Some people don't realize a problem with their credit score until it's time to apply for a loan. Then, the most recommended way to increase your score is to take out more loans to prove to lenders you’re responsible. But what if you just can't afford to get another loan - then what?

Ok, let's just rip the band-aid off and get straight to it - How many credit cards is too many? There's no exact number of credit cards to have, and it varies for every credit cardholder. It’s certainly good to have one, but it wouldn’t be bad if you had two (or six!) credit cards sitting in your wallet today. What really matters is how you use it. It's a frustrating answer, right? But don’t worry – I can explain…. The cool thing about credit cards is the benefits, and there are so many to choose from! There are store credit cards, cards specifically for air travel, and more credit cards offering cool rewards and perks like cash back or discounted rates at your favorite restaurant. Having options of which credit card to use before making a purchase can feel like you’re 100% covered where you have the flexibility you need for the unexpected. Especially if you're not carrying large amounts of cash. "But how many credit cards is too many?!" As an undergrad, this was my question when I received multiple credit card offers in the mail. It was sooo tempting to apply because the offer meant more credit power at my disposal if approved. But I also had other questions that came with that: What would multiple credit cards mean for my credit score? Would it hurt or help my score and history? Is there a penalty for having too many credit cards? Could I wind up incurring more debt? What should I do with my current credit cards? These are all excellent questions to ask when you’re thinking about applying for another credit card and if you already have two or more. Understand there is a risk of having multiple credit cards and there are benefits but it depends on a few factors.

Having a financial cushion in place to cover expensive purchases and sudden emergencies is what a credit card is great for. But having a credit card or multiple credit cards with a hefty balance or a super-duper high-interest rate on top can be too much to bear.