Credit Cards - How Many Should I have?

Our mail boxes are just overwhelmed with lots of credit card offers. Banks and credit companies intend to please every customer's taste. You are offered to apply for business credit cards, student credit cards, rewards credit cards, gasoline credit cards, etc. It doesn't really matter what credit history you have got. You will find a card that you are eligible to apply for anyways as there are plastics even for those with bad credit history.

With the help of all kinds of credit cards you are able to apply for different discounts, free flights, get your cash back cards, gasoline card deals and what not. Therefore, many cardholders are tempted to apply for new plastics even if they have already got good credit cards.

But what is the optimal number of credit cards that one should have? Does the very quantity of cards somehow influence cardholder's credit history or financial situation?

It is counted that most American citizens carry from one to up to ten cards in their pockets. It is also stated that every family in America owes the credit card companies on average about $12000. Please note that an average household totals some $50,000, which makes it clear that the debt itself is about 25% of an annual income. Moreover, it is all counted without mortgage or car loans. All in all it should sound rather alarming.

There should be one question answered. How many plastics are optimal to have in order not to get in any problems? Certainly, there is no exact answer. Usually two or three credit cards is considered to be enough. It is actually not the number of the credit cards but the outstanding balance that matters. It should be 25--50% of the credit available on any of your plastics. In case it is more than this percentage, be ready that potential creditors will just, most possibly, have no trust in you.

Moreover, take into consideration that the more credit cards you have got the more difficult it is for you to manage all of them. Keeping track of numerous cards might become a real torture for you. Just imagine that you have got 3 gasoline credit cards, 2 rewards cards and one student card at the same time. Isn't it tough to control the debt on all of them? At the same time, if you are a wise cardholder, you certainly will be aware of all the spending on all the cards. Then having several plastics is not a problem. But if you feel that you aren't that great at financial matters, you better don't try.

Personally I feel just fine with two plastics. I have got a student credit card and a point rewards credit card. I am still a student and it is essential for me to have a student credit card. As for point rewards card, I find it great because it provides me with lots of benefits.

I enjoy collecting and redeeming my points for the things I really need. It is always pleasant.

For myself I have made a conclusion that as long as I don't use way too many cards, my financial life is out of any troubles. As long as I feel that my plastics are working for me and not vice versa, I am happy and confident!