How many credit cards should you own? According to Suze Orman, you should own (or at least carry) only two credit cards: one for regular purchases and one for backup. She is particularly critical of department credit cards that lure consumers into getting a discount at the cash register which may end up costing more in interest fees. Suze warns, however, that you should close credit card accounts over time to avoid hurting your credit history.

Bank accounts do not affect your credit score and closing bank accounts will not hurt your credit.