Why Should You Have More Than One Credit Card

Why Should You Have More Than One Credit Card?

Credit Card

Is It Beneficial To Have More Than One Credit Card?

If you never gave this query a penny of your thought until now, you may be taken aback. The answer may be lost in a nonplussed roll of YES and NOs. There is no fixed answer for this is a subjective contemplation which requires an individual breakdown of reasoning.

The answer depends on the cardholder and his or her ability to manage it with utmost responsibility. Having more than one credit card may either positively affect your credit score or negatively impact your credit score based on the cards’ management.

The main questioning factor of owning multiple credit cards is probably its impact upon one’s credit score.

While this concern airs, it is crucial to note that your credit score debt utilization ratio is relatively low in the presence of more than one credit card. A high debt utilization ratio is not promising for the credit score. Nearly all credit card specialists endorse the suggestion that it is advisable to prevent using more than 30% of your available credit per card at any rate. This makes it effortless for the credit utilization ratio to remain low.

How Is Many Credit Cards Considered Enough?

This, again, depends on person to person. Having multiple cards increases the ability to pair various reward points and other vital categories of expenditure. Owning at least one credit card, however, is and should be a requisite.

When it comes to the question of owning more than one credit card, it is essential to take note of your monthly discretionary budget. It requires the special credit offers and uses or if you are in favor of earning several reward points or other plus points through various cards.

If it is out of your affording aspect, you cannot benefit from two credit cards either. Having multiple cards to avail of the bonuses that come with it all at the same time is a common practice these days given the benefits that tag along with new cards. In doing this, one may incur management difficulties, which is why it is inadvisable to apply for more than one card all at the same time.

Another flawed characteristic of owning multiple credit cards is that the next issuer or lender may assume it to be risky and faulty to lend financial assistance to someone who already possesses many credit lines. This will consequently lower one’s credit score. Therefore, there is no fixed amount for how many credit cards one should own. The only preferable answer would be to apply for as many cards as you need and are sure of utilizing eliminating the rewards and bonus points, no matter how tempting.

Credit Cards To The Rescue

Different cards come with different interests. For instance, if you own a card that offers 10% cashback in flight tickets, you may have another card that offers a 20% discount with every purchase in retail stores. The implementation of this allows you to avail of all of your cards’ benefits, thereby positively impacting your financial expenditure.

Credit cards can come in very handy during dire situations of need as well. Let us assume that you land in an emergency health crisis unexpectedly. Credit cards can be a savior during such emergencies. The ongoing pandemic of COVID-19 has taught us more than anything that one should always be mentally, physically, emotionally, financially, and economically prepared for the worst-case scenario.

Owning credit cards can be manna from heaven when we least expect it to be. During this global health and economic crisis, which has also negatively hampered the income of many, having more than one credit card has only become increasingly important. Having more than one credit card means having a backup plan ready for the worst-case scenario or whenever the situation arises. Even if you don’t have multiple ones, maybe using a visa card generator could save you from specific credit card data situations.

The Heart Of The Matter

By now, it should be pretty clear that having more than one credit card can either grow to work in one’s favor or against their support, depending entirely on the management factors of the card by the cardholder. In many ways, this conflict is akin to the dilemma of whether the invention of the internet is a blessing to humanity or a curse. Naturally, it all depends upon how we use it. For those who use it in moderation and grow through it, it is a blessing.


For those who use it without limits and fall through it, it is a curse. Similar is the case of whether to own multiple cards or not as well. When utilized in moderation and availing the needed benefits, owning more than one credit card is a boon. Hence, the bottom line is, if you can make it work for you, it will work for you.


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