How Many Credit Cards Should I Have? (Explained)

In this video, I answer the question “How many credit cards should I have” because you don’t want to have too many credit cards. How many credit cards is too many is a very common question, so we’ll go over the answer. Click "Show More" to see Ad Disclosure.

I personally have 9 credit cards at the moment because each credit card is part of a patient and long-term strategy that I believe is best. If you are looking to increase credit score, maximize credit card rewards, and build better financial habits, then this video will be useful. While there is no true upper limit for how many credit cards should I have, each person will have a different answer. Some people may only need a few credit cards to get the most out of each. And if you aren’t using credit cards the right way, then 0 credit cards is probably best until you develop better habits.

But this video is designed to help you ask the right questions to decide for yourself how many credit cards is too many. I personally plan to get more and more cards over the years, but each credit card will have a strategy behind it.

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Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.

[isabelzumaya]

I’m watching this to help my mom with her finances I’m 18 and sure does put things into perspective thanks man

[TheCreditFrog]

There's definitely a lot of factors that go into this decision, and they were very well explained in this video! I personally had only 3-4 cards for over a decade until my income grew to a point where it made sense to have more. Now I have 12 (8 personal, 4 business) with my sweet spot being around 15 or so. Great video Daniel!

[granttcg]

You make some great points man, I rushed into getting the capital one savor rewards card and quick silver during my credit rebuilding journey and got no sign up bonuses with either card when had I been patient could have got $400-$500. Definitely taking it slow now and Increasing my card count as my credit also increases. Your vid’s help a lot!

[TheKsolo]

Fantastic job breaking this down and making it easy to understand. Sometimes I think the subject may be common sense but as I watch and listen I learn a LOT. This is great content

[johnmckinstry]

Having multiple cards is definitely a matter of personal choice. In the spring of 2020, I started taking steps to work on my credit so I could get some cards. Up until October 2020, I only had two credit cards that I have had for several years. Now I have six cards. Mainly, I’m getting cards to maximize cash back in various spending categories. By the end of this year, I plan to get a few more cards of which one or two may be hotel keeper cards.

[APennyPinchersGuide]

With most things "it depends". Absolutely agree with treating your card like cash! Finding the balance of financial optimization and the amount of work it takes to get the most out of every penny will definitely vary from person to person and is hard to give definitive guidance on. As always crushing the credit videos Daniel!

[tomchilson]

You are definitely right that this is subjective to each person. Some may like simple set-ups while others like to keep applying to new cards for maximum value.

[waltzawaydreaming]

As a general rule, if you do international travel, it is my belief that you should have one of each of the 4 major CC companies at a minimum (MC, Visa, AMEX, Discover). This is because while in the U.S. Mastercard and Visa are usually interchangeable in terms of acceptance, I’ve been to countries where that is not the case and (usually smaller) merchants will accept one or the other. Of course, you also want to ensure no foreign transaction fees. I personally do not have a Discover card as it tends to be not as widely known outside of the U.S., but I THINK it is accepted where Diners Club or JCB is accepted . Also, keep in mind that if you are traveling to multiple countries and staying in hotels, it can take some time for “holds” to clear (I found this out the hard way after a trip to Peru, Argentina, and Chile…by the end of the trip, all of my available credit had been consumed my charges PLUS holds that had not cleared).

[seandx]

I currently have 18 cards Amex Heavy. I have adopted the same approach as you where I believe slow and steady wins the race. I am going to be adding more cards over time the next cards I am going for are the chase trifecta, then the Hyatt card from chase. As soon as I am out from the 5/24 rule. Great video!

[chrismorin]

Great video, Daniel. 100% on board with your slow and steady recommendation. I have 4 cards now and plan to only add 1 (CFF) this year as this will complete my Chase trifecta. Maybe one more in the AMEX Gold card because I do spend quite a bit on groceries and dining, but I am happy to push that one off into next year. For me, I can see effectively using 7 - 8 cards focused primarily on Chase and AMEX. That is what I foresee now, though. The next couple of years will be very telling in how my SO and I are able to ramp up our traveling. If we layer in international travel, as is our intention, AMEX cards will definitely become more valuable.

[KingOfXin]

This is the best video I've watched. I subscribed because of it. Great info and better presentation. Great work 👏

[MikeMaye]

I was surprised you said 9 I would have guessed 15-20 lol. Personally I have 8 credit cards and the way I rotate and use them works for me. Thanks for sharing Daniel and great vid as always 👊🏽💥

[MWade-uxer]

I’ve learned my income determines my credit card spending power. I currently try not to go over 25% of any credit card limit per month.
Over time, as my access to more cash/income grows, I may consider increasing my CC spending power percentage because I know I could pay it back down. This practice helps me not dig myself in a hole that’s hard to get out of.

[JacobKustra]

I'm a firm believer it truly depends on the individual but for me, the answer is as many as you can correctly manage and get the full use out of. I do agree though with your point of being patient. Such a crucial tip that many just ignore. Credit is a long term game, and if you want to maximize your score, and your relationships with these lenders, the best way to do it is by being patient.

[darealphantom]

Great video as always, this is some great information for all of us definitely unique content in the credit card YouTube space! For me I have 7 cards but I want like 4-5 more (Amex gold, platinum, platinum business & sapphire preferred)

[edwinmartell]

Great helpful video, thanks so much for your time and guidance. Keep up the good work 👍

[kristophe]

Hey Daniel, great video & excellent advice especially for those getting n2 the CC game. I totally agree that the # of CC for a person depends on how well you're going to manage them.

Personally, I'm well into the dbl digits but like you I have a particular purpose/use for each one...I think that is key 🔑 if you're getting n2 it for the points and/or cash back..

[davemartinez]

Treat your credit card like a debit card. No wiser words have ever been spoken. I currently have 11 cards. Since Banks pay very low interest I have been using my credit cards to make up for that. Also keep a low credit utilization mine is about 2 to 3%. I'm older there's no excuse for this younger generation to miss a payment. You have the internet I pay my bills every week plus check my balances. When I was your age our statements came in the mail and we used to have to write a check put it in an envelope put a stamp on it and send it out in plenty of time for it wouldn't be late.
Credit cards are money makers. You gave some great advice
I always learn something new thank you for taking the time to make this video.

[sjg]

I think for "average" people, one cash back card, one rewards card, and a catch-all card that one would use if there's no other uptick in benefits from the other cards should suffice. It's also important, if possible, to have a card with no foreign transaction fee.

[jloiben]

I think it really depends. As a minimum, I think one card with a good bonus for food (ie - Amex Gold), one with a good bonus for travel (ie - Chase Sapphire Pref), and one everyday card (ie - Capital One Venture Rewards). There are plenty of really good options that do this. There isn’t really any one good one.

Beyond that, it depends on what you spend money on. Maybe a card with a good gas bonus category. Maybe you rent and should get Bilt. Maybe you fly on specific airlines or stay at specific hotels. There are a ton of ways to fill out your credit card lineup once you get a good base of food, travel, and everyday spend cards.