Consumers should carry one to three rewards card to collect rebates.
But if you owe thousands on a credit card, it's even more important
to get a low-rate balance transfer card. You can either get a
0% balance transfer for 12 months or a
low-rate balance transfer of around 5% to 6% for the life
of the balance. It may also be wise to carry
a low-interest
card in case you have financial difficulties and need to carry a balance temporarily. You probably don't
want to carry a balance on rewards cards, because their interest rate is usually higher than average.
Some people worry that owning multiple cards might
harm their credit rating. But according to the
FICO credit score company, that does no
harm unless they see you opening multiple new accounts.