When building and maintaining credit, a question that often comes up is: “How many credit cards should I have?” It’s understandable that people think there’s a formula or magic number that’s right for everyone. The truth is, like all things related to personal finance, the answer varies based on each person’s individual circumstances and goals. But there are some things to think about when deciding the number of credit cards you need.

The Size of Your Credit File

One thing to consider when deciding how many credit cards you should have is the size of your credit file. Credit scoring models need material to work with, and a “thin file” — meaning less than five total credit accounts — makes it harder for the scoring models to generate a score. That’s not to say all the accounts should be credit cards. In fact, a mix of different types of credit is ideal.

But more than the number of credit cards you have, it’s how you manage them that makes the biggest impact on your credit history and score. Provided you make on-time payments and keep your credit utilization below 30%, there are no penalties for having too many credit cards. But your score may be harder to calculate if you have too few.

Your Spending Habits

The more credit cards you have, the easier it is to get yourself into unmanageable debt. When deciding the right number of credit cards for yourself, consider how you plan to use them. Are you disciplined enough to pay off your balance every month? Or is it likely you’ll carry a balance — and accrue interest? Do you have a good grasp on your true needs and wants? Or are you an impulse or recreational shopper? Ask yourself all these questions and be honest with your answers. For some people, one or two credit cards are enough to cause financial distress, while others can manage multiple cards with ease.

Your Organizational Skills

The more credit cards you have, the more details there are to keep track of. Along with knowing your payment dates so you always pay on time, you’ll want to keep tabs on your account balances, interest rates and points or cash back balances  (if you have rewards cards).

If you’re someone who’s disorganized or can’t be bothered keeping track of details, fewer credit cards means less to keep track of and reduced your chances of making mistakes or missing payments. No matter the number of credit cards you have, set up automatic payments for at least the minimum payment required every month.

Your Financial Goals

Your lifestyle and financial goals can help you determine the number of credit cards you should have. If you crave adventure and travel frequently, it makes sense to have a card that earns miles to help you offset travel costs. Or maybe you’re more of a homebody who sticks to a consistent routine. In that case, you’ll want a reliable credit card that offers cash back for everyday purchases at your favorite retailers, such as gas, groceries, and your morning coffee run.

Remember though, no amount of rewards, miles or cash back are an excuse to use credit cards irresponsibly. Your credit and overall financial health will benefit the most if you pay off your balances each month. And if that’s not always possible, you will at least want to keep your overall credit utilization below 30%. Beyond that, your credit score can begin to suffer.