How many credit cards should you have?

[LS2982]

I have 12 currently and i rotate usage by letting some report balances PIF after and continue with the others.

[drkaje]

I have 7 and hate it.

Once everyone's paid off, heads are gonna roll. BCP is the only card I'm fully committed to keeping.

[Quips]

I have 10 and use 4-5 most of the time depending on rewards cycle. the others are used only at the store (i.e Macy's) or hotel (Marriott VISA) where it makes the most sense to use it (extra rewards, additional discount etc) but are in the SD otherwise. I agree that it doesn't matter how many or how few you have, only how you manage them. I use them for a) rewards, b) to maximize cash flow (0% apr, delay paying for large expenses etc) and c) convenience - use my AMex to pay everything (Direct TV, insurance, Verizon etc)  I can so that I only have 1 payment  a month vs many. 

[Anonymous]

The most Ive ever had at one time was 5 and that was about 7 years ago. 3 store cards, 2 every day use cards. Now I am in rebuilding mode, I dont want any more than 3 at one time. Its not as much the number of cards as the CL given.

[FrugalRican]

I have 5, want to get down to 4, but really would rather have just 3.

I seriously don't see how people manage anything over unless their income is pretty up there.

[Anonymous]

I have 11 cards going on 12 pending a NFCU  app.   I've been managing my first card (AMEX) since 1997.  I received the card when I was 18.  

[visorboy1974]

I have 6 major CCs right now and find it difficult to use all of them.  Definitely not looking to expand.  

[thrasher865]

I have 12 cards.  I wouldn't mind having more, but I don't need anything else.  

I have PenFed for gas and groceries, Discover and Freedom for their 5% bonus categories, BofA if I need to carry a balance, CC with my bank for overdraft protection, one AMEX for travel or purchases I want to keep separate, and AMEX HHonors for business travel I will need to expense.  Then I have various store cards that I shop with frequently: Home Depot, HHGregg, Big Lots, R2G, etc.

[GST2008]

I have seven, but really only use one frequently.  I could easily handle an additional seven, but don't see the point in it (at least for me).  I prefer all my rewards to go to accumulate on one card (Business AMEX), this way I can use the MR points for larger rewards rather than having $10 on one card, $5 on another, etc.  

[800ficogirl]

Really good article!  I agree, there is no magic number..,  have as many as you can manage... personally, that number is 4;  with an ideal utilization of about 7% combined.  I think if more people talked about their credit it wouldnt be this mystery scary thing to so many people. Good Credit is something we All need and use..  Remember, you dont have to be in Debt to have Credit...   its all about being responsible and like Suze Orman says... "standing in your truth" :-)