What Number of Credit Cards Do I need

  There are a lot of different opinions out there on the number of credit cards each person should have.  I don't know if there is any one right answer on how many credit card applications you should fill out for the different credit cards.  The one important thing I believe is that even if you want two cards you do not want to fill out multiple credit card applications within a short period of time.  Even if the first one were approved, I would wait a couple of months before applying for another one.

 One of the benefits of having fewer credit cards are you are getting fewer bills at the end of the month.  You might end up with one bill that is the same size as two or three bills would have been but you are only going to have to make one payment.  There is less chance of you missing or being late with a bill payment.

  A disadvantage of having to many credit cards is if you are making all you payments on time, carrying a balance and are not over your limit is your credit limits might start to be increased.  This might sound like a good thing but it is how people start getting in credit trouble.  If you have two or three cards and they all start raising your credit limits, you can get over your head pretty quickly.

  But there are some advantages.  If you fill out credit card applications and end up with a Visa, MasterCard and American Express or any two of the three it will give you a lot more options when making purchases.  Some stores will only accept one or two of these cards.  You will have more options to what cards you want to carry balances with or make certain purchase.  Some cards give you better benefits when buying gas or purchase insurance and that sort of thing.

  I would suggest getting two credit cards from different issuers and preferably different types of cards.  Even if you keep one card for emergencies or only for the times the store will not accept your primary card.  But do not let both of the credit limits to be raised.  Keep your secondary card with a lower limit.  But make sure you do not fill out a lot of credit card applications at the same time; this might hurt in getting them approved.

For more information about other services and products choose from one of the following links:

About the Author:

If you need to give credit for your article do so here...