Most adults that I know have multiple credit cards that they use for different purchases or as budgeting tools, but how many credit cards would you consider to be “too many”?

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Posted by Emily Morgan (MONEY FORUMS: 4, Answers: 3)
Asked on March 9, 2016 1:18 pm
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In some research that I did for a guide on credit scores, Experian (a credit bureau) found that adults with fewer than four open credit cards tended to have higher credit scores than those who had more.

I can barely handle one credit card, so I think two is too many for me. I have a travel hacking friend who usually has 8-12 open at one time. I would say that most people should have the following:
Their oldest line of credit (for credit scoring purposes)
Either a rewards card or a 0% APR card for regular spending (only use rewards card if you pay off the balance in full each month)
A second rewards card for maximizing rewards.

Obviously, if you’re carrying a balance, you should be using your 0%APR card. If not, you may want more than one rewards card, but I would start out very cautious.

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Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: March 11, 2016 10:09 am