How many credit cards should you carry?

If you are wondering why you can never find what you are looking for in your wallet or purse then maybe you should reconsider having so many credit cards. Most people are perfectly fine with having two major credit cards. One of them should be a low-rate card for times when you must carry a balance, and the other should be a card with a grace period. 

Charge cards are cards like American Express. Unlike credit cards, they do not have a monthly spending limit. You can make an unlimited amount of purchases; however, after every month you need to pay the balance in-full amount. Charge cards usually impose a fee and tack on penalties to discourage you from transporting a balance. To avoid the potential hazards that accompany credit card use, be smart and safe of your spending habits. Also keep in mind that being able to make the minimum monthly payment does not mean you are able to afford the purchase.