How Many Credit Cards Should YOU Have? 💳 How many credit cards is too many? 2024

[@ProudMoney]

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[@SliderFury1]

Magic number is 2. One for all your expenses that you build points with and pay off completely every month, and a backup with a high limit for emergencies.

[@ReturnOfGodEnel]

I’d suggest you rethink that

[@investmentanalyst779]

@@ReturnOfGodEnel2 cards is bad.

[@ReturnOfGodEnel]

@@investmentanalyst779 yes more is better 3-5

[@SpartanOfFinance]

I have 12 cards all personal. I regularly use 6 to cover all the categories.

[@djfmf]

you should also have a variety of credit cards from different payment companies like visa, amex and mastercard for example and not just all amex.

[@joeyheller2995]

I agree with you, two is all I need.

[@michaelsmith9308]

Each situation varies, however, I only had one secured credit card and a 873 score.With the addition of one unsecured credit score my score is now 896. Zero debt seems to be a LARGE impact along with credit utilization.

[@Albert-777]

@@michaelsmith9308850 score is the highest you can achieve,which would be considered perfect.

[@r_keeferjr]

21 cards :) over 21 years so about 1 card per year

[@b.coxemba6799]

I have 10 personal credit cards. With the oldest account months away from 25 years old. Total line of credit above 145k and over 830 credit score. I have 3 business credit cards. Never check my business scores. Come next month they all will be at least 2 years old. I personally pay weekly in full. When I don't its to let a balance hit to show activity twice a year. I keep 3 different networks. I think five is a sweet place for personal cards. Maybe 4 for business credit.

[@pishposh4506]

I have 9 credit cards but I really only use 2 regularly and 3 of them I haven’t used in like a year

[@Spinattitude]

I'm collecting the complete set...

[@ccastro416]

I believe the best setup is the Custom Chase Trifecta aka the chase trifecta with the Citi custom cash

[@Your32Maker]

Chase just approved me for their Flex, making it 11th new CC in less than 12 months... 2nd Chase CC...

[@andrewblatt296]

I have a minimum of two credit cards for easy account management

[@siumaka]

Really like how you cover these topics. You get right to the point and then go deeper. Nice job!

[@elchatfield8601]

24 and want more! Nothing exceeds like excess ! 300,000 dollars over the entire line ! Keep pace with inflation if they give I will take baby!

[@Your32Maker]

24 CC / 7 Store cards.. total 31...

[@SledgeIncTeam]

35 total for me. 31 personal 4 Business

[@ProudMoney]

whoa

[@MasonsTurtle]

Holy

[@docsays]

Sledge don’t play!

[@DoubleTHebrew]

Sheesh 😂 I got 2

[@SledgeIncTeam]

@TONYYAH12 hahaha. Since this video, I've picked up some and cancelled some, so I'm at 36 now. 28 Personal and 8 Business. I also make content 🫡

[@SpeedDemonCBR]

I have 9 credit cards myself but I am an authorized user on 4 of my wifes cards

[@firstlast1732]

I have one credit card one debit card and one home mortgage my score is 820

[@michaelsmith9308]

My credit score was already a 873 ONLY with one secured credit card, now when I got one unsecured credit card my score went to 896 (which I was told was very rare:) Have ZERO debit! Im able to purchase nearly anything without a income verification:)

[@ericgilliam9902]

Ramsey has left the Chat!

[@lionellawrence5798]

😂

[@oklahomafreedom5536]

He had to go to the situation room 😮😂

[@benitojr468]

😂

[@heirtothethrone000]

The right number to have is how many you can comfortably handle. I have six personal and 2 business and they all give me anywhere from 2-5% on a variety of categories that fiimy life.

[@BubbaSnipe03]

I have found out them at I’m not a multi credit card person I had 15 cards at 18 and now I have only 2 that I can pay off before I even make a purchase or pay it off as soon as I do and those are state employees credit union of NC and local government federal credit union. Both are 2k each I screwed myself when I was 18 now 20 with 7k debt but will have paid in 4 months

[@LilannB]

I have 3 which I feel is the most I can handle because I do not want to keep up with due dates. I have one card I use for routine spending that I pay off each week. I have one I make occasional purchases on and pay off a within a few days of the purchase hitting. The last card I have a recurring charge on just to keep it active and pay off the charge within a few days. Since I pay each card off quickly I do not worry about due dates.

[@1pntmm]

I agree with Adam that 2 as a minimum, and I personally would stop at that number, for the main reason of repetition. Those 2 are like the first taste of food everything else cannot compare. Oh and kudos about mentioning the foreign transaction fee, none is nice.

