One of the most often asked questions about credit cards is 'how many credit cards should I have?'. It's not an easy question to answer. There's really no magic “right” number of credit cards. It all depends on your situation and needs. What's right for you may be too many for someone else, and vice versa.

On the other hand, there are norms, and there are standards against which the credit bureaus compare your record. Those norms will determine your credit score, which is how lenders determine whether or not to lend you money, give you a credit card or give you the lowest interest rates available. When a credit card UK issuer checks your credit score, they'll be looking at how well you compare to their 'ideal' customer - the guy who uses his credit card frequently, and always pays his accounts. That profile differs slightly from bureau to bureau, but in general:

Right now, there are enough credit cards in circulation for every adult in the nation to have four pieces of plastic in their wallets. While that's a gross average, since there are certainly many people with no credit cards at all, it's a fairly safe average number. Most money experts recommend holding between two and six credit cards - including store charge cards - in your wallet (or in your dresser drawers at home, to avoid temptation).

What's more important than the number of cards that you hold, however, is your outstanding balance, how well you manage them, and the length of time that you've held the accounts. Each of those plays a far larger part in determining your credit worthiness than a simple x number of cards.

The best rule of thumb is to keep the balances on all of your credit cards between 25% and 50% of the available balance on that card. Lower is never harmful. Higher, on the other hand, suggests to potential creditors that you live beyond your means. Credit cards - especially several of them - that are at or near to their limit also make creditors question your ability to keep up on the repayments should you suffer a temporary financial setback.

A second rule of thumb is to keep your total credit card debt to less than 20% of your annual income. This is a flexible number, and affected by how you use your credit cards. If, for instance, you use your credit cards to pay for daily expenses and pay off the balance monthly, you can afford to carry more debt on those cards than if all of your credit card debt is in long term purchases and running up interest charges.

Finally, don't jump up and apply for half a dozen credit cards so that you'll have the “right number”. One of the things that will raise the most eyebrows on your credit report is a sudden spate of new credit applications. If you do want to add one or two credit cards, however, shop carefully for the right credit card for your uses.

At moneyeverything.com, you'll find all the information that you need to apply for the credit cards that you need. In general, you should have:

- one credit card with a very low APR for emergency situations and expenses that you can't pay off in one month's time

- one credit card that offers the best rewards points or cash back system for everyday purchases

- one credit card that offers special savings on petrol if you drive a car

- one or more store charge cards at the shops you frequent - to be used ONLY for the benefits that they offer.