points on purchases, allowing you to get something back from the money you spend.
If you can manage two credit cards, then it makes sense to add a second card to your wallet. You'll have a backup credit card in case you lose one and need to wait for a replacement in the mail. You can earn more rewards by combining credit cards. And if you started with an American Express or a Discover card, you can add a Visa or a Mastercard. Those are more widely accepted outside the United States.
One or two credit cards isn't a lot, but most people are better off being conservative. The more credit cards you have, the higher your risk is of missing a payment or overspending and going into credit card debt.
The right number of credit cards also depends on your needs and your credit score. Here's how many credit cards you should have based on more specific financial situations.
How many credit cards should I have if I'm new to using credit?
When you're new to credit, stick to one credit card for at least a year. Your focus should be building your credit, and opening new cards can slow down that process, as each credit card application can lower your credit score by a small amount. Carrying multiple credit cards can also cause you to spend more than you should, especially when you don't have much experience managing credit.
There aren't any big advantages to opening a new credit card at this point, because you probably won't qualify for the most lucrative credit card offers yet.
Wait until you've been using a credit card for a year or two, or until you've achieved at least a good credit score, before you consider applying for a second card. Good credit refers to a credit score of 670 or higher.
Starter credit cards
It can be overwhelming to pick out your first credit card. When you're choosing a credit card for the first time, a few questions to keep in mind include:
- Does this card report to all three credit bureaus? (that's how you build a credit score)
- What are the fees for this credit card? (a first credit card should ideally have no annual fee)
- Does this card offer credit score monitoring? (usually: monthly access to your score and tips on building credit)
Below are some of our favorite starter credit cards. For the full list, head over to:
- Best Starter Credit Cards for No Credit History
As of Jun. 18, 2024
Discover it® Student Cash Back | Petal® 2 "Cash Back, No Fees" Visa® Credit Card | Capital One Platinum Secured Credit Card |
Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.25 out of 5 stars. 4.25/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.00 out of 5 stars. 4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
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Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Fair/New to Credit Under(669) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Fair/New to Credit Under(669) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Fair/New to Credit Under(669) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Fair/New to Credit Under(669) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: New/Rebuilding Under(579) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 New/Rebuilding Under(579) |
Welcome Offer:N/A Discover will match all the cash back you’ve earned at the end of your first year. | Welcome Offer: — | Welcome Offer:N/A N/A |
Rewards Program:5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically 1% - 5% Cashback | Rewards Program: Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. | Rewards Program: — |
Intro APR: Purchases: 0%, 6 months Balance Transfers: 10.99%, 6 months | Intro APR: Purchases: — Balance Transfers: — | Intro APR: Purchases: N/A Balance Transfers: N/A |
Regular APR: 18.24% - 27.24% Variable APR | Regular APR: 18.24 - 32.24% Variable | Regular APR: 29.99% (Variable) |
Annual Fee: $0 | Annual Fee: — | Annual Fee: $0 |
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How many credit cards should I have if I'm rebuilding credit?
You should only have one credit card while you rebuild your credit. Since previous mistakes have damaged your credit score, you should also be cautious about getting a new credit card, even after you've improved your credit. You don't want to fall into the same patterns and have the same problems.
That doesn't mean you need to go your whole life with a single credit card. But before you open another credit card account, make sure you've been practicing smart credit habits for at least two to three years. That means you only charge what you can afford, you stick to a budget, and you always pay your credit card bill in full.
Credit cards for bad credit
When you're on the hunt for a credit card to rebuild your credit, the choices can feel overwhelming. We've reviewed a lot of bad credit credit cards, and these are some of our favorites. For the full list of bad credit credit cards, head over to:
- Best Credit Cards for Bad Credit
As of Jun. 18, 2024
Discover it® Secured Credit Card | Petal® 1 "No Annual Fee" Visa® Credit Card | Capital One Quicksilver Secured Cash Rewards Credit Card |
Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.00 out of 5 stars. 4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
Read Review | Apply Now for Capital One Quicksilver Secured Cash Rewards Credit Card OnCapital One'sSecure Website. | |
Read Full Review | Read Full Review | |
Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: New/Rebuilding Under(579) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 New/Rebuilding Under(579) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Fair (300-669) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Fair (300-669) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: New/Rebuilding Under(579) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 New/Rebuilding Under(579) |
Welcome Offer: Discover will match all the cash back you’ve earned at the end of your first year. | Welcome Offer: — | Welcome Offer:N/A N/A |
Rewards Program:2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically 1% - 2% Cashback | Rewards Program: 2% - 10% cash back at select merchants | Rewards Program:Earn unlimited 1.5% cash back on every purchase, every day. Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply. 1.5%-5% cash back |
Intro APR: Purchases: n/a Balance Transfers: 10.99%, 6 months | Intro APR: Purchases: — Balance Transfers: — | Intro APR: Purchases: N/A Balance Transfers: N/A |
Regular APR: 28.24% Variable APR | Regular APR: 25.24 - 34.74% Variable | Regular APR: 29.99% (Variable) |
Annual Fee: $0 | Annual Fee: — | Annual Fee: $0 |
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Apply Now for Capital One Quicksilver Secured Cash Rewards Credit Card OnCapital One'sSecure Website. | ||
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How many credit cards should I have if I want to maximize rewards?