[@billybash01]

managing cards is a lot easier than it was years ago. Apps and notifications make it all much simpler

[@PassportBrosBusinessClass]

KEEP IN MIND: USED and NEW car loans help your credit score as well as cards do. Same for Home Loans and Personal Loans.

[@callmeNeno]

Had 18 and closed 9. I think my sweet spot is 4 to 5 credit cards. I’ve been streamlining my arsenal lately & closing accounts

[@nimravus01]

Solid advice as always!

[@nemesisut8793]

Great cc info. Thank you

[@77Joseph777]

I have more than 10 and juggling dates is not for everyone but it works for me 😂

[@clintonwoodward]

I just set all 10 to have a closing date at the same time each month. Makes it easy to coordinate payments.

[@77Joseph777]

@@clintonwoodward that’s a good idea. Although personally I use the staggered dates to my advantage.

[@dizzyg6862]

7 personal, 4 business

[@PhilMoskowitz]

I used to spend too much and it got me in debt and trouble paying CC debt along with car and insurance and rent payments. To solve the problem I pulled from 401K and brought all the things I'd ever really wanted, including a new car that also cost me $10K in savings and a $17K car loan. Two years later I have five credit cards that I easily keep low balances on because there's really not anything else I want to buy. I have all the things I every really wanted.

[@fifikabengwa4294]

I have 1 credit which I got since university and a line of credit. I'm thinking about getting a 2nd credit card.

[@Bugger22]

Great vid as usual, Adam. I have three cards and I plan on keeping it that. One for each pay period, and the third for reoccurring charges, and monthly subscriptions as I don’t allow anything to be withdrawn from my checking account.

[@zionm5335]

1 for each major issuer bank.

[@adamsmith8689]

I went hog wild the last decade. Had about 25 and closed down 10 last month. Hasn't affected my credit score at alll so far. Now it's time to sit and wait for the best ones. No more low hanging fruit!

[@Tristen_Smith]

What are the best ones?

[@adamsmith8689]

@@Tristen_Smith Chase!

[@DsnyLuv]

Great advice, loving your content

[@clintonwoodward]

One thing that concerns me is insurance companies that set your premium based on credit information (not credit score). I've heard some insurance models penalize you for having too many cards.

[@ProudMoney]

I'm not aware that there is a correlation there, though a poor credit history can play a role.

[@clintonwoodward]

@@ProudMoney There is a thread on Flyertalk called "Progressive Auto Insurance raised my premium 40% since I opened too many credit cards" where there is some discussion on the topic. A few people reported getting rate increases for too many cards even with an excellent credit score. Not sure how widespread that issue is.

[@SledgeIncTeam]

I've had 25 or more cards for a few years now. 35 currently and I've never heard this. I'd definitely drop any company that did business that way

[@tyronewilliams4960]

I have 30 Personal credit cards and 4 Business Credit cards

[@SledgeIncTeam]

We're close. I have 31 personal and 4 Business

[@siumaka]

Wow. What is in your arsenal? What are the main reasons you got 30?

[@SledgeIncTeam]

@@camdenmounts1473 I had 5 business but I closed the Amex Green Business because it's 🗑️ I just got it for the Sub and the annual fee was waived the first year

[@cs.8821]

What is your total credit limit for those 30 credit cards you have?

[@viper1213]

Tyrone the goat 🐐

[@lifecoach3]

Great information. Thank You

[@transitengineer]

Wow, I am really starting to feel like a very old Man. Back in the day it was, how many credit cards (let you pay your balance over time) verses how many charge cards (like a standard American Express card where, you must pay your balance in full each month) should, one own. For myself, I have the following: one MasterCard; one VISA Card, one Business American Express card, and one GoodYear Tire dealership card which, can also be used to buy gasoline (smile...smile).

[@transitengineer]

@@Shawn.credit So true. Another thing, if you some times carry a balance from three (3) to six (6) months is to have a card without an annual fee and a very low interest rate such as 10 to 12 percent have always also been important to me (smile...smile).

[@transitengineer]

@@Shawn.credit That sounds great. I am currently using three local credit unions to buy Certificate of Deposits (CD's). I have one that is paying an annual rate of 5.25 percent and another paying 5.5 percent. It is nice to watch some of my money grow risk free (smile...smile).

[@srmiii90]

This video made me think about how many I had, 9. Various issuers and cash back catagories but also different due dates. Sometimes I have a purchase where the cash back doesn't matter but almost another month to pay it before the due date does matter.

[@reesiegary9725]

Thank you so much, this helped me a lot.❤

[@cardojp]

Great content as always, thanks Adam!!!

