Having a credit card already involves good financial management, having two requires great discipline and self-control, but how many credit cards are too many?
Disadvantages of having more than 2 credit cards
Besides being an extremely disciplined person and having a perfect control of their accounts there are other disadvantages:
- The cut date will not be the same for all. You must make payments at different times of the month and that is when your money flow will vary throughout the month. It will be very difficult to organize or control the money.
- The costs of holding a card can be an extra expense, having more than two, is possibly unnecessary.
- Discounts and points to cardholders many times instead of saving you makes you spend on something that was not contemplated all for not missing such an offer.
How many cards?
In case your card will become lost or present charges that you have not done, take a few days to use it or get a new one. For that case having a second card is a backup.
But before you run to get an extra card, in case you already have one, think carefully about whether you can afford it (for that of the annuity costs). If it is really necessary to have 2 cards (for that of bad habits of consumption and that could be more a temptation than an aid).
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Credit history at risk
Having credit cards certainly, helps to maintain a credit history and start growing it. Having cards is not something good or bad in and of itself, it’s just a tool. However use them well or badly depends on each person.
The fact that you have more than two cards does not mean that you should use them. If it does not cost you anything to have them and not always carry them with you it is as if they did not exist. They can be used in emergency situations and help you carry on with a credit history that can be of most help in the future.
Advantages of having credit cards
- They are a great help for purchases that can not be made at the moment, but that bring great benefits.
- If paid on time, no interest is generated and the debt is not lengthened.
- If you have the economic fluency you can face the payments without a problem, no matter how many cards you have.
- The points and promotions can be excellent in case that if such service or product is needed. Not just to spend money.
- If you do not have your cards cost no matter if you use them or not, you should not pay annual fees.
Think Coldly Why do you need more than one credit card or two? Nobody likes to live to pay debts. Whether or not the cards are helpful or not depends largely on your spending habits and how organized your finances are
