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How many credit cards should I have is something we ask ourselves quite often. According to the Guiness Book of World Records, the most extensive collection of active credit cards was 1,497. I don’t think any of us need that many.

How many credit cards should I have?

This answer widely depends on multiple factors such as your budget, credit score and what you plan to use them for. If you are Travel Hacking, this question becomes even harder to answer. The easiest way to get miles/points is the use of credit card sign up bonuses and daily use. Unfortunately, it isn’t one card fits all to get the most points. Most have strong categories or items that you purchase for bonus points and a flat point amount for other things. To get the best bang for the buck, I split my spend between four different cards.

Below is the list of credit cards I feel like I need to have, with most of my flights being to Las Vegas, Orlando, and Cancun. Now does this answer the question of “How many credit cards should I have?”. I’m not sure, but I think you will find the information helpful in making your credit card decisions.

Credit Card List

1.) Chase Ink

This card is no longer available in the form we use, but they do offer the Chase Ink Preferred. The version I have allows for 5x Ultimate Rewards points on my cable/cell phone bill along with purchases at office supply stores. I like to pick up gift cards for the 5x Ultimate Rewards points for stores my wife or I go to often such as Starbucks, Lowes or Target. They provide other benefits such as 2x Ultimate Rewards Points on gas. You receive 1 point on all other purchases

The Chase Ink Preferred only does 3x Ultimate Rewards points on cable/cell bill and office supply stores. Another perk we enjoy is the cell phone insurance through their card if you pay for your cellular bill with this card.

2.) Chase Freedom Unlimited card

This is one of the two default cards we usually use. This allows for 1.5x points for all purchases. Worst case, you can cash these out and its a 1.5% cash back card. But since we have the Chase Freedom Unlimited card , we can transfer the Ultimate Rewards Points to that account and converts those into miles giving us about 3% back on all purchases for travel through Southwest, Hyatt, United, and other programs.

3.) MGM Mlife Card through the First Bankcard

This is due to my loyalty to MGM casinos. Each purchase for gas and groceries is 2 points in loyalty and 2 points in credit at one of their casinos. We are fortunate that our Walmart counts as groceries. This is what allows me to maintain my higher than average rewards/loyalty status at MGM and provides better deals through their program for free nights and food comp credits. I only use this card for gas and groceries.

4.) Paypal through Synchrony Bank

This is my other default card. This is a simple and plain 2% cashback card. When all else fails, this cash back covers those items that come up on travel such as taxis and food on the trips. With this being 2% on everything with no annual fee, it will beat most of the cards that offer only one point per dollar.

How Many Credit Cards Should I Have? – Conclusion

Keep in mind; values change for what airline and hotels are worth. As flights get cheaper at times, the number of miles it may take may not. My general rule of thumb is if you do not get at least two percent value per dollar or some ancillary benefit like additional warranty, don’t overlook a simple cash back card at times.

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