Credit Card Best Practices - What You Need to Know

According to a Credit Karma report, the average American has 2.5 credit cards. Some have two; for others, it’s three. Of course, outliers may have more or less.

The number is all over the place, which raises the question–how many credit cards should I have?

keep reading to learn about the pros and cons of how many credit cards fit your budget and lifestyle.

To build credit. There’s no arguing that money is essential. Credit extends your purchasing power for a home mortgage, to invest in a business, and to finance an auto loan. In addition, you can use credit cards to build credit responsibly.

Credit Card Pros


To earn rewards. Nobody wants to spend more than they have to. So credit card companies may offer cashback or points on your everyday purchases to save you money with little effort. In addition, many cards come with sign-up bonuses that encourage up-front spending for more significant rewards.


 Credit cards are easy to use and more convenient than cash. They take up less space in your wallet and allow you to keep more money in a high-interest savings account longer.

Credit Card Cons

Despite many advantages, credit cards also come with a few disadvantages. Here is a list of some credit card cons:

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