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How Many Credit Cards Should I Have?

Updated
Lyle Daly
By: Lyle Daly

Our Credit Cards Expert

Eric McWhinnie
Check IconFact Checked Eric McWhinnie
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

If you've used credit cards at all, then you've probably also asked yourself "how many credit cards should I have?" It's one of the most common credit card questions and depending on who you ask, you can get a huge range of answers. Some people want nothing to do with credit cards, while others have dozens of them.

As you might expect, the answer usually lies somewhere in between those two extremes.

Why you need at least one credit card

Most consumers should have one or two credit cards. There are a few reasons why you should have at least one credit card:

  • It's the most secure payment method. A credit card isn't connected to your bank accounts and it's easy to replace if you lose it. For those reasons, it's a more secure way to pay than a debit card or cash.
  • It can help you build credit. By paying your credit card bill on time and not using more than 30% of your credit limit, you can attain a high credit score.
  • You can earn rewards on your purchases. Rewards credit cards earn cash back or travel rewards points on purchases, allowing you to get something back from the money you spend.

If you can manage two credit cards, then it makes sense to add a second card to your wallet. You'll have a backup credit card in case you lose one and need to wait for a replacement in the mail. You can earn more rewards by combining credit cards. And if you started with an American Express or a Discover card, you can add a Visa or a Mastercard. Those are more widely accepted outside the United States.

One or two credit cards isn't a lot, but most people are better off being conservative. The more credit cards you have, the higher your risk is of missing a payment or overspending and going into credit card debt.

The right number of credit cards also depends on your needs and your credit score. Here's how many credit cards you should have based on more specific financial situations.

How many credit cards should I have if I'm new to using credit?

When you're new to credit, stick to one credit card for at least a year. Your focus should be building your credit, and opening new cards can slow down that process, as each credit card application can lower your credit score by a small amount. Carrying multiple credit cards can also cause you to spend more than you should, especially when you don't have much experience managing credit.

There aren't any big advantages to opening a new credit card at this point, because you probably won't qualify for the most lucrative credit card offers yet.

Wait until you've been using a credit card for a year or two, or until you've achieved at least a good credit score, before you consider applying for a second card. Good credit refers to a credit score of 670 or higher.

Starter credit cards

It can be overwhelming to pick out your first credit card. When you're choosing a credit card for the first time, a few questions to keep in mind include:

  • Does this card report to all three credit bureaus? (that's how you build a credit score)
  • What are the fees for this credit card? (a first credit card should ideally have no annual fee)
  • Does this card offer credit score monitoring? (usually: monthly access to your score and tips on building credit)

Below are some of our favorite starter credit cards. For the full list, head over to:

As of Nov. 27, 2023
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Discover it® Student Cash Back

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Capital One Platinum Secured Credit Card
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
= Fair
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Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)

Fair/New to Credit Under(669)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)

Fair/New to Credit Under(669)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)

Fair/New to Credit Under(669)

Welcome Offer: Circle with letter I in it. N/A

Discover will match all the cash back you’ve earned at the end of your first year.

Welcome Offer:

Welcome Offer: Circle with letter I in it. N/A

N/A

Rewards Program: Circle with letter I in it. 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically

1% - 5% Cashback

Rewards Program:

Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants.

Rewards Program:

Intro APR:

Purchases: 0%, 6 months

Balance Transfers: 10.99%, 6 months

Intro APR:

Purchases: —

Balance Transfers: —

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Regular APR:

18.24% - 27.24% Variable APR

Regular APR:

18.24 - 32.24% Variable

Regular APR:

30.74% (Variable)

Annual Fee:

$0

Annual Fee:

Annual Fee:

$0

Highlights:

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
  • Redeem your rewards for cash at any time.
  • No credit score required to apply.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee and build your credit with responsible use.
  • 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
  • Terms and conditions apply.

Highlights:

  • No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
  • Variable APRs range from 18.24% - 32.24%
  • Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
  • 1% cash back on eligible purchases right away
  • 2% - 10% cash back at select merchants
  • $300 - $10,000 credit limits
  • No credit score? No problem. If eligible, we'll create your Cash Score instead.
  • See if you're pre-approved within minutes without impacting your credit score.
  • Build credit alongside hundreds of thousands of Petal card members.
  • Petal reports to all 3 major credit bureaus.
  • No deposits required
  • Card issued by WebBank

Highlights:

  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
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How many credit cards should I have if I'm rebuilding credit?

