According to a Credit Karma report, the average American has 2.5 credit cards. Some have two; for others, it’s three. Of course, outliers may have more or less.
There’s no arguing that money is essential. Credit extends your purchasing power for a home mortgage, to invest in a business, and to finance an auto loan.
In addition, you can use credit cards to build credit responsibly. You show creditworthiness with your flawless payment history and low utilization rate.
Nobody wants to spend more than they have to. So credit card companies may offer cashback or points on your everyday purchases to save you money with little effort.
In addition, many cards come with sign-up bonuses that encourage up-front spending for more significant rewards. Pay the balances off without interest, and you win.