Technically, there is no limit to how many credit cards you can have. There’s no law or financial regulation that says any number is “too much.”
But, you’re likely gonna wanna limit yourself to a handful of cards.
Think of it like juggling. If you have just two or three balls in the air, it’s easier to keep track of them.
Now, imagine juggling five, six, or even more balls (aka credit cards with different payment due dates, balances, rewards, and fees).
It gets trickier, right? Each credit card makes it more complicated to manage and track your money. You need to make sure you’re using the cards wisely, paying them off on time to avoid debt, and not hurting your credit score by having too high of a balance on any or all of them.
And even if you want to keep getting cards, your bank may not let you. Each credit card company decides how much credit they’re comfortable giving you. For example, if you already have three cards from the same bank with a total limit of $20,000, and you ask for another card (maybe it has better rewards and perks), they might say no because their policy limits you to a $20,000 credit limit total.
So, while having multiple cards can have benefits, like maximizing rewards and building a strong credit history, you need to know your limits and not stretch your budget too thin. It’s about finding that sweet spot where you can enjoy the rewards without letting the balances or the number of cards get out of control.
It’s not about how many cards you have, but how well you manage them that counts.
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