You should only have one credit card while you rebuild your credit. Since previous mistakes have damaged your credit score, you should also be cautious about getting a new credit card, even after you've improved your credit. You don't want to fall into the same patterns and have the same problems.

That doesn't mean you need to go your whole life with a single credit card. But before you open another credit card account, make sure you've been practicing smart credit habits for at least two to three years. That means you only charge what you can afford, you stick to a budget, and you always pay your credit card bill in full.

Credit cards for bad credit

When you're on the hunt for a credit card to rebuild your credit, the choices can feel overwhelming. We've reviewed a lot of bad credit credit cards, and these are some of our favorites. For the full list of bad credit credit cards, head over to:

As of Nov. 27, 2023
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Discover it® Secured Credit Card

Petal® 1 "No Annual Fee" Visa® Credit Card

Capital One Quicksilver Secured Cash Rewards Credit Card
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: New/Rebuilding Under(579)

New/Rebuilding Under(579)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Fair (300-669)

Fair (300-669)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: New/Rebuilding Under(579)

New/Rebuilding Under(579)

Welcome Offer:

Discover will match all the cash back you’ve earned at the end of your first year.

Welcome Offer:

Welcome Offer: Circle with letter I in it. N/A

N/A

Rewards Program: Circle with letter I in it. 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically

1% - 2% Cashback

Rewards Program:

2% - 10% cash back at select merchants

Rewards Program: Circle with letter I in it. Earn unlimited 1.5% cash back on every purchase, every day. Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply.

1.5%-5% cash back

Intro APR:

Purchases: n/a

Balance Transfers: 10.99%, 6 months

Intro APR:

Purchases: —

Balance Transfers: —

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Regular APR:

28.24% Variable APR

Regular APR:

25.24 - 34.74% Variable

Regular APR:

30.74% (Variable)

Annual Fee:

$0

Annual Fee:

Annual Fee:

$0

Highlights:

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.

Highlights:

  • $0 Annual Fee
  • Variable APRs range from 25.24% - 34.74%
  • $300 - $5,000 credit limits
  • Earn a credit limit increase in as little as 6 months. Terms and conditions apply.
  • No credit score? No problem. If eligible, we'll create your Cash Score instead.
  • 2% - 10% cash back at select merchants
  • See if you're pre-approved within minutes without impacting your credit score.
  • No annual or foreign transaction fees.
  • Build credit alongside hundreds of thousands of Petal card members.
  • Petal's mobile app makes it easy to manage your money, track your spending, and automate payments.
  • Petal reports to all 3 major credit bureaus
  • No deposits required
  • Card issued by WebBank

Highlights:

  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
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How many credit cards should I have if I want to maximize rewards?

To maximize your credit card rewards, you should carry at least two to three credit cards. Here's why:

  • To earn more purchase rewards: With multiple credit cards, you can choose the card that will earn you the most back on purchases. For example, you could use a card that earns 3% on dining when you go out to eat, one that earns 2% at gas stations when you fill up your car, and a card that earns a flat rate of 1.5% for your other purchases.
  • To get more bonuses: The fastest way to earn rewards is through sign-up bonuses. By opening more cards, you'll have more bonus opportunities.

Some people appreciate having an assortment of cards with rewards for almost every situation. If you're interested in this strategy, check out some of our favorite rewards cards here:

Credit card rewards cards

Maximizing your rewards means carrying an assortment of rewards cards. Below are a few of our all-time favorite rewards cards, but if you want more, check out our full list:

As of Nov. 27, 2023
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Wells Fargo Active Cash® Card Chase Sapphire Preferred® Card Chase Freedom Flex℠
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Apply Now for Chase Freedom Flex℠

On Chase's Secure Website.

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer: Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

$200 cash rewards

Welcome Offer: Circle with letter I in it. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

60,000 bonus points

Welcome Offer: Circle with letter I in it. Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!

