Credit card is one such financial product which attracts us a lot due to high discount on things, lot of offers and 50 days no interest loan. With the help of credit card, we can easily pay our bills. There is also an advantage of this that we do not even need to carry cash everywhere and through this any big banking fraud can also be put, but due to the offers available on different credit cards, many times people have lost their money. The question that comes to mind is whether they should have more than one credit card. If the answer is yes, then how should it be used? Let’s know…
When do you need a credit card?: It totally depends on your expenses. A lot of people prefer to have only one credit card and cash out what is a daily expense. If you are using a credit card for the first time and do not have any credit history, then you will not be eligible to apply for the Exclusive of Premium credit card. In such a case, you can apply for any normal credit card. With this, you can improve your credit score by paying bills on time. For new credit card users, it is advisable to keep only one credit card.
Benefits of having multiple credit cards at once: Each credit card comes with its own set of features and benefits. For example, some credit cards offer only travel-related discounts to customers, while some credit cards offer discounts on online shopping and fuel purchases. In such a situation, if you want to take advantage of all these offers, then you should have more than one credit card. It is very important to note here that if you miss to pay the bill of any credit card on time, then it can affect your credit score.
Tips for choosing a second credit card: For this, first you have to understand your daily spending and lifestyle, what do you spend more on. Accordingly, you should take a branded credit card. For example, if you travel a lot in flights, then it would be better for you to take an Air Miles credit card. At the same time, if you do a lot of shopping then it is good for you to take a shopping credit card.