[@CreasyEQ]

If a jewelry 💳 card counts. That would make 6 for me. I think the next time I apply for a 💳 card it will be a business 💳 card.

[@edward5pointoh]

I have 14 so far, if all goes well by then end of my list should have around 38

[@GBamaBoy]

😂

[@mssha1980]

I plan to have around 10

[@mikeyoung7640]

I don’t even live in the United States we don’t even have discover in Canada, for some reason, Google keeps giving me US information about United States credit cards even though I don’t live in the United States I live in Canada

[@jamesbondinspector]

Be proud of how much money you have in your bank not how many credit cards you have. Good grief 147.

[@scottshapiro2795]

I'm at 6 right now. In the next couple years I might get a Hilton and Amex card to do a trip, but need to research a little more to make sure I can justify the annual fees I would incur vs the cash price of the trip.

[@michaelsmith9308]

AMEX (the light blue card) has the CASH everyday card, EXCELLENT rewards etc........PLUS ZERO annual card dues:). Don't get CONFUSED with the navy blue card which is 95 a year!

[@stoveguy2133]

Hmm, 1? Or maybe 2? Wifey needs to borrow one and you need one.

[@markfennell1604]

I only have 8 current and thinking about getting more. How does that affect your credit. Currently I have 780 I don’t want it to go down by keep applying to too many

[@peterparker2068]

Spread credit card application throughout the year. I currently have twenty. Something I built over the years. This current year. I've sort of got a credit card every two or three months.

[@investorbro21]

if u have 8 cards then you know how it impacts your score why are u asking dumb questions

[@coziii.1829]

I had 15 at one point

[@anhnguyenhong8770]

6 credit cards maximum.

[@investmentanalyst779]

No

[@dawnbradford7361]

There is no limit if you get approved

[@aaront936]

A positive comment for the youtube algorithm.

[@arlandamanning8627]

I collect them !!!❤

[@tarzan621]

I have 45 personal CC and 9 Business CC

[@sblijheid]

Wow! A credit card junkie. I don't even have 45 separate line items on my bank statement. You must be a serious spend thrift!

[@PassportBrosBusinessClass]

I have Capital One Venture ($20,000) as my main card to buy everything. I have Applecard ($12,000 limit) to buy apple products and supplement Apple Pay. I have a new Wells Fargo Autograph card With a $15,000 limit to purchase Business Class vacation tickets. I also have an AMEX ($500) I barely use. 850 FICO SCORE. I pay no interest. I maintain $0 balance. I want the Microsoft Xbox card to pay my Xbox live and Microsoft Office accounts annually.

[@anthonypeterkin8973]

2 credit card is way way to many.😅 in Dave Ramsey eyes.

[@SC-or2ek]

For me I think 3 is good 👍 enough But no more than 5 More than 5 you lost track Of which one you forget to paid before a due date 😂😂

[@callmeNeno]

Amen 🙏 to that facts!!

[@lisaw7633]

Would it hurt my credit score if i closed one credit card? Would I t hurt if i stopped using it completely?

[@thecapableplanet7885]

The answer to both of those questions is yes credit card company like to see credit reports with long credit history on them so if the card you are, closing is one of your oldest cards, you will eventually lose the credit history and your age of credit will drop drastically affecting your credit score on the subject of not using your card. Eventually, the same thing will happen. The credit card company will close the card for you because of inactivity. It is a good rule of thumb even for cards that you barely use to put a small purchase on them at least once a year to have some kind of activity to keep the card open preserving the age of credit, that card gives you and then there’s also something called credit utilization credit utilization refers to the percentage of credit that you’re using in relation to all of your credit lines available to you for example let’s say you have two credit cards with $500 worth of credit on them, each by closing one of your credit cards you would essentially be losing 50% of your total credit utilization, credit card companies like to see reports that have Have a lot of available Credit with low usage on them. hopefully this helps.

[@CB_4216]

I love my credit cards but I am using them less and less these days. Credit card companies keep raising their processing fees and more and more businesses are no longer eating the cost and instead passing it on to the customer. I can’t say I blame them. I don’t use debit cards so physical cash is back for me.

[@investmentanalyst779]

Rookie mistake, the price of the item takes into account that fee. You now just gave up your security and discounts.

[@truchillztv642]

Ideally only One. It’s too easy to overspend with multiple ccs

[@investmentanalyst779]

Not really. If you overspend, you’re just an idiot.

[@colinyuhl9339]

I will encouraged people I know who are scared of CCs and only use debit to watch this. It’s lunacy.

