Try to make a survey among your friends and find out how many credit cards they have in their wallet. How about you? You probably have at least two. People nowadays have about two to five cards. Some have more. Is it really necessary to own this many?

There are so many good credit card deals in the market that people just cannot seem to get enough. Offering irresistible credit card deals is part of the marketing gimmick of bank companies to urge consumers to get another card. But at the end of the day, when you look at your cards one by one and the bills start pouring in your mailbox, the ultimate question is if you will be able to pay for it, or are you falling in the debt trap?

It is not bad to own credit cards because it actually helps build a good credit score for you if you always pay your bills on time. In the future, this will help you a lot when you need to borrow money from the bank, or get a car or housing loan. A loaning company will not hesitate to lend you what you need if a background check on you reveals an excellent credit score.

Having several cards also helps you cope with monthly bills. Rather than paying a big amount of credit purchase with one card, you can scatter your credit to different cards having different payment due dates.

The key is to not get carried away with all the credit cards you have. It does not matter how many you have for as long as you have the means to pay for all of your credit purchases. Only you yourself know your actual financial capacity. Even if you have 5 cards but you know how to control your spending, that will keep you out of debt troubles. But on the other hand, even with only 1 card on hand yet you overspend beyond your credit limit, you will soon find yourself drowning in debts and late payment charges.

There will always be better credit card deals and it will be hard to keep up with that. It is just like your mobile phone or laptop. After a few months, a new model comes out that makes you want to sell your current unit and go for the newer model. Sometimes, it is better to stay contented with what you have at the moment and maximize its benefits, rewards or privileges. Or, if you have to get a new one, then think of what card you can forego to maintain only a certain number of cards that you can handle.

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