The phone rings and on the other side of the line a very friendly voice offers you a card with good interest rates and exclusive benefits. “How cool!” Is your first thought, but then an emergency siren starts ringing in your head reminding you that you already have a plastic. “Would it be so bad to have two? Or three? Well, more than five I will not pass, ”you think again.
This is the question that torments many
Because it turns out that they used the White Rabbit credit card comparator and found the card with the lowest rates but they were also encouraged by another with good benefits. So is it worth having more than one credit card? Does it represent any danger? What must be considered?
First, the problem is not in the number of cards you have but in the use you make of them. The cards are not only charging you for what you consumed, but also the interest that generated and also includes billing, billing (annual) renewal, insurance, etc.
Suppose you have three cards and use only 20% of each credit line, you are still paying for the sending of the three statements as well as the other expenses. So, wouldn’t it be better to have two and spend 30% of each line of credit? Or have only one and spend 60%?
If your doubts are on the side of the benefits they offer
Then you should consider what your profile as a consumer. Evaluate what are the benefits you get to use and which only caught your attention at the beginning but in the end it didn’t matter. For example, if you like to travel then it is very useful to keep a card that allows you to earn miles. If on the other hand, you do not have a car and you have a card whose only benefit is to give you a discount at the gas stations, it is not very useful, is it?
Taking this information into account will allow you to decide the number of cards that are convenient for you. Finally, follow these tips:
- Keep a strict control of your due dates, total amount of the credit line, etc., in order not to delay you and end up paying more.
- Do not allocate more than 30% to the payment of your debts.
- Do not get carried away by the offers that each of the cards brings.
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