[@LeTigre22]

Credit cards are great for building credit and the security they offer for fraud. Debit card gets lost any charges your stuck with. Certainly if your a big traveler you got options and so on so forth

[@HungNguyen-se8dn]

You only need 1.

[@investmentanalyst779]

No

[@DoubleTHebrew]

I got 2 😂 folks got 30 😂😂😂

[@MichaelB-od3xh]

Glad I subscribe only for you to remove my comment. Thanks Adam much appreciated.

[@Tristen_Smith]

Well what did you say

[@mickeybeavison1053]

Get rekt

[@Iduanereade]

I have 21 personal credit cards

[@cs.8821]

What is your total credit limits for those 21 cards?

[@Iduanereade]

@@cs.8821 145k

[@docsays]

I always recommend at least 2 cards, from 2 different issuers, & on 2 different payment networks, just to have all bases covered. I personally have: 15 bank issued cards 5 retail cards 4 business cards 24 Total Credit Cards

[@billybash01]

Baller

[@docsays]

@@billybash01 - 👍🏼

[@joseRodriguez-pk9ld]

I have 10 credit cards but i only use 2 of them will they close my accounts if i dont use them ?

[@infantrycaptain9224]

They can close a dormant acct after a year.

[@joseRodriguez-pk9ld]

@@infantrycaptain9224 that will dramatically affect my credit score if that happens 😭

[@thanosianthemadtitanic]

​@joseRodriguez-pk9ld better start charging then. A bag of doritos here and there will do it or even better a automatic bill payment

[@carryeveryday910]

@@joseRodriguez-pk9ldSmall automatic bill payment like hulu or something similar will keep the account active or just a meal here bottle of water there.

[@Fred2-123]

Yes, make sure you charge something on each card every 6 months.

[@popap1995]

1

[@ProudMoney]

🦄

[@kaeyreed1]

None

[@investmentanalyst779]

Rookie mistake

[@kaeyreed1]

@@investmentanalyst779 not a rookie. 62 years old, own three homes, cars are paid . If you can’t afford it, you don’t need it. Learn to save your money and don’t buy on credit.

[@sharkeatinpizza]

​@kaeyreed1 well no wonder you think cash is king, you lived through the time where that was actually valid and doing so didn't completely tank a teen/young adult's QoL

[@kaeyreed1]

@@sharkeatinpizza I have cards I just don’t think we should. Jfc

[@mightymulatto3000]

0 Credit cards.

[@bobdylan-t1r]

You’re doing it wrong. I was also like you

[@mightymulatto3000]

@@bobdylan-t1r Keeping, hoarding and investing one's money isn't a bad idea. The Federal reserve said recently delinquencies are on the rise with student loans due and other auto obligations. Doubtful people have enough to do anything but pay the minimums. Don't have to pay an account balance in full every month if there is no balance.

[@carryeveryday910]

@@mightymulatto3000You don’t get it. The balance you are paying in full is money that was going to be spent anyway but instead of swiping a debit card you paid with credit so you could get the rewards and benefits then pay it off with the money from your checking account that you were going to spend anyway. I have 4 cards $50k in total credit limit and 0 debt with a near perfect credit score so I can buy literally anything without needing income verification and I get the best rates.

[@investmentanalyst779]

@@carryeveryday910that guy is misinformed. When you’re smart you put 100% of purchases on credit of various obvious reasons. Makes life cheaper and safer. 825+ score across all bureaus. Travel free every year with the points. Brilliant.

[@ericdraven7857]

Why are you recommending credit cards when the typical american cannot use them correctly?

[@sharkeatinpizza]

Sounds like the typical American needs to learn better self control (I will confess, I was once part of that majority)

[@thetechtrons3778]

5th

[@ProudMoney]

I don't have any 5th place emojis. How about: 🤯

[@bobpiersol8313]

None Cash is King

[@BradleyJackson]

Inflation says otherwise

[@cs.8821]

I.r.s. coming after u lol

[@michaelsmith9308]

CASH is KING, credit is queen, combined 896:)

[@patrickodonnell9388]

Not anymore I have gone to places that wont take my cash and I didnt know what to do! I have credit cards but didnt want to be tracked on all my purhases. I payed with my card hoping she didnt see I purchased her gift.

[@investmentanalyst779]

Anyone who believes that is an idiot.

[@reginovelasco5290]

Answer: 0

[@sharkeatinpizza]

Enjoy not being able to do shit cuz of no credit

[@reginovelasco5290]

@sharkeatinpizza you're funny. I have a house, cars, investments and retirement set already. You've been fooled.

[@blacksuite1]

That may have been possible back in the 80s but it's prohibitively expensive now.