A question that many Americans ask is “How many credit cards should I have”. Credit cards are convenient as they allow users to pay for services and goods with credit. The convenience is even more amplified by the fact that users are allowed to spend more than what they own. But unwise spending can put you in debt. So that begs the question of whether owning more than one credit card is a good thing.
If we look at this statistic, Baby Boomers and Gen X own the most credit cards out of every other generation. With 4.23 and 4.61 credit cards per member of generation, Baby Boomers and Gen X make up the generations that use the most credit cards. But is owning that many cards good for your finances? In this article, we will give an answer to the question of how many credit cards should you have.[Read more…] about How Many Credit Cards Should I Have? The Right Answer