Credit cards can offer a lot of value to responsible users, with sign-up bonuses, rewards on everyday spending and perks that can save you money. Using multiple credit cards can be a great way to take advantage of the different features each one offers.

But how many credit cards is too many? Ultimately, it depends on your financial situation, how well you manage your money and your general preferences. Here's what you need to know.

The benefits of using multiple credit cards

There are countless credit cards offered by banks, credit unions and other financial institutions, but there isn't a single card that works best for everyone. Even if you find a card that meets a lot of your needs, you can usually get more value by using two or more cards. Here's why.

Different rewards rates

Rewards credit cards offer cash back, points or miles on your everyday purchases, but the rewards rates can vary depending on which card you choose. As you shop around, it's important to pick a card that offers rewards rates that align with your spending habits.

If you spend a lot on gas and groceries, for instance, you may want to consider the Blue Cash Preferred? Card from American Express, which offers 6% cash back on up to $6,000 spent per year at U.S. supermarkets (then 1%), 6% back on select U.S. streaming services, 3% back on transit and at U.S. gas stations and 1% back on everything else (Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout; see rates and fees).

But even if gas and groceries are among your top spending categories, you'll likely earn just 1% back on most of your spending. To maximize your rewards, you could add the Wells Fargo Active Cash? Card, which offers a flat 2% cash back on all of your purchases, to use for your non-bonus spending.

Complementary perks

Some credit cards offer extra perks that can save you money or provide special experiences. But depending on what you're looking for, there may not be a single card that offers everything you need.

For example, if you're a frequent traveler, you may consider a general travel credit card like the Capital One Venture X Rewards Credit Card, which offers complimentary access to airport lounges, to elevate your airport experience.

If you're also loyal to a particular airline, you could add an airline credit card, such as the United? Explorer Card, which offers perks like free checked bags, priority boarding, and discounts on inflight purchases. You could also consider a hotel credit card like the IHG One Rewards Premier Credit Card, which gives you elite status perks, a free night each year and other valuable benefits when you stay at IHG hotels.

More available credit

One of the more influential factors in your credit score is your credit utilization rate, which measures how much of your available credit you're using at a given time.

For example, if you have a single credit card with a $2,000 balance and a $3,000 credit limit, your utilization rate will be 67%, which can damage your credit score.

However, if you have three credit cards with credit limits totaling $10,000, and you spread that $2,000 across all three, your utilization rate on each card will be lower, which can help improve your credit score.

Of course, this only works if you maintain the same level of spending regardless of how many cards you have. If you apply for more credit cards so you can rack up more debt, it can do more harm than good.

How many credit cards is too many?

As nice as it would be to offer a rule of thumb, the answer to this question isn't simple. Ultimately, it depends on a few factors that are unique to your personal financial situation. Here's what to consider to determine how many credit cards you should have.

Your credit score

If you're new to credit or you have a low credit score, using multiple credit cards can help you improve your credit. However, applying for multiple credit cards in a short period of time can hurt your credit.

What's more, the best credit cards are designed for people with good or excellent credit, so you may not get a lot of extra value with multiple cards. As a result, it may make sense to only have one credit card, possibly two, as you work to build your credit.

However, if you have great credit, you'll have access to a wider selection of solid options, making it worthwhile to have more cards.

Your money management skills

Having multiple credit cards can help you unlock more value, but it can also complicate your financial situation. The more credit cards you have, the harder it will be to keep track of monthly due dates and transactions.

It could even get to the point where you're not maximizing the value of each card because you're having trouble keeping track of rewards rates and perks.

There are ways to make it easier to manage multiple credit cards. For example, you could change your due dates, so they all fall on the same day each month, and you can use a budgeting app that imports transactions from multiple accounts into one place for easy tracking.

However, as you add new credit cards to your wallet, note how much time and effort it takes to manage all of your accounts. If it starts getting too stressful, you may have too many accounts.

General preferences

While using multiple credit cards has many benefits, consider what you value the most to determine how many you should have.

For example, if you aren't interested in using two or more cards to maximize your rewards on all of your purchases, you may consider sticking to just one card to keep things simple. In contrast, if you like to optimize everything in your financial plan, it can make more sense to have multiple cards.

Keep in mind

There is no hard-and-fast rule for how many credit cards is too many. As such, it's important to understand your situation, needs and preferences to determine the right number of cards for you.

Before you apply for a new credit card, consider your priorities and whether adding the new card to your wallet is the right move for you. Shop around and compare several options to ensure that you pick one that works well with your other cards. While it's possible that you'll end up with overlapping rewards rates or benefits, try to avoid making new or existing cards redundant.

This article was edited by Rebecca McCracken

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