A look inside an average American’s wallet will show you up to three credit cards most of the time. This leads to questions like, “how many credit cards are too many?”
Unfortunately, there isn’t a one-size-fits-all answer to this question. It all depends on each person’s financial habits, the ability to repay loans, and the reason for getting multiple credit cards.
Multiple credit card can help you build your credit score faster. If you can make all payments on time, it will increase your credit score and your creditworthiness.
More cards will automatically give you a higher credit limit because each card has its limit. Together, they will give you a higher credit limit than someone with one card.
Defaulting multiple credit card payments can plummet your credit score drastically. Try not to default on any payments to keep your credit score up.