With credit card companies such as Citibank (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and others raising interest rates on their credit cards, cutting limits and in some cases closing down cards without  any advanced warning, it’s more important than ever to have access to multiple credit cards.

This need was highlighted recently when many travelers tried to use their Citibank co-branded credit cards on the road only to find that their charges were denied. It turns out that Citibank closed their accounts without any advanced warning. Imagine how much of a pain it would be if that were your only available form of payment on a trip.

Citibank might have been the only company to close credit cards unannounced, but just about every major bank is limiting who they provide credit and how much credit they provide them. It’s not just sub-prime borrowers that are getting effected either. The Fair Isaac Corporation (FICO) recently released a report that showed that 70% of credit card users that had their cards shut down had good credit.

If having access to credit shut off isn’t bad enough, the San Francisco Chronicle recently reported that having a single credit card closed can result in a short-term drop of more than 50 points from one’s credit score. That drop could be the difference between getting approved or denied for a mortgage, car loan or other note.

Consumers can protect themselves and their credit scores to have multiple lines of credit from different issuers. If possible, get at least one credit card from a credit union and make sure to have at least 3 credit cards (if not  4 or  5) available to you in the event that one or two issuers decide to limit or eliminate your access to credit.