How many credit cards *should* you have?

Paul_Herring

MichaelCR wrote: »

I'd say none .

You'd prefer no cover for purchases over £100 over cover for them? :eek:

terafarma

Depends on how disciplined you are with handling and managing money and credit. I have four credit cards that serve different purposes with each paid off in full every month.
1.Capital one: for the free credit report and equifax fraud alert.
2.Egg money mastercard cashback and Mbna Visa cashback - for cashback on purchases.
3. Halifax low rate credit card, 8.9%Apr, for the fairly large £7000 credit limit. The ones listed above all have credit limits of £4000. I'll rather spend and make purchases with credit cards as you're better protected should something go wrong. I have two of each, i.e. Visa and Mastercard but only carry one of each in my wallet. Self discipline and the usefulness of each and any credit cards as long as you can manage them sensibly without getting yourself in deep financial trouble using credit cards. Two cards I'll suggest, but I have four in my case and no more. If used and managed with reason credit cards can be very useful but dangerous like any other well-meaning but poorly managed financial product.

jay87

i have 9, but i think 4 is the best amount. 1 Visa, 1 Mastercard, 1 Amex and 1 Promotional/BT Card :-)