How Many Credit Cards Should You Own?

How Many Credit Cards Should You Own?


[Editorial note: The evaluations of financial products in this article are independently determined by Wirecutter and have not been reviewed, approved, or otherwise endorsed by any third party.]


A credit card fits a particular need, so each one should give you something specific (think cash back, 0% APR, or airline miles).

Still, credit card drift can be a problem. While there’s no credit score punishment for the number of cards you have in your wallet, you might have trouble simply keeping track of what each card is supposed to do. Perhaps you mix up which credit card charges an annual fee, or forget that you financed a coffee run on a normally unused card. And if you don’t pay your bill, fees and interest charges will add up over time and eat up any rewards you accumulated—plus, missing a payment can crush your credit scores.

Life is complicated already, so why not make your financial picture clearer? Read this guide to distill your credit card needs and figure out the right number of cards for you.

Source: NY Times – Wirecutter

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