re: How many credit cards should you have?

I have 8. 5 with Chase (2 Slate, 1 Freedom, 1 Freedom Unlimited, and Sapphire). The two Slate ones I don't use anymore. I mainly use the Freedom Unlimited for the cash back rewards. Only use the Freedom when they have the 5% cash back rewards (it changes every quarter). About to receive the Sapphire credit card. I'll get 50000 points if I spend $4000 dollars in the first 3 months. Points can be used for cash or travel through the Chase website. The other three are with Citi. I used those mainly for balance transfers and I'm paying those off currently. Citi has some great balance transfer offers. The ones I've used had 0% APR for 12-18 months and the transfer can be deposited directly into your bank account.

With all that said, it is helpful to have multiple credit cards to help your credit score. It is referred to as credit utilization - the amount of your credit card balances compared to your credit limits. So if you have low balances and high credit limits, that will help your credit score.