In this work, we evaluate a multitude of metal-oxide bi-layers and demonstrate the benefits from increased memory stability via multibit memory operation. We introduce a programming methodology that allows for operating metal-oxide memristive devices as multibit memory elements with highly packed yet clearly discernible memory states. We finally demonstrate a 5.5-bit memory cell (47 resistive states) with excellent retention and power consumption performance. This paves the way for neuromorphic and non-volatile memory applications.