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YMMV is an abbreviation for “Your Mileage May Vary.” Basically, it means one person’s experience with a product may be different from another’s.

YMMV is often used in online forums to describe credit cards…

• Whose terms vary from cardholder to cardholder;
• That don’t have clear-cut approval requirements; or
• With offers that are available only for a limited time or to certain people.

YMMV is an informal term, however. And you are unlikely to see it on any credit card company websites.  

There is no right answer for how many credit cards you should have or how many credit cards is too many. The specifics differ from person to person, depending on how well an individual can manage one credit card, then two credit cards, and so on. So while three credit cards could be too many for one person, someone else might be able to comfortably manage seven. But that’s about where most people draw the line. The average adult has 5.6 credit cards, including 3.1 cards that can be used anywhere and 2.5 store cards. 

Having several credit cards can help you save more money by allowing you to get the best collection of rates and rewards for your biggest transactions. And it can help your credit score if you keep your utilization low and your payments on time. But what you should watch out for is applying for too many cards too quickly. It’s best to not apply for more than one per year, or six months, as each application puts a hard inquiry on your credit report and temporarily hurts your score. 

Here’s what determines if you have too many credit cards:

• Your credit report and score. If you have a history of financial mistakes, such as missed payments or worse, you should be careful about overdoing it. Besides, it may be hard to get too many cards worth having if you have damaged credit. 
• Your utilization and payment history. You don’t want to rack up more debt than you can comfortably afford to pay, or you risk carrying large balances and wasting lots of money on interest. And if you’re maxing out all the cards you have, credit card companies probably won’t want to give you additional spending power. 
• Company rules. Some issuers have unofficial rules regarding how many credit cards is too many for an applicant to have and still get approved for a new one. This could be an overall card limit or based on how many existing accounts you have with the issuer you’re seeking a new card from. There are lots of rumors floating around that Chase does this, for example.
• You’re having trouble keeping track. Even if your credit is good and you’ve been keeping your payments current, at some point it may be hard to manage all your open accounts. 

While we can’t tell you for sure how many credit cards you should have, the more data that’s at your disposal, the easier it will be to make that decision. WalletHub can help with free daily credit score updates and personalized credit-improvement advice.

This is a very common question, and I’m glad that you asked it. What people are referring to when they talk about debt being cheaper than equity is how much it costs a business or company to obtain the financing it needs. Two of the central ways to do so are via loans and by selling a certain stake in the company.
Now, when you compare the cost of debt (i.e. a loan) to that of equity (i.e. selling a stake of the company), you need to consider how the interest you would pay over the lifetime of a loan would compare to the portion of profits you’d sacrifice over the lifetime of the company. If the interest would be greater than an investor’s cut of your profits, then debt would be more expensive, and vice versa.

Given that the cost of debt is essentially finite (you have no obligations once it’s paid off), it’ll generally be cheaper than equity for companies that expect to perform well. In other words, the more you expect to profit, the most costly sacrificing equity will be and the more beneficial it will be to simply keep the profits to yourself and pay interest on a loan. For example, if you’re going to be making $100k next year, you’d much rather pay $10k in interest than give up 10% of your profits forever. This is especially true when you consider that interest paid on loans is tax deductible.

It’s obviously difficult to forecast earnings with any certainty, which is why large companies with steady cash flow that are in stable industries tend to make greater use of debt, while less-established companies or those in risky fields may not only find equity to be less risky, but easier to acquire as well.

Instant credit cards to use right away are rare, and only American Express provides a chance for instant use on every card they offer. But even in those cases, you can only get an instant use credit card from American Express if you apply online and are instantly approved. And for Capital One, you can view new card information through the Capital One app but only if you already have a Capital One card.

You’re most likely to get instant credit cards to use right away while shopping in stores. If a store invites you to apply for their card, they will often approve you instantly and let you use your card for a purchase the same day.

Some credit card issuers don’t offer any instant use credit cards. Others have only a few. Each issuer has their own restrictions for when you can get instant use.

Here are instant use credit cards by issuer:

• American Express: All cards have the potential for instant numbers, but only if you apply online. If you are approved instantly, you will have a short amount of time to write down your account info. If you don’t, you have to wait for your card by mail.
• Bank of America: You can instantly use the Alaska Airlines Credit Card to book a flight through Alaska Airlines if you apply online and are instantly approved.
• Barclays: If you apply for the Uber Visa through the Uber app and are approved, you can immediately use the card for Uber purchases as it will be linked to the app.
• Blispay: If you are approved for the Blispay Visa, you will be able to access and use a digital version of your card right away. You can use it online or at any store that is set up to accept digital Blispay cards. You will also get a physical card by mail.
• Capital One: You can see the account details for any Capital One card through the Capital One mobile app, even cards you’ve just been approved for. However, you must have an existing Capital One card account for this to work. You can’t do it for your first card. Also, this feature only appears on some accounts, not all.
• Chase: You can instantly use the Southwest Rapid Rewards Credit Card and United Credit Card. But this is only if you book a flight through the airline website and apply for the card during checkout. If you’re approved, you can pay for that flight only with your card before it comes.
• Citi: The only Citi card where you can get instant use is the Costco Anywhere Visa. If you apply in store and are approved right away, the representative will give you a temporary code to scan at checkout. It functions as your card until the card arrives.
• Discover: There are no options for instant credit cards to use right away.
• First National Bank of Omaha: You can get an instant number with an M Life Rewards Mastercard, but only if you apply in person at an MGM resort M Life Rewards Desk. You can only use it on MGM properties until you get your physical card.
• Synchrony: If shop online at a retailer that has a store card issued by Synchrony, you may be invited to apply. If you’re instantly approved, you may receive an instant number or at least be able to complete your purchase using the card. In store, you may also be able to apply for a card and instantly use it to complete your purchase.
• USAA: You can instantly use any USAA credit card, but only for purchases made through USAA. For example, you could use it for USAA auto insurance. But any purchases outside USAA have to wait until you get the card.
• U.S. Bank: There are no options for instant credit cards to use right away.
• Wells Fargo: There are no options for instant credit cards to use right away.

Even if you’re not able to find any instant credit cards to use right away that fit your needs, don’t despair. At most, a credit card will only take 7-10 business days to arrive after you’re approved. And many credit card companies provide expedited delivery for a small fee or even sometimes for free.

You can buy gift cards with a credit card at some retailers but not others. For example, you can buy gift cards with a credit card at Walmart, Target and Amazon.com but not at Giant or Harris Teeter. Many stores don’t allow it because buying gift cards with counterfeit or stolen credit cards is a common practice. On that note, you may earn rewards when buying gift cards with a credit card, but if you use the money from those same gift cards to pay your credit card bill, you could lose your account due to rewards abuse.

Here’s what you should know about buying gift cards with a credit card:

• A store may or may not allow it. It depends on how confident they are in their fraud protection.
• Retailers where you can buy gift cards with your credit card include Amazon, Target, Walmart, The Home Depot, Walgreens, CVS, Simon Malls and GiftCards.com.
• Some stores where you can’t buy gift cards with a credit card include Giant, Save Mart and Harris Teeter.
• Your issuer may or may not let you earn rewards for gift card purchases. For example, gift cards aren’t eligible for rewards on any American Express cards. But if you do get rewards from gift cards, you can’t turn those gift cards into cash and use the money to pay your bill.
• Many credit card rewards programs allow you to redeem your points or miles for gift cards, so that’s another avenue to get them with your credit card.

As more stores update their credit card security measures, you’ll probably see more and more places that let you buy gift cards with a credit card. But it’s always good to ask in-store before checking out, so you don’t end up being surprised.