How Many Credit Cards Should You Have? Experts Weigh In

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The majority of Americans own either two (29.3%) or one (28.6%) credit card(s), a recent GOBankingRates survey found — but how many credit cards is the ideal number?

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Learn: The Top Purchases You Should Always Make With a Credit Card

According to experts, there is no one-size-fits-all answer, but there are some general rules of thumb.

If You Are Building Your Credit Back Up, Stick To One

Lyle David Solomon, a bankruptcy attorney at Oak View Law Group, recommends that his clients cut back on their credit card use when they are recovering from a major blow to their credit score, such as a bankruptcy filing.

Discover: 5 Reasons Why You Need a Credit Card
See: Why It’s Still Better To Use Your Credit Card Over Your Debit Card

“Generally, when people are just getting out of bankruptcy, I recommend that people only have one card and use it sparingly,” he said. “Make small purchases here and there, under $100, and pay it off in full right away to build up a credit history.”

However, if the reason you had to file bankruptcy was due to credit card debt and you do not trust yourself to spend responsibly, it could be best to forgo having a credit card altogether.

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Check Out: 90-Second Moves To Raise Your Credit Score 200 Points

“Some people can’t even have one and need to stick with a debit card,” Solomon said.

Generally, Three to Four Cards Is a Good Number

“For most people, I feel three to four [credit cards] is appropriate,” Solomon said. “It is good to have a daily use card with a good rewards program. If you travel frequently, an airline miles card or hotel rewards card is also beneficial. Also, there are still some places that only take one type of card. It is good to have a mix of Visa, Mastercard and American Express for different situations. When making a large purchase of electronics, it is nice to have the AMEX guarantees, as well as other benefits.”

Read More: This Easy Trick Will Improve Your Credit Score and Avoid Late Payments

Plus, different rewards cards have different benefits, so it’s best to have a mix for different types of purchases.

Read More: The Quickest Ways To Pay Off Your Credit Card Debt

“Having multiple cards in your wallet and using those cards on the types of purchases that earn you the most rewards can be a great way to maximize the value you get from your credit cards,” said Justin Zeidman, head of credit card products at Navy Federal Credit Union. “Responsible credit usage is paramount, but if you are in a financial place where you can manage more than one card, it can be very beneficial to have multiple cards in your wallet.”

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You Can Have More Than Four If You’re a Credit Card Pro

If you’re in good financial standing and want to reap the most credit card rewards possible, you may want to have even more than four cards.

Options: 10 Credit Cards To Consider for Travel Rewards

“The ideal number of cards is unique to the individual,” Solomon said. “I know one person with 27 credit cards, but she also has an 800-plus credit score, has a seven-figure income and travels constantly. She uses her cards to save herself well over $10,000 per year.”

Credit expert John Ulzheimer agrees that there is no maximum number of credit cards for a person with good spending habits.

See: What Happens When You Get Denied for a Credit Card — And What To Do Next

“For someone who is responsible about using their cards and never carries a balance, there is no number of cards that’s too many,” he told CNBC Select.

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Last updated: Oct. 22, 2021 

About the Author

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert. 

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