Kevin O’Leary: How Many Credit Cards Should You Have?

The “Shark Tank“ star has eight credit cards, but says you should have at least two. » Subscribe to CNBC Make It.: Many financial experts agree that utilizing credit cards in a responsible way is an important route to building credit, so that you can then borrow money at a decent rate for big purchases like a home or car. Even Kevin O’Leary, star of ABC’s “Shark Tank“ and a financial expert, who strongly advocates against taking on unnecessary debt, recommends swiping a credit card every now and then. And he has a strategy. “I recommend that everybody have at least two credit cards,“ O’Leary tells CNBC Make It. “The first credit card is one that has a very low limit, let’s say $2,000,“ O’Leary explains. “That’s the [one] you use on all the online services. If they get hacked, nobody can spend more than $2,000. That’s how you protect yourself. “The other