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How Many Credit Cards Can I Own?

Depending on your situation and financial goals, there is no limit on the number of credit cards you can own. However, be aware of your credit card transactions as it can affect your credit score.

There is no limit on how many credit cards you can own. However, we recommend you should own at least 1 credit card to build up your credit history.  The number of credit cards you own does not have a significant impact as compared to how you use them. One important factor to consider when using a credit card is to be aware of its credit utilization rate. As a rule of thumb, maintain a credit utilization rate close to 30%.  Any values that are significantly higher than 30% will alarm creditors that you may rely more on credit instead of your actual assets.  Lastly, be aware of opening or closing multiple credit cards for short periods of time as it can lower your credit score. For more information on different factors affecting your credit score, check our article on Why Did My Credit Score Drop?

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