How Many Credit Cards Should I Have?


In today’s time, where it has become almost impossible to fulfill the human needs, credit cards have come as the savior for those who love shopping to the core and cannot spend a single day without it. However, no matter how much the credit card is beneficial for you, there is always the negative side to it. Because of these credit cards, the majority of the people have no account of their spending, and hence, getting into the debts as they are not able to pay it on time. Therefore, it is always advisable that you must keep some limitations on your spending. This is also important when it comes to the question of keeping the credit cards. The more the credit cards you have, the more you will be careless in spending, and the more you will have the load to pay your credit card bills. There are chances that one question will be running into your mind, that how many credit cards should I have? So, to help you out in finding the answer of this question and along with some more tips for your benefit, here is an awesome article, you cannot miss to read. So, just read on, acquaint yourself with the right knowledge, so that you can protect yourself from unwanted load of paying the credit card bills.

how many credit cards should i have

Credit Card- An Overview

Most of you may have complete idea as what exactly the credit card is, however, there are many who still have no knowledge about the credit card. So, for those, credit card is one, which is issued by a credit card provider services, and can be used to shop online or to pay for things. Moreover, you can also use the credit card to transfer money between the accounts or sometimes for taking out the cash from an ATM.

Whenever you get a credit card, you are always given with a credit card limit. It means that you can only spend this much amount, as mentioned in the limit, in a month or in a year, whatever suits you. However, it is advisable that you do not cross your credit card limit, and preserves some of the credits always on your card, so that they can be used if you need to pay some interest.

It is mandatory to pay your credit card bills each month, in most of the cases, however, if you failed to do so, you will be charged with interest that will be applicable on your remaining amount.

What Is The Difference Between A Debit Card & A Credit Card?

The majority of the people still do not have any idea of the differences between a debit card and a credit card. The major difference between the two is that, if you are using the Debit card, then the amount will be deducted from your account at that instant. It means you are using your money that is saved in your account to pay your bills via a debit card. On the other hand, if you are using a credit card, the amount from your bank will not be deducted instantly, but you have to pay for that amount later, mostly at the end of the month.

How To Increase Your Credit Card Score?

This is the one important technique, of which you must be fully aware. We know very well that the credit cards help you to buy things you cannot afford at that point of time, but it does not mean that you finish off all your credits every month. You must always save some of the credits on your card, thereby increasing your credit card score. To increase your credit card score, here are few tips for you.

Try To Pay Bills Before The Due Date

It is always for your benefit to pay all your credit card bills before your due date. Doing so will decrease your utilization rates and hence, there will be a huge increment in your credit score.

Pay For It Multiple Times

This is one of the best options, for which you can go for. If you are a regular user of the credit card, make it a habit that you pay your bills on the Friday of that week. Doing so will not leave an unnecessary burden on you and will also increase your credit score.

How Many Credit Cards Should You Have?

This is one of the most important questions, of which you must know the answer. Typically, there are no limitations on how many credits cards you should own. However, for your benefit, it is advisable that you go with the two credit cards.

Of these two credit cards, one should be for the regular use and the other one for the emergency use. The one, which you will regularly use , can be used for daily shopping, grocery shopping, and many other day-to-day things. However, it is still advisable that you pay your bills weekly, as informed above, or at least multiple times in a month. Doing so, will not give you unnecessary load and increase your credit score.

The one you will use for the emergency conditions can be used, if any medical condition arises, or some other emergency conditions. Doing so, will keep everything balanced and protect you from the unnecessary burden.

However, still there are no restrictions or limitations on how many credit cards you should own, but it is advisable, for your benefit that you must have only two.

So, it was all about the credit cards and the number of credit cards you must own. The decision is yours, so take it wisely. It is solely your responsibility to protect yourself from unnecessary and unwanted debt because at the end you are the one who is going to pay for it.