Based on the 2016 Gallup Report, three out of four Americans have at least one credit card. On average, Americans have three credit cards in their wallets. But, how many credit cards should you really have?

Number of Credit Cards

There is no golden rule stating you need multiple credit cards in your wallet. Instead, the number is based on your lifestyle. Look at your borrowing history, payment habits, and the age of your credit accounts. If you are an accountable credit user, as in you pay off your balances in full and on time each month, you might want to consider multiple credit cards.

Benefits of Having More Than One

After you establish a good credit history with a basic credit card, you could start looking for a card that has rewards. Credit cards with rewards provide perks every time the card is swiped. To get the most out of the card, make sure your most consistent type of purchase is rewarded.

If you are looking for one card to be your no-frills, build-up-good-credit, card, check out the DEXSTA VISA Platinum credit card. This credit card is the perfect, everyday card with low rates and purchase security. If you’re ready for a card where you can reap the rewards, the DEXSTA VISA Platinum Rewards could be right for you. This DEXSTA credit card converts points to cash and has travel and merchandise rewards.

DEXSTA credit cards are a perfect balance; one to continue good credit and the other for your spending perks. DEXSTA credit cards also have low competitive rates and no junk fees.

Using multiple cards, if done correctly, can help boost your credit score. Your debt-to-credit ratio, configured by your credit card debt divided by the sum of your credit limit, could improve by increasing your available credit each time you open a credit card, which can potentially improve your credit score.

Another reason for more than one credit card is in case you one in a pinch. If your credit card becomes compromised, your new card will be mailed. Since it can take several days to receive it, having another one handy can be the difference in a trip back to the market or not.

DEXSTA Credit Cards

If you are looking for some credit card options, we can help. Contact us online, by phone, or walk right into one of our branches.