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Added July 16, 2010 from: Beverly Blair Harzog
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 Beverly Blair Harzog
Answered By Beverly Blair Harzog:   The average credit cardholder has 3.5 credit cards, but there's no magic number when it comes to how many you should have. Many people are concerned that their FICO score will suffer if they have multiple cards. But you don't need to worry about that. FICO scores do not take into consideration how many cards you have. In fact, if you pay your bills on time and show responsible credit behavior, your score may actually go up.

The fact that you have cards from a variety of card issuers is beneficial. This will come in handy if you're shopping in an establishment that doesn't accept cards from a particular issuer. Having a specific card denied can certainly be a problem when traveling overseas.

However, if you're someone who has a difficult time using credit cards responsibly, then you should limit the amount of credit cards you have access to. There's no point in tempting yourself!

This question is about:  Credit Scores / Reports
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