How many credit cards should I have?

There really is no standard perfect mix of credit, but here are some great guidelines based on where you are with your credit history.

• For new credit users (0-1 year): 1-2 major credit cards
  
• For semi new credit users (1-3 years): 2-3 major credit cards, and an auto loan
  
• For seasoned credit users (3-7 years): 3-5 major credit cards, an auto loan and a mortgage
  
• Anything beyond 7 years: As much good credit as you want!
  

Just like the perfect pot of minestrone, a little bit of something can add depth and interest, while too much can really detract from the overall mix. It's the same with credit. The reason it is so important to be picky about the lines of credit you establish is because once you open a line of credit, it is on your record for a very long time.

The key is to have as much high quality credit as possible, with a good blend of revolving and installment debt.