It’s the million-dollar question: “How many credit cards should I have?” Unfortunately, there is no exact answer to this question. What may be good for you may not be good for someone else.
In many cases, having an excessive number of credit cards or any other type of account is not good. However, the opposite could be true as well. Having too few of certain types of accounts can also be bad for your credit scores. It’s best to open enough accounts so that you can function efficiently and leave it at that. Also, keep in mind that it’s more important how you’re managing the account and not necessarily how many of those accounts you have.
The reality is that you shouldn't worry about how many cards you have. How
many credit cards you have has a small bearing on your credit
scores; what you
should be focusing on are the areas that have the most impact to your
scores and how you are faring in those areas. Those are your payment history (late payments are very bad), your debt, and your credit/ shopping habits (including credit inquiries), which together account for 75 percent of your credit score.
Worry about properly managing the accounts that you currently have and your scores will be so high that you’ll always get the best deals that lenders and insurance companies have to offer. And then you’ll never have to worry about how many credit cards you have.
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