Credit cards give you a lot of purchasing power, but they do not give you free money. Here are a few myths about credit cards:

Myth #1: The more cards you have, the more affluent you must be.
Truth: A wallet full of credit cards means you may be on your way to serious debt, and not rich or impressive with your money as you'd like people to think as you pull out fifteen credit cards to pay.

Myth #2: You should have as many cards as possible in case of emergencies.
Truth: Having too many credit cards is liable to create the "credit emergency" of too much debt. Be credit smart by limiting yourself to only one or two credit cards, in which you should also keep low balances. You should have plenty of credit available for unexpected events; if you do need additional assistance, you can always request an increase in your credit limit.

Myth #3: More credit cards equal a better credit rating.
Truth: Too many credit cards create the potential for overspending and can actually lower your credit rating. You only need one credit card (paid as agreed) to establish good credit.

When it comes to credit, "less is more." Use your credit card(s) on an as-needed basis only. Do not just spend because you can.