The right number of credit cards you should carry

Here’s a story that would make most Americans gasp: A man named Walter Cavanagh, known as “Mr. Plastic Fantastic,” has 1,497 valid credit cards, a feat that has put him in the Guinness Book of World Records.
That’s a shocking number, especially since 33% of Americans own one or two credit cards, and 29% own none at all, according to a survey of more than 1,000 adults by polling firm Gallup. But Cavanagh claims to have a “nearly perfect credit score,” and credit-card experts say he could be onto something.
“Having multiple credit cards in and of itself is not a bad thing,” said Sean McQuay, a credit-card expert at NerdWallet, a personal finance website. “Many people have this idea that having a lot is incredibly risky, or signals some type of financial distress. That’s simply not the case.”
Of course, owning more than 1,000 is extreme. McQuay recommended that an individual should carry roughly two to three cards on a daily basis — one for cashback, one for travel and dining rewards and another branded card for a retailer where you frequently shop. Limiting the options makes them easier to keep track of, and some credit cards come with a cost.

http://www.marketwatch.com/story/this-guy-has-1497-credit-cards-does-he-know-something-we-dont-2016-01-06