Why I Open at Least 1 New Credit Card Every Year

Opening lots of credit cards usually isn't recommended. It gives you more accounts to manage, and there's always the risk of slipping into credit card debt if you're not careful. Most Americans keep just one or two cards in their wallet.

I don't.

I open at least one new credit card every year -- and I've been doing it for a long time. I'm firmly in the small group of people who carry several cards, and I keep adding new ones because, for me, it's been a reliable way to save money and unlock extra perks.

This isn't something I'd suggest to everyone. But if you're comfortable staying organized and paying your statement balance in full every month, opening the occasional new card can come with some big advantages.

Welcome bonuses worth $300 to $1,000+

The biggest reason I keep opening new credit cards is earning welcome bonuses. Many cards offer either cash back, miles, or points for opening a new card and spending a certain amount within a few months.

Here's how I look at it: I'm already spending money on normal expenses like groceries, shopping, kids activities, and everyday life. If I can put that same spending through a new card and earn a bonus along the way, why wouldn't I?

The key rule is the spending has to fit your normal budget. If a card requires $4,000 in spending within 90 days and you'd need to stretch or overspend to get there, skip it. The bonus isn't worth it if you have to inflate your spending.

Personally, I lean heavily toward travel credit cards. Between points and miles from welcome offers alone, I typically earn well over $1,000 a year on flights and hotels. But cash back cards can be just as powerful if you prefer simplicity.

See today's best sign-up bonus offers and find one that fits your normal spending.

Getting a wider range of benefits and perks

Different cards are good at different things. That's why having more than one (and adding new ones over time) really pays off. I've been able to stack benefits that make travel easier and everyday spending more rewarding.

One card can cover airport lounge access and reimburses my Global Entry or TSA PreCheck® fee. That means shorter security lines and a much calmer airport experience. Another card gives hotel perks like free night certificates and elite status, which gets me room upgrades and free breakfasts I'd otherwise pay for.

Even if you're not into travel, having more than one card can still make sense. You might start with a card that earns extra cash back on groceries and gas. Later, you add one that earns more on dining.

The trick is to make sure you're not taking on too many annual fees. Whenever I've got old cards that no longer pull their weight, I either downgrade them or cancel the account.

How many credit cards is too many?

This is usually the follow-up question when I tell people I open new credit cards regularly. And it's a fair one.

You'll often hear about the 5/24 rule, which is an unofficial guideline in the credit card world (specifically when referring to Chase cards). It basically recommends you shouldn't open more than five new credit cards within a 24-month period.

And I'm nowhere near that limit.

My approach is intentionally slow. I usually open one new card per year, and occasionally two if there's a truly standout offer that fits my normal spending. At that pace, I stay well under 5/24, my credit score stays strong, and I've never run into any major issues managing the cards.

Spacing applications out also gives my credit profile time to smooth out. Any small, temporary dip from a new application tends to recover quickly after a few months. Same when I cancel a card or decrease my overall credit limit.

Choosing the right card matters more than quantity

I'm not trying to collect 100 credit cards just for giggles. I only open new ones that give me big rewards and fit my existing spending.

A single well-chosen card at the right time can earn me easily $1,000+ in a year across the welcome bonus and ongoing rewards.

If you're curious what's working right now, check out today's top rewards credit cards and see which ones actually fit your spending and lifestyle.