How Many Credit Cards Should I Have?

Are you also getting puzzled about how many credit cards should you have? Then we will suggest you carry 2 credit cards at least. The reason behind this number is one is for the different networks (Visa, American Express, and MasterCard) and another one is a different kind of reward (miles, cashback, and reward points). In this context, Ethan Dornhelm opines that “Generally speaking, there is no one perfect number”.

How many credit cards can I have ?

Fore mostly, this number depends upon the way of thinking of different generations, and thereby America has 3.1 credit cards in 2017. However, we are going to discuss various aspects of credit card holding and its different impacts on credit.

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A Brief Information About Credit Card:

Do you first time trying a credit card? Then you should have some basic idea about it, whether you need to apply and use just one credit card as a trial to build credit.

Although it might not be a reward credit card, simply if you can achieve it then try for it. It may lead you to a secured credit card, but if you are able to retain good credit points then you can qualify for most cards on the market.

Steps to Process a Credit Card:

  • In a wide range of variety of credit cards, you have to check first whether you are already qualified for any cards or not.
  • If you have your first credit cards then you need to take a couple of months to get comfortable with that newly approved card.
  • Do you know why we suggest you take a little time with your first card? This is because you need to learn how these cards work and understand how you can consistently do the payment on time.
  • When you get sufficient knowledge about it then you can go for more credit card collection.

We have suggested you carry two credit cards because-

  • It is convenient in payment and you can have protections, rewards, and benefits.
  • It also reflects upon your credit score which may further help you in various aspects.

Positive Effects on Credit Credit:

Positive Effects on Credit Credit

Are you thinking it is better to do not to carry any credit card? Then, we can say you are completely wrong. It is really effective on your credit report to have at least one credit card than having no cards. Not only that! We can show you more specific reasons behind this statement-

  • Effective for Account Variety

In terms of comparison with installment loan accounts, credit cards are considered a revolving account. You need to keep this variety for your credit.

  • Revolving Credit Utilization can be seen

Low credit utilization will be seen for a revolving credit line, which reflects higher credit scores. It depends upon your account balance because it will remain as long as it makes your balance low.

  • Solid Payment History

You can have extra features as you can additionally record your money transaction on the virtual wallet. This on-time payment record will develop your score and moreover, it will also be able to adjust any late payments.

  • Average length accounts improved

Although a freshly arrived card will eventually decrease the average age of accounts, gradually it will help to raise the average length of account.

Negative Effects on Credit:

As we know there are always two sides to a coin and this time it also no difference. You can assume that there must have any negative side to carrying credit cards. However, you are right but partially the positivity is much more effective on the credit account. One thing for sure we can assure, if you are applying for one card then the negative effects are really ignorable. Hence, let’s check out the negative impacts of the credit card on credit-

  • A Hard Inquiry:

Always remember one thing, whenever will apply for a new credit card, a hard inquiry will affect your credit reports. This is because there must have a negative effect on every hard inquiry.

  • More new Credit:

If you go for more and more new credit accounts then it will definitely decrease your credit scores. Although, it is a temporary event, and in the FICO score sheet ‘new credit’ consists of very little space-only 10%.

  • Decreases Average age of Accounts:

This is also needed to remember that as many times you open any new account, it will reduce your average age of accounts. This is not the end! This effect will be gradually lessened and another factor is average age which consists of only a 15% score in the FICO score sheet.

Good Reasons to Get More Credit Cards:

Do you know how to get more credit cards? If you don’t then let me share with you there are multiple reasons to achieve more credit cards. We have included some beneficial reasons for this purpose-


We can see retailers don’t accept credit cards all the time while it opens up alternative credit cards. In times of emergency, you need to have a handy method for payment that required more credit cards.

If you have any plans to travel to foreign countries then you will definitely carry more credit cards because they will accept in more places. Moreover, a business credit card is really necessary because it helps to separately manage your personal expenses.


It is important to have at least one credit card for emergencies, but it is also important to have multiple credit cards to take advantage of the different rewards programs that are available.

By having multiple credit cards, you can maximize your rewards and get the most value for your money. So, how many credit cards should you have? As many as you can use to maximize your rewards.

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