Credit-card issuers relentlessly tempt you with new offers, even as they keep changing the terms of the cards you carry. However, you know you don't need five credit cards, all with different "rewards." While it's always good to have a backup for an emergency, sticking to one card will minimize the number of bills you pay and maximize your card rewards.

Invest in a credit card with low rates that will last. You'll find it easier to chip away at a balance if your interest rate is well below today's 14.1% average. A 0%-balance-transfer teaser is tempting, but you can owe fees as high as 4% of the balance. And if you can't pay it off within six or twelve months, you'll be left with the hassle of chasing the next offer. Skip the promotions and opt for a low ongoing rate.

If you pay off your balance in full and are good about not having balances with your card(s), then you should look for a card with rewards. However, make sure you utilize your spending power to the fullest. If you earn miles when you rarely fly or if you split between two or three cards, you will not get the most out of your rewards and cards.