I keep only one credit card and pay it off completely each month. Only reason I keep one is two reasons; payments on line are safer with CC vs. Debit Card for fraud reasons. CC Companies will cover you for fraud /Debit loses as far as I know of based on the bank is your loss. The rebates from CC is excellent way to make your money work for you but I make sure I don't fall in the trap of spending more than what I can pay it off completely each month (this can be hard). CC companies will go nuts when you do this and often will keep trying to increase your credit limit so it gives you a false sense of extra money available so you spend more than your means. I often deline Credit limit increase requests but just recently they started increasing it without my consent. So... They are getting cleaver and I found when I was younger they were much harder to manage then now that I am older and understand their tactics on how they try to squeeze you from your money.