$200 bonus

Rewards Program: Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

2% cash rewards

Rewards Program: Circle with letter I in it. Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.

5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases

Rewards Program: Circle with letter I in it. 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.

5% cash back offer

Intro APR: Circle with letter I in it. 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 15 months from account opening

Balance Transfers: 0% intro APR, 15 months from account opening on qualifying balance transfers

Intro APR: Circle with letter I in it. N/A

Purchases: N/A

Balance Transfers: N/A

Intro APR:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular APR:

20.24%, 25.24%, or 29.99% Variable APR

Regular APR:

21.49%-28.49% Variable

Regular APR:

20.49%-29.24% Variable

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee: Circle with letter I in it. N/A

$95

Annual Fee:

$0

Highlights:

  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don’t expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

Highlights:

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
  • Member FDIC

Highlights:

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
  • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom FlexSM card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
  • Member FDIC
Apply Now for Chase Freedom Flex℠

On Chase's Secure Website.

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How many credit cards should I have if I have excellent credit?

Once you've gotten an excellent credit score, you should strongly consider having at least two credit cards. There's also no firm upper limit on how many credit cards you should have.

Your credit is good enough to qualify for the best credit cards from any card issuer, so it makes sense to carry at least two strong cards that complement each other well. That could be two cards in the same rewards program with different bonus categories, a cash back card and a card with travel perks, or any other combination that suits your spending.

As long as you continue to manage your credit well, you don't need to worry about having too many credit cards. Some consumers have dozens of cards and get value from all of them. It's simply a matter of what works for you. Just make sure that if a card has an annual fee, its benefits are worth more than what you're paying for it.

Credit cards for excellent credit

Once you have excellent credit, you can snag that top-tier card of your wildest dreams. (Probably, unless you're dreaming of one of those exclusive invite-only cards. That's another story.) If you want some help deciding, we've listed some of our favorites below. You can get our full list of recommended excellent credit credit cards here:

As of Nov. 27, 2023
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Chase Sapphire Reserve® The Platinum Card® from American Express Bank of America® Premium Rewards® credit card
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Apply Now for Chase Sapphire Reserve®

On Chase's Secure Website.

Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer: Circle with letter I in it. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

60,000 bonus points

Welcome Offer: Circle with letter I in it. Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.

80,000

Welcome Offer: Circle with letter I in it. 60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening

60,000 points

Rewards Program: Circle with letter I in it. Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

5x points on flights and 10x points on hotels and car rentals through Chase Travel℠.

Rewards Program: Circle with letter I in it. Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply.

1X-5X Membership Rewards® Points

Rewards Program: Circle with letter I in it. 2 points per dollar on travel & dining purchases, unlimited 1.5 points per dollar on all other purchases, 25%-75% more points for Bank of America Preferred Rewards members

1.5 - 2 points per dollar

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Intro APR:

Purchases: n/a

Balance Transfers: n/a

Intro APR: Circle with letter I in it. N/A

Purchases: N/A

Balance Transfers: N/A

Regular APR:

22.49%-29.49% Variable

Regular APR:

See Pay Over Time APR

Regular APR:

20.24% - 27.24% (Variable)

Annual Fee: Circle with letter I in it. N/A

$550

Annual Fee:

$695

Annual Fee:

$95

Highlights:

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
  • Member FDIC

Highlights:

  • Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
  • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
  • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
  • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
  • $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
  • $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
  • $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
  • Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
  • Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
  • $695 annual fee.
  • Terms Apply.

Highlights:

  • Receive 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases. No limit to the points you can earn and your points don't expire as long as your account remains open.
  • If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center.
  • Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years.
  • Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays and lost luggage.
  • No foreign transaction fees.
  • Low $95 annual fee.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Apply Now for Chase Sapphire Reserve®

On Chase's Secure Website.

Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

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Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip delay and cancellation insurance and cell phone protection underwritten by New Hampshire Insurance Company, an AIG Company. Extended warranty, purchase protection, car rental insurance, and baggage insurance underwritten by AMEX Assurance Company.

How many credit cards should I have if I'm retired?

You should have at least one credit card when you're retired, and you can also have more if you want and you have good to excellent credit.

