1 Credit Card Vs. Multiple

We know that everyone around us is holding a credit card or cards! No one relies on cash or wants to have their wallet filled with money all the time. However, the question arises whether we should own one credit card or multiple? We will try to look deeper into this aspect and compare the pros and cons.


Having more credit cards can boost your credit score, only if you manage your cash and credit balance moderately.

Example: If you have one credit card, your credit limit is $2000 per month, and your expenses are 1800 then you will be utilizing 80-90% of your amount available, this gives a bad impression and affects your credit history. On the other hand, if you have multiple credit cards, with the limit up to $2000 then you can divide your expenses on all the cards and reduces debt utilization ratio; hence it does not drops your credit score. However, most importantly you have to be very careful about your interest installments of all the cards.


Having a variety of Visas can enable you to gain the extreme accessible rewards on each purchase.

Example: different credit cards provide valuable customers with rewards, coupons, and discounts on every purchase they make. If a person has a bunch of credit cards, then he/she has a variety of options to choose from. He/she can use the card, which will be offering more rewards and discounts. 


More credit cards is equivalent to better manageable life

Example: having more credit cards simply means that you can divide your business, household, and personal expenses on various cards and hence it proves to be beneficial. Otherwise, it will be difficult to keep tax records, or to manage your household expenses and check whether your business is doing well or not!

Multiple and consumer protection

Example: a few cards offer maintenance agreements on specific things and travel protection when you pay for travelling costs with your credit card. In addition, a few cards even give value drop insurance so that if the cost of the purchased drops within 90 days (or more with a few cards) you can be repaid for the distinction.


One card means less temptation to overspend

Example: if you have one credit card - you have to control your expenses more carefully in order to avoid debt. 


One card aims less debt

Example: In case you are the kind of individual who has a tendency to have your credit charged to the maximum, at that point the more cards you have, the more obligations you get.


One card is more manageable

Example: at the end of every month when you receive your credit statement, it will be difficult to manage each of them separately. More cards mean that you have to meet the deadlines with every card, and to be honest, this is difficult in this fast moving world! Therefore, with 1 card in your hand, there is less stress to face.