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What is the right number of credit cards to have?
#1
This is something that is debated all the time. I personally think one or two major credit cards with a fairly low interest rate and a gas card  are the right number of cards to have. Too many cards is a problem. It is too easy to charge things rather than pay cash. What do you think  is the right number of cards to have?
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#2
I think 2 is enough because when you have many credit you have a many debt accounts and many charges you have so i recommend to use that few credit cards few debts to stay away to bankrupt and to avoid many interest and other fees that will charge.
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#3
I have just one and it is simply because I don't see the need to have more than that at the moment. The number of credit cards that should be owned by people should be dependent on how many issues they always have to settle and how they spend for that is going to be an awesome way to keep things going at the end of the day.
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#4
As long as they can manage them, I think having multiple cards is Ok, but that is a big if. It is just one of the things that individuals need to decide for themselves. It is just one of the choices that is put before you on a regular basis.
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#5
The number of credit cards you have may affect your credit.

There isn’t a magic number of credit cards you should have, although having at least one card may be a good idea if you want to build credit.
Generally, how you use the cards is more important than how many credit card accounts you have open.

Factors like your credit utilization rate (the percentage of your available credit that you use) and your payment history tend to have a more significant effect on your credit scores.
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#6
Yes, I think this is true. There is some magic number like you should only be using one third of your available credit or something ike that that allows you to have a better credit rating. It is important to try to keep your usage of the card low, or at least reasonably low levels.
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#7
It depends on your income. If you have lots of money I'm sure you can afford to have different credit cards but if you're just an ordinary people having a minimum salary I think one credit card or two is enough. Some businessmen have multiple credit cards because they like having a privilege using many credits card and claiming rewards from it. There's nothing wrong having multiple credit cards as long as you're responsible using it and have the capabilities paying your bills.
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#8
If you’re a responsible credit card user and you pay off your balances in full and on time each month, having multiple cards can be a good strategy for a few different reasons. You could reap more rewards, for example. You could boost your credit score, as well, because we already know that using multiple credit cards could positively impact your FICO score by helping improve your debt-to-credit utilization ratio.

So, I guess the right number of credit cards to own depends on what your goals are and how responsible you are of managing your finances
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#9
(01-28-2018, 01:53 PM)kgord Wrote: This is something that is debated all the time. I personally think one or two major credit cards with a fairly low interest rate and a gas card  are the right number of cards to have. Too many cards is a problem. It is too easy to charge things rather than pay cash. What do you think  is the right number of cards to have?

If you are cash worthy, why look for possible opportunities to get into credit cards stories and issues? Yes, I totally agree it's good to have a credit card for emergency reasons and one or highest 2 credit card is enough to save one of any emergencies but deciding on getting more than 2 credit cards is completely out of the line from my personal opinion. It's not worth it seriously, dealing on cash transactions is is way better and more relaxing than making use of credit cards.
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#10
I have no issue maintaining more than one credit card if I'm responsible for my spending and pay my bills in full each month. There are certain benefits of using multiple credit cards like greater reward points, higher credit score and better debt utilization.
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