More card doesn't necessarily mean better but having only one or two card is not great either. It depends on your monthly debt-to-credit ratio. Most sources will tell you that it's highly recommended that you have below 30% of debt to the total amount of credit you have. For example, if all your credit cards combine adds up to $10,000 in available credit. It's frowned upon if you accrue more an $3,000 in debt every month without paying it off. Keep in mind still that a lot of things account in your FICO credit score. The important thing is to keep ALL your balances low and in control.
It's more beneficial to get bank reward cards (airline mileage, points rewards, or cash back) then to get store credit cards even with the "discount". I've listed some pros and cons below. For the most part, most financial sites will tell you that store cards are not very beneficial to have. However, if you are already approved for them, just hang on to those cards. There is no point in closing them if you already went through the hard credit pull and got approved for it. That is unless you get charged an annual fee. I still recommend using the bank cards over the store cards though.
Pros to Bank Rewards Cards:
- Use it anywhere.
- Easier to rack up rewards. Some banks cards offer up to 5% cash back on your purchases. Some also have bonus rewards for online shopping through them. Some cards such as the Chase Sapphire Preferred would allow points to points transfer to many airlines for travel rewards.
- Can be used anywhere that card (Visa, Mastercard, Amex, Discover, etc.) is accepted.
Cons to Bank Rewards Cards:
- Usually requires good to excellent credit to sign up.
Pros to Store Credit Cards:
- Discounts at initial signing up.
- Some store credit cards have in-store points rewards system that will give you purchase discount (ie. 10% off your next purchase) or store credit (ie. Nordstrom $20 Notes)
Cons to Store Credit Cards:
- Not all store credit cards will offer a card to be used outside of the store franchise itself. (ie. Express Credit Card can only be used at Express stores) Some store will offer more than one option of store credit cards. Take Nordstrom for example. There is a credit card that can be used only at Nordstrom stores, "Nordstrom Credit Card." Nordstrom also offer the "Nordstrom Visa Credit Card" which can be used anywhere they accept Visa cards. Most store credit cards are like the latter.
- Discounts is often only offered during sign-up. After that, any discounts received are far in between purchases or there's limitations.