How many credit cards should I have?

Credit cards can help you build a healthy credit history if you manage them properly. You may also benefit from rewards like cash back or points to be used for travel or other things you enjoy. Given these factors, it’s no surprise that of U.S. consumers who plan to apply for new credit or refinance in the next year, 57% are planning to apply for a new credit card, according to data from the Q4 TransUnion Consumer Pulse Study.

You may be asking yourself, “how many credit cards should I have?” As with most personal finance or credit questions, there’s no one answer that applies to everyone. The right number for you depends on your habits, goals and credit history. However, these are some of the considerations to make:

Is it good to have multiple credit cards?

Credit cards tend to come with more fraud protection than debit cards. Having multiple credit cards can be useful if one is compromised or lost. If someone makes fraudulent purchases with your debit card, you may be liable for part of the charges. For example, if you lose your debit card or it’s stolen, you need to notify your bank within two days of the loss. If you don’t, you could be liable for up to $500, according to the Consumer Financial Protection Bureau. With a credit card, you’re only liable for up to $50, per the Fair Credit Billing Act.


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