To maximize your credit card rewards, you should carry at least two to three credit cards. Here's why:
- To earn more purchase rewards: With multiple credit cards, you can choose the card that will earn you the most back on purchases. For example, you could use a card that earns 3% on dining when you go out to eat, one that earns 2% at gas stations when you fill up your car, and a card that earns a flat rate of 1.5% for your other purchases.
- To get more bonuses: The fastest way to earn rewards is through sign-up bonuses. By opening more cards, you'll have more bonus opportunities.
Some people appreciate having an assortment of cards with rewards for almost every situation. If you're interested in this strategy, check out some of our favorite rewards cards here:
- Best credit cards for cash back
- Best credit cards for dining and restaurants
- Best credit cards for gas
- Best credit cards for groceries
- Best credit cards for travel rewards
Credit card rewards cards
Maximizing your rewards means carrying an assortment of rewards cards. Below are a few of our all-time favorite rewards cards, but if you want more, check out our full list:
- Best Rewards Credit Cards
As of Jun. 18, 2024
Wells Fargo Active Cash® Card | Chase Sapphire Preferred® Card | Chase Freedom Flex® |
Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
Apply Now for Chase Sapphire Preferred® Card OnChase'sSecure Website. | Apply Now for Chase Freedom Flex® OnChase'sSecure Website. | |
Read Full Review | Read Full Review | Read Full Review |
Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) |
Welcome Offer:Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. $200 cash rewards | Welcome Offer:Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. 60,000 bonus points | Welcome Offer:Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening! $200 bonus |
Rewards Program:Earn unlimited 2% cash rewards on purchases. 2% cash rewards | Rewards Program:Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases | Rewards Program:5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Travel℠, 3% on dining and drugstores, and 1% on all other purchases. 5% cash back offer |
Intro APR:0% intro APR for 15 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 15 months from account opening Balance Transfers: 0% intro APR, 15 months from account opening on qualifying balance transfers | Intro APR:N/A Purchases: N/A Balance Transfers: N/A | Intro APR:0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months |
Regular APR: 20.24%, 25.24%, or 29.99% Variable APR | Regular APR: 21.49%-28.49% Variable | Regular APR: 20.49%-29.24% Variable |
Annual Fee:N/A $0 | Annual Fee:N/A $95 | Annual Fee:N/A $0 |
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Apply Now for Chase Sapphire Preferred® Card OnChase'sSecure Website. | Apply Now for Chase Freedom Flex® OnChase'sSecure Website. | |
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How many credit cards should I have if I have excellent credit?
Once you've gotten an excellent credit score, you should strongly consider having at least two credit cards. There's also no firm upper limit on how many credit cards you should have.
Your credit is good enough to qualify for the best credit cards from any card issuer, so it makes sense to carry at least two strong cards that complement each other well. That could be two cards in the same rewards program with different bonus categories, a cash back card and a card with travel perks, or any other combination that suits your spending.
As long as you continue to manage your credit well, you don't need to worry about having too many credit cards. Some consumers have dozens of cards and get value from all of them. It's simply a matter of what works for you. Just make sure that if a card has an annual fee, its benefits are worth more than what you're paying for it.
Credit cards for excellent credit
Once you have excellent credit, you can snag that top-tier card of your wildest dreams. (Probably, unless you're dreaming of one of those exclusive invite-only cards. That's another story.) If you want some help deciding, we've listed some of our favorites below. You can get our full list of recommended excellent credit credit cards here:
- Best Credit Cards for Excellent Credit
As of Jun. 18, 2024
Chase Sapphire Reserve® | The Platinum Card® from American Express | Bank of America® Premium Rewards® credit card |
Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.00 out of 5 stars. 4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
Apply Now for Chase Sapphire Reserve® OnChase'sSecure Website. | Apply Now for The Platinum Card® from American Express OnAmerican Express'Secure Website. Terms apply | Apply Now for Bank of America® Premium Rewards® credit card OnBank of America'sSecure Website. |
Read Full Review | Read Full Review | Read Full Review |
Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) |
Welcome Offer:Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠. 60,000 bonus points | Welcome Offer:Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. 80,000 | Welcome Offer:60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening 60,000 points |
Rewards Program:Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases. 5x points on flights and 10x points on hotels and car rentals through Chase Travel℠. | Rewards Program:Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply. 1X-5X Membership Rewards® Points | Rewards Program:Unlimited 2 points per dollar on travel & dining purchases, unlimited 1.5 points per dollar on all other purchases 1.5 - 2 points per dollar |
Intro APR: Purchases: N/A Balance Transfers: N/A | Intro APR: Purchases: n/a Balance Transfers: n/a | Intro APR: Purchases: N/A Balance Transfers: N/A |
Regular APR: 22.49%-29.49% Variable | APR: See Pay Over Time APR | Regular APR: 21.24% - 29.24% (Variable) |
Annual Fee:N/A $550 | Annual Fee: $695 | Annual Fee: $95 |
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Apply Now for Chase Sapphire Reserve® OnChase'sSecure Website. | Apply Now for The Platinum Card® from American Express OnAmerican Express'Secure Website. Terms apply | Apply Now for Bank of America® Premium Rewards® credit card OnBank of America'sSecure Website. |
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Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.Please visit americanexpress.com/benefitsguide for more details.Trip delay and cancellation insurance and cell phone protection underwritten by New Hampshire Insurance Company, an AIG Company.Extended warranty, purchase protection, car rental insurance, and baggage insurance underwritten by AMEX Assurance Company.