What's more important when you retire is to adjust your spending habits. You can keep all your credit cards open and apply for more if you'd like, but you should put together a budget that reflects your new income. Most people see their incomes decrease after retirement. If you don't adjust your spending accordingly, you could end up with credit card debt.

How many credit cards should I have if I'm in debt?

If you're in debt, you should have one credit card at most that you use regularly, and that should be for essential expenses only. It's best to avoid opening new credit cards, although there is one exception: You could get a card with a 0% intro APR on balance transfers to refinance credit card debt at a much lower interest rate. Note that to qualify for a balance transfer card, you will likely need good to excellent credit.

LEARN MORE: How Balance Transfers Work

You don't need to cancel any other credit cards you have. In fact, that may not be a good idea. Canceling credit cards will reduce your available credit, because you lose the credit limit of each card you cancel. This can increase your credit utilization ratio and hurt your credit score. For that reason, it's better to store your unused cards somewhere and avoid using them.

Balance transfer credit cards

When you're looking for a balance transfer credit card, there are a couple of important considerations:

  • Length of the 0% intro APR: It's best if you can find a card that will allow you to pay off all your debt within the intro period. If not, go with the longest 0% intro APR you can find.
  • Balance transfer fee: The standard balance transfer fee amount is 3% to 5%. This can make a big difference, especially if you have quite a bit of credit card debt to transfer over.

Below are some of our favorites. For our complete list of top balance transfer credit cards, head to our list:

As of Nov. 27, 2023
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Wells Fargo Reflect® Card Citi® Diamond Preferred® Card Discover it® Balance Transfer
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer:

Welcome Offer:

Welcome Offer: Circle with letter I in it. N/A

Discover will match all the cash back you’ve earned at the end of your first year.

Rewards Program:

N/A

Rewards Program:

N/A

Rewards Program: Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.

1%-5% cash back

Intro APR: Circle with letter I in it. 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 21 months from account opening

Balance Transfers: 0% intro APR, 21 months from account opening on qualifying balance transfers

Intro APR:

Purchases: 0%, 12 months

Balance Transfers: 0%, 21 months

Intro APR:

Purchases: 0%, 6 months

Balance Transfers: 0%, 18 months

Regular APR:

18.24%, 24.74%, or 29.99% Variable APR

Regular APR:

18.24% - 28.99% (Variable)

Regular APR:

17.24% - 28.24% Variable APR

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee:

$0

Annual Fee:

$0

Highlights:

  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
  • $0 Annual Fee.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.

Highlights:

  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • No Annual Fee - our low intro rates and all the benefits don’t come with a yearly charge.

Highlights:

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
  • Redeem your rewards for cash at any time.
  • Your account may not always be eligible for balance transfers. Balance transfer eligibility is determined at Discover’s discretion.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee.
  • Terms and conditions apply.
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Final thoughts

There's no one-size-fits-all recommendation for how many credit cards you should have. A good rule of thumb is one or two credit cards, because you can take advantage of credit card benefits without having too many cards to manage.

It's also perfectly fine to get more cards than that, and plenty of consumers have done this successfully. The key is to take it slow and to follow smart spending habits no matter how many credit cards you have.

FAQs

  • The typical consumer should have one or two credit cards. If you've been using credit for less than a year, then you should have one credit card. After at least a year of experience managing credit, you can think about adding a new credit card.

    Once you have excellent credit, you can be more flexible about the number of credit cards you carry. You don't need to limit yourself to a certain number, although you should always be cautious about opening more cards than you can handle.

  • The average American has one or two credit cards, according to a study by The Motley Fool Ascent. Just over a quarter of Americans have three or more credit cards.

  • Your number of credit cards isn't a credit scoring criteria, but it can have an indirect impact on your credit score. You need at least one credit account to build your credit history. If you have a variety of credit accounts, it's easier for credit scoring models to calculate a score for you. But opening credit cards too frequently can have a small negative effect on your credit.

    Keep in mind that the most important factors in your credit score are your payment history and credit utilization (how much of your credit you use). If you always pay on time and have a credit utilization below 30%, that alone can help you build and maintain a high credit score.

Our Credit Cards Experts