Some people will tell you that even one credit card is too many and if you have problems handling credit they are correct.

However, most people are able to safely handle credit cards, if they do not get too many of them.

What most people need is ONE all purpose credit card - either VISA or Master Card. Some places still do not accept Discover and American Express. Try to get a card with a low interest rate and a reward system.

If you do a lot of traveling and ONLY use one brand of gas, you might want to consider ONE gas card. This lets you get one itemized bill to pay off at he end of each month, which is very handy especially if you drive for business puposes. A few of them even give you a discount on the cost of gas.

If you do a LOT of shopping at a department store you might want to get that stores card. This will let you know about special offers and sales before other people BUT BEWARE! Most store cards have higher interest rates than other cards so be sure you pay these off each month if at all possible.

NOTE: When you apply for a loan, finance companies take a look at what the total amount you are able to borrow on all credit cards, not just how much you owe. Having too much “potential debt” can lower your credit score and your chances of getting that loan you wanted.

Of course, as I said at the beginning - if you have problems handling credit - get rid of ALL cards except for ONE “emergency card” and a debit card. Freeze the “emergency card” in a block of ice and keep it in your freezer. Before you defrost your “emergency card” - ask yourself:

1) Is there anyway I can pay for this without using this card?
2) Can I defer the purchase til later?
3) Is this a REAL emergency? What will happen if I do NOT charge this expense to my card?
4) Will I be able to repay the money in a reasonable amount of time?

There are times you need quick access to credit and having one card available is a good idea, but remember that a trip to visit a relative who is in the hospital and not expected to pull through IS an emergency. A new pair of shoes or an MP3 player is NOT!