Credit card offers now come in all shapes and sizes:  low APR, no annual fee, cash back, rewards, and more.  With so many offers out there, you start to wonder just how many credit cards you need to get by.  Believe it or not, one card is enough.  Why only this one card?

Expense Paper Trail
Most people track their credit card spending through their monthly statements.  Now you have the option of accessing these statements online or through a paper statement mailed to you each month.  Having only one credit card makes it much easier for you to keep up with your expenses, regardless of the tracking method you choose.  With only one card, you can easily calculate how much you spend each month, how much you owe, and the remaining balance on your card.

No Temptation Here
Owning a credit card is a requirement in many cases.  Online purchases, renting a car, and reserving a hotel room are a few of the instances where owning a credit card is necessary.  With one credit card, you can do all of these things and more.  You do not need a credit card for every store you visit; in fact, the more cards you accumulate, the more difficulty you are going to have tracking your expenses and paying off your debt.  Also, you are more likely to be tempted to charge items to your card when you have an assortment to choose from.   You might only charge a small amount to each card, but the totals quickly add up and grow if you do not monitor each card’s activity closely.

When It’s Time to Pay It Off  
Let’s face it, credit cards have to be paid off, and the sooner the better.  Whether you choose to pay a little each month or one lump sum, having only one card to pay off will make life much easier.  Your credit card will have a set APR, annual fee, and other features you will already be familiar with.  You can use this information to help you determine how and when to pay off your credit card debt.  If you have more than one credit card, you will be faced with different balances and fees, making consolidating your debt a long and arduous process.  

Identity Protection
Identity theft is a real and growing problem in our society.  People are targeted every day, regardless of their financial status.  Owning one credit card as opposed to many, can help you better protect your finances and personal identity.  One credit card is easier to keep up with than multiple cards.  If your card is lost or stolen, you only have to contact one company to report it.  Owning only one card also makes it easier for you to monitor your account for suspicious activity; a quick look at your statement can help you ensure no unauthorized purchases have been made on your account.

Taking control of your finances may seem like a daunting task, but it does not have to be.  Owning only one credit card will allow you all of the security and freedom you need to be a responsible, savvy spender in today’s economy!