There’s no perfect answer to how many credit cards you should have. In general, if you’re looking to build good credit, it’s a good idea to have at least one or two credit cards.

According to a 2019 report from Experian, the average American has four credit cards with an average credit card balance of nearly $6,200. Another recent study from FICO found that consumers with a credit score above 800 had an average of three cards.

Four credit cards

Why Do I Need Multiple Credit Cards?

If you already have one credit card that you diligently pay every month, you may be wondering why you would want or need to apply for more.

While you should never apply for more credit cards than you can handle, there are some strategic benefits to having a few different credit cards.

  • Different networks ensure you’re covered with all merchants. If you have a credit card from each of the major networks —…

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