Article courtsey of Everything Finance: Are you worried about the right number of credit cards that you should be having right now in your wallet. The fact that the credit cards that you have are a real nice tool if they are used wisely, else they would not take long to turn into a death trap, cannot be denied.

According to the experts having multiple credit cards is certainly not a bad thing. Usage of credit cards is a good way to keep a tab on the kind of expenses that you might have in your regular day to day life. The simple trick is to use multiple credit cards. Like use a specific card for buying petrol for your car, another one for the grocery, another one for the high ticket items like your DVD player, purchase of furniture, another one for your monthly bills etc. This way you would be able to keep a track on how much you are spending on what kind of items.

But in case you are using multiple credit cards then you ought to remember multiple due dates for those cards, the interest free periods, and the details of the offers for which you had used the specific card. In other words you would be required to know any thing and every thing about your card like the back of your hand.

Rolling over the credit is the worst thing that one can do with the credit cards. Like in the case of the impulsive buyers, who would just go shopping without considering how much they would be able to pay for the purchases, would not take much time to find themselves neck deep sunk into debts, with collection calls coming to them every day. Also do not forget about the huge amount of interest that would be payable on the purchases. So if you are in the habit of rolling over the credit just stop it immediately before you land up in big time trouble.

If you have a good payment track, chances are your credit limit would be enhanced soon enough. Thus be careful, about over spending and use the points that have accumulated in your card to get gifts free for your self or for your loved ones.