How Many CREDIT CARDS should YOU Have?

How many credit cards should be considered too many? the answer to this common credit card question may surprise you...

[TommyTombstone]

The fact that he has 1400 CCs and a near perfect credit score, while paying 100% in full, is proof that CC haters are just misinformed.

[AppleCrider]

Paying your cards off in full is #1!!!

[Zach-xmwc]

The only bad rep of too many credit cards is that people who are terrible at personal finance spend outside their means.

[MisterSal]

Set auto pay and notification on all your 20 credit cards to make it easier.

[POPJack]

Autopay is your best friend. Set and forget. I have 15 CCs and never missed a payment.

[j.p.anzini]

I love how you called your wife Mrs. Credit Shifu😂😂

[NickPeitsch]

The simple answer?

As many as you WANT (but pls pay them all off)

[JosePerez...]

Ben you Rock thank you for shedding some light on the “To Many Card “ Myth ! You nailed all Point love this Channel You are amazing 😉

Jose P

[marcialbode]

I think having 11 is good to keep your total account number high and in the green but just 1 or 2 with annual fees rotate the rest thru out the year based on categories just download all the apps place them in 2 folders once a week sit down and pay them off having a cup of coffee or something hope this helps

[baddboo]

CS QUESTION:
1. How often should you use a credit card that you plan to keep for longevity ?
2. Should you use and pay off, or should you let it cycle through a billing period?( so that it hits your credit report( utilizAtion ) ?
3. How long will it be when they close your account with no use ? (Months, 1 year)?
What I have been doing is using my “Longevity “ cards in November maybe once so that I show activity. But what are the repercussions having minimum use on these?
Thanks !

[MacAutomationTips]

I have three. One for business, one for general purchases, and Best Buy card for electronic items. I use each card for the cash rewards.

[stevenmiller]

You are absolutely correct, having just a few cards is worse for your credit score than having over 20 credit cards assuming that you are using them correctly.

[michaelwhitt]

I have 2 Amex, 2 Capital One, 1 Citi, 2 Discover, and 1 Care Credit card.

[thrasherx]

Wow, thorough and compelling analysis. Great presentation always.

[GreyShield]

As a self proclaimed expert on some aspects of Credit, I Personally feel like 10 to 15 credit/charge cards should be enough for any one person. In my case, FYI, I am 24 and currently own 5 credits cards across 4 companies. Some of which are bigger named brands like Capital One, Discover, Citi, Etc. And I’m currently eyeballing 2 other cards in the near future, my first Metal Card, and my first Charge Card . BUT ! That’s just the way I FEEL about having that amount. People can have way more than that if they can handle the responsibility and Fees that come with it.

I’m GREAT with Credit, but The Credit Shifu is the All around genius that I choose to follow 👍

[Pistolpete]

I have 21 at the moment, only actively use 5. I think I’ll stop at 30 to prevent new accounts from dragging down AAoA. Amex platinum takes the title for most prestigious looking cards. Sadly, no “tier 5” cards.

I think you should have as many of the no annual fee ones as you want. Would definitely limit new cards per year at 2-3 max

[DitsyMe]

I have 3 credit cards, one secured and 2 unsecured. I use all 3 once a month and pay them off on time and wait for the reset next month than repeat.

[chrisdietz]

I got 9, but I want to get rid of my old builder cards. I think around 4 to 8 decent cards is all your really need. I just categorize them, one for gas, one for food, one for phone payment, etc.

[WilliamIrizarry]

Great videos! I agree with everything you said here. I have 17 cards and have only seen positive effects on my score from it.

[averagebloke]

This gave me a headache, I can't see myself having over four credit cards.