Benefits of having 2 credit cards - Not a few people who have more than one credit card in their wallet. However, having too many credit cards should be avoided.
Credit cards are very common means of payment because of their practicality.
"While I know there are some people who have 10 or more credit cards and can manage them well, that shouldn't be your starting point.
If you want to have more than one credit card, the ideal number of ownership is two credit cards. One credit card can be used as the main credit card and the rest can be used as a backup credit card.
Having too many credit cards can have some risks to consider. One of them is the owner is not able to manage all credit cards properly.
This inability can result in delays in credit card payments and inflated fees to be paid. This bad reputation can affect the ability of credit card owners to obtain important things such as home purchase loans and others.
“In general, the right amount is the number of credit cards you feel comfortable managing.
Here is a How many credit card should i have
In the United States (US), for example, the average person has four credit cards at the end of 2020.
1. Can I pay my bill in full and on time?
Before deciding how many credit cards you want to have, Rossman and Ewen suggest that each person first identify their own financial capabilities. People who use credit cards every day must be able to pay their bills in full and on time every month.
People who can't control their spending should not have a credit card at all. Therefore, identify your own abilities before determining how many credit cards you want to have.
2. Can I remember to check my credit card account?
When you have too many credit cards, it's easy to forget to pay some bills. In addition, the more credit cards you have, the greater the risk of being caught in a theft or fraud case.
Therefore, credit card owners need to take the time to regularly check all their credit cards every month. This is important to do to check whether their credit card is involved in a fraud case or not.
3. Will I continue to use my credit card?
Forgetting to use a credit card will result in account closure. This can have a negative impact on the credit card owner's credit score.
Those who have 21 credit cards have their own tricks to avoid this problem. Usually will put a reminder on the calendar to pay for something using a credit card that he rarely uses every six months.
After that it will immediately pay the bill on the credit card to avoid fines. He also uses tables to make sure the rewards he gets from his credit cards exceed the annual fees he has to pay for each card.
“Some people think that if I cancel my credit card, my credit report will disappear immediately. (In fact) positive information lasts up to 10 years, negative information up to seven years."