The content is accurate at the time of publication and is subject to change.
A simple answer is there's no right number of credit cards to own. In fact, here's a spoiler: as many as you can manage. There's no restriction on the number of credit cards you can have. Your credit scores won't dip if you reach a certain number.
The number of cards varies by your unique financial needs, preferences, and your ability to pay. In some cases, it makes sense to have multiple credit cards. In others, having a single primary credit card that meets your needs is quite enough.
If you think that you have too many or too few credit cards, no worries, credit scores calculations do not factor in the number of cards you have. One important thing that counts (among other factors) is how well you manage your active credit cards. You may be able to handle 10 or even more credit cards: keep track of their benefits, be on time with monthly payments and fees without any problem. Having an array of credit cards with different perks could be incredibly lucrative.
However, if you have credit cards you do not use regularly for purchases, you are not comfortable paying credit card fees, or, even worse, you find it difficult to manage payment due dates and pay off your credit card balances monthly, then you may want to consider closing some of your credit cards.
Having multiple credit cards makes sense when you want to earn different rewards, want to have a diverse set of perks, want to pair several cards with one rewards program, or want to earn sign-up bonuses. All these are lucrative reasons, but it's important to note that multiple credit cards are good for people who have organized finances and always pay their card balances in full. Otherwise, you will lose on interest payments as interest rates are always higher than rewards rates.
Always consider costs first and if you see that you are overpaying, not benefiting from having multiple cards, or cannot manage your credit accounts, then you have too many credit cards.
