Credit cards offer convenience when making purchases online or buying expensive items like a media room or a fully equipped garage. Many credit cards also offer benefits like travel rewards or cash back bonuses that serve as an incentive to use the card for purchases. You don’t need multiple cards to reap these benefits if you find one that fits your needs.
Having a single credit card can work well for anyone who wants to start building credit, including college students or new citizens, or for someone who doesn’t want to keep track of rewards balances on multiple cards and has the ability and need to put thousands or tens of thousands of dollars on a card each month. A credit card that offers cash back for everyday purchases like gas or groceries is a good starting point, but it’s not enough if you want or need more elaborate perks or benefits, like luxury airport lounge access or a concierge service.
