Is it better or worse to keep several credit cards or credit accounts open at once?

The answer depends less on the number of cards in your wallet and more on how you handle them, according to Rob Saroka, senior vice president and retail executive at Fifth Third Bank of Northeast Ohio.

Saroka said the biggest advantage of having multiple credit cards is simple practicality.

“Having options at the ready is really useful for people,” he said.

Travelers in particular may need a backup card if one is lost, stolen, or compromised.

“If your account gets shut down, you need a backup,” he said.

Multiple cards can provide that flexibility. But the same setup also adds more responsibility.

“The more accounts you have, the more likely you might be to carry a balance,” Saroka said.

That becomes

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