Don't Carry 'Too Many' Credit Cards

Financial Tip of the Day:

Try not to carry ‘too many’ credit cards. The more cards you have, the harder it is to monitor them and the greater the chances of identity theft. While there’s no perfect number in general, a maximum of 5-6 cards should be plenty.

Bank credit cards are preferable to retail credit cards because they generally have lower interest rates and allow greater freedom in where to shop. But before you go closing out credit cards, weigh out how they’ll affect your overall credit score and available credit.

Many Credit Cards