Credit Cards

Find The Right Credit Card For You!

How many credit cards is too many?
The magic number varies, but the advice for juggling them doesn't. Don't use too much of your available credit, and don't open or close too many at once.
Look through your wallet. How many credit cards do you count? Have promises of better rates, perks and lower fees caused your wallet to overflow and your mailbox to be stuffed with hundreds of offers each month? While most Americans carry between five and 10 credit cards, some people carry up to 50 -- which could wreak havoc on your credit score.
So, how many credit cards should you have?

Most experts say there's no single magic number. Rather, the question can be answered by scrutinizing how much you spend and how much you can pay off. But there is an upper limit: Credit agencies warn that the more cards you have, the bigger risk you carry for racking up debt and damaging your credit.
Beware of store credit cards. Some people go hog-wild at Christmas and open lots of store credit cards to get that 10% to 15% off their purchase. That's a good idea if you pay off the balance and close the card right away. If you don't, then you will be costing yourself more money in the long run when your credit score isn't up to par.
Finding the right credit cards can be a choice between a secured credit card, an unsecured credit card or even a student credit card. Then you have to apply for a credit card.