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LaToya Irby

Too Many Credit Cards?

By December 10, 2013

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If you have a credit card, or several, you might have wondered whether you have too many credit cards or even what's the right number of credit cards to have.

A man was once had a record number of 1,497 valid credit cards - and (by his own account) he had a near perfect credit score. I think it's safe to say that the average person shouldn't have dozens, much less hundreds of credit cards.

It's hard to come up with a "right" number of credit cards because different people have different financial situations. If you're having trouble managing your credit cards, e.g. you forget to pay the bills or you can't figure out which one to use when you're at the cash register, you may have too many.

What do you think? How many credit cards is too many?

December 11, 2007 at 3:44 pm
(1) Sandra says:

I was wondering… I have no debt at all right now. I use two different credit cards with rewards, and I pay them off every month. However, sometimes I get offers from credit cards with attractive features, such as the MyPoints or Amazon credit cards that give free gift certificates if I sign up.

I was wondering if signing up for these credit cards and using them rarely, or not at all, would hurt my credit rating, or if it would look good to have more cards with open credit.

Thanks for your help!

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