How many credit cards is too many?

[Allenafaith]

Regardless of the type, how many credit cards would make you stop and think that you have too many?

 

[Page]

I’d probably start to think I have too many if I had more than three or four credit cards, because it could become harder to manage payments and keep track of everything.

 

[Allenafaith]

I’d probably start to think I have too many if I had more than three or four credit cards, because it could become harder to manage payments and keep track of everything.

It definitely can, especially if you can't set up autopay due to finances.

 

[zappaDPJ]

In my case, more than one would be too many but I do change provider on quite a regular basis e.g. my current card gives me a small amount of cash back with every purchase.

 

[John]

Most people should have zero.

I’d say more than 5 is extreme.

 

[fantanoice]

1 is too many

 

[Felly]

I only have 5 and have pretty much capped it at that. I only use one regularly, and the rest I just use about once a year for a small purchase to maintain the line of credit and pay it right back off. I might use the ones I have through Best Buy and Old Navy more during the year just because I get better benefits with them (interest free financing for purchases over a certain amount at Best Buy is great lol), but otherwise, I just use the one that gives me cash back on all my purchases.

 

[Gizmo]

I can't even get one although I would like one with just a small limit but my credit score says no.

 

[TPerry]

I can't even get one although I would like one with just a small limit but my credit score says no.

Not that I recommend credit cards (we have transitioned over to a savings account with a second checking account with a debit card that can have savings transferred into it for purchases), but if your credit will not support a regular credit card you can always look at some of the secured credit cards. You have to refundable security deposit to obtain one, but they are generally easier to get for those with poor/no credit. It does take having the funds to put towards the security deposit though.
Of course, I live in the US, so secured cards are easy to find. If you don't live in the US, this may be an issue.

 

[Gizmo]

Not that I recommend credit cards (we have transitioned over to a savings account with a second checking account with a debit card that can have savings transferred into it for purchases), but if your credit will not support a regular credit card you can always look at some of the secured credit cards. You have to refundable security deposit to obtain one, but they are generally easier to get for those with poor/no credit. It does take having the funds to put towards the security deposit though.
Of course, I live in the US, so secured cards are easy to find. If you don't live in the US, this may be an issue.

I could do something like that possibly by putting a car as security but I don't drive.

 

[TPerry]

I could do something like that possibly by putting a car as security but I don't drive.

Generally they want you to send a cash security deposit that they keep on hand. At some future point (depends on the card details) they either refund it to you after a certain period.

 

[Ravenfreak]

Honestly I would say having 1 is good enough and I recommend using it only for gas and groceries. This way you know you can pay off your charges on time without having to go into debt. Plus most cards give some type of cash back rewards when you use a credit card for gas and groceries. Some even will give you cash back if you travel a lot too.

 

[CTS]

1 is too many

I agree, but you cant do much online without one.
I have one thru my credit union. And I just use it to pay for things and pay it off before the next billing cycle.

CC companies call people like me freeloaders, as I never pay a penny interest.

The rule should be, you should have as many credit cards that you can payoff in full every time you use it. Only.

If you carry a balance, then credit cards become a method to put you into slavery, as now you work to pay them, not to pay you.