When used responsibly, credit cards are a helpful tool for making purchases, building credit and earning valuable perks. The average American holds 3.1 cards, with an average balance of $6,354 across all cards.
But how many is too many credit cards — or too few? Is there a magic number?
No, "there's not a one-size-fits-all answer," Greg McBride, chief financial analyst at Bankrate.com, tells CNBC Make It. "It depends on what you're using credit for and if you're disciplined about paying the balance in full every month."
How many cards you can reasonably keep track of without accruing debt? If you consistently pay off your entire balance every month, opening additional cards can actually boost your credit score.