1 – There are MANY reward (cash, miles, points) credit cards that do not have annual fees. Might as well get some reward for your spending. If you can’t get 2% “value” from a reward credit card (with no annual fee), you just aren’t trying hard enough.

2 – Two cards might be “enough,” but it’s hardly the best option. One card may give good rewards for groceries (Chase Freedom 3%), another may give good hotel points (Hilton 6 points) for drug store purchases. Several cards can maximize your rewards.

3 – A few additional cards can also increase your total available credit, which means lower credit utilization and higher credit scores (FICO).

4 – For folks who do carry a balance, there are several cards with low rates that do not have annual fees (several about 7-1/2% when we last looked).