How many and what type of credit cards should you have? The answer is not only highly individual but is also likely to evolve—with your finances, your spending, your knowledge and the credit offers available to you. Here are a few reasons however not to use them too much or not have more then 1 or 2 at maximum.

  • The Temptation to Overspend.
  • Interest Makes It Harder to Pay Off the Balance.
  • Risk of Getting Into Debt.
  • Risk of Ruining Your Credit Score.
  • Minimum Payments Can Create a False Sense of Security.
  • Confusing Credit Card Terms

At the end of the day I understand the argument for getting credit cards in particular rewards and improving your credit score, however be careful.

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