How many credit cards should I have if I'm retired?
You should have at least one credit card when you're retired, and you can also have more if you want and you have good to excellent credit.
What's more important when you retire is to adjust your spending habits. You can keep all your credit cards open and apply for more if you'd like, but you should put together a budget that reflects your new income. Most people see their incomes decrease after retirement. If you don't adjust your spending accordingly, you could end up with credit card debt.
How many credit cards should I have if I'm in debt?
If you're in debt, you should have one credit card at most that you use regularly, and that should be for essential expenses only. It's best to avoid opening new credit cards, although there is one exception: You could get a card with a 0% intro APR on balance transfers to refinance credit card debt at a much lower interest rate. Note that to qualify for a balance transfer card, you will likely need good to excellent credit.
LEARN MORE: How Balance Transfers Work
You don't need to cancel any other credit cards you have. In fact, that may not be a good idea. Canceling credit cards will reduce your available credit, because you lose the credit limit of each card you cancel. This can increase your credit utilization ratio and hurt your credit score. For that reason, it's better to store your unused cards somewhere and avoid using them.
Balance transfer credit cards
When you're looking for a balance transfer credit card, there are a couple of important considerations:
- Length of the 0% intro APR: It's best if you can find a card that will allow you to pay off all your debt within the intro period. If not, go with the longest 0% intro APR you can find.
- Balance transfer fee: The standard balance transfer fee amount is 3% to 5%. This can make a big difference, especially if you have quite a bit of credit card debt to transfer over.
Below are some of our favorites. For our complete list of top balance transfer credit cards, head to our list:
- Best Balance Transfer Credit Cards
As of Jun. 18, 2024
Wells Fargo Reflect® Card | Citi® Diamond Preferred® Card | Discover it® Chrome |
Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.25 out of 5 stars. 4.25/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
Read Full Review | Read Full Review | Read Full Review |
Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) | Credit Rating Requirement:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Recommended Credit Score required for this offer is: Good/Excellent (670-850) Poor Fair Good Excellent 300-579 580-669 670-739 740-850 Good/Excellent (670-850) |
Welcome Offer: N/A | Welcome Offer: N/A | Welcome Offer:N/A Discover will match all the cash back you’ve earned at the end of your first year. |
Rewards Program: N/A | Rewards Program: N/A | Rewards Program:2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically 1% - 2% Cashback |
Intro APR:0% intro APR for 21 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 21 months from account opening Balance Transfers: 0% intro APR, 21 months from account opening on qualifying balance transfers | Intro APR: Purchases: 0%, 12 months Balance Transfers: 0%, 21 months | Intro APR: Purchases: 0%, 6 months Balance Transfers: 0%, 18 months |
Regular APR: 18.24%, 24.74%, or 29.99% Variable APR | Regular APR: 18.24% - 28.99% (Variable) | Regular APR: 18.24% - 28.24% Variable APR |
Annual Fee:N/A $0 | Annual Fee: $0 | Annual Fee: $0 |
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Final thoughts
There's no one-size-fits-all recommendation for how many credit cards you should have. A good rule of thumb is one or two credit cards, because you can take advantage of credit card benefits without having too many cards to manage.
It's also perfectly fine to get more cards than that, and plenty of consumers have done this successfully. The key is to take it slow and to follow smart spending habits no matter how many credit cards you have.
Still have questions?
Here are some other questions we've answered:
- How Do Credit Cards Work?
- Is Applying For Multiple Credit Cards At Once a Good Idea?
- How Can I Choose the Right Credit Card?
- Does Maxing Out a Credit Card Hurt Your Credit Score?
Need a loan? Check out The Ascent's guide on how to apply for a personal loan.
FAQs
The typical consumer should have one or two credit cards. If you've been using credit for less than a year, then you should have one credit card. After at least a year of experience managing credit, you can think about adding a new credit card.
Once you have excellent credit, you can be more flexible about the number of credit cards you carry. You don't need to limit yourself to a certain number, although you should always be cautious about opening more cards than you can handle.
The average American has one or two credit cards, according to a study by The Motley Fool Ascent. Just over a quarter of Americans have three or more credit cards.
Your number of credit cards isn't a credit scoring criteria, but it can have an indirect impact on your credit score. You need at least one credit account to build your credit history. If you have a variety of credit accounts, it's easier for credit scoring models to calculate a score for you. But opening credit cards too frequently can have a small negative effect on your credit.
Keep in mind that the most important factors in your credit score are your payment history and credit utilization (how much of your credit you use). If you always pay on time and have a credit utilization below 30%, that alone can help you build and maintain a high credit score.