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5 Reasons Why You Should Have More Than One Credit Card

5 Reasons Why You Should Have More Than One Credit Card

With the rising acceptability and prevalence of digital transactions and online modes of payments, owning debit and credit cards is nothing short of a compulsion. Though credit cards are still an emerging trend in our country, with a mere 19 million active cards as against 350 million debit cards in circulation, their benefits, particularly during financial emergencies, are unparalleled. Hence, their usage is undoubtedly on an upward graph.

Now, the next prominent question for any credit card user is whether one such piece of plastic is enough or conversely, is it better to have multiple credit cards in your wallet? If you have ever spent months clearing off massive credit card debt, you will agree with the former. But for all others, there are several advantages of the latter to consider before reaching a decision. Here is a list of reasons that will assure you why having multiple credit cards is a safer strategy.

1. Improved Credit Score

The effect on one’s credit score is the first and foremost factor to contemplate. The more the number of credit cards, the higher is the credit card limit, so it is always beneficial to use the Credit Card Generator and get a number of cards. If you organize your finances efficiently, pay your bills without fail, maintain a stable rate of spending, and spread the expenses on 2-3 cards, your credit utilization rate will be below


A higher credit limit and lower utilization will bolster your credit score and assist you in obtaining loans at cheaper interest rates and for a longer tenure, proffer you with the negotiation power, provide discounts on loan processing charges, grant higher credit card limit, and also, improve chances for quicker approval on future credit instruments.

2. More Credit Cards, More Rewards

Different credit cards come with their own set of varying advantages. One cannot enjoy all perks on a single card. For instance, a travel credit card is beneficial for a frequent flier as it provides complimentary access to airport lounges along with a range of discounts, benefits, and deals that would cut down the travel costs tremendously. 

Similarly, for a shopaholic, a credit card specific to shopping is a match made in heaven by administering discounts via reward points. Consequently, for someone with a specific lifestyle and spending pattern, having multiple credit cards is an ideal strategy to earn the reward points or benefits structure offered by the banks just for using the card.

3. Always Have A Backup Option

Consider a scenario where you are on vacation in an exotic country with your family and are having a gala time, enjoying a luscious lunch with your little ones. At the end of your sumptuous meal, you handover your credit card to the waiter for payment. Unfortunately, the credit card is declined due to unforeseeable reasons. 

There is a sudden state of panic where you splurge through your wallet for the requisite amount in cash but are unable to gather enough money. In such circumstances, it would be perfect for you to have a backup card ready at your disposal. Alternatively, one could lose their primary credit card, or it might get stolen. Having another credit card helps in nullifying the waiting time for a replacement card, primarily if such an unpropitious event occurs while you are traveling.

4. Financial Flexibility

Multiple credit cards equip you to deal with any financial emergency without facing adversity. Suppose, you need to buy an international air flight ticket immediately for a work trip, or a friend is in dire need of money for medical treatment, or your car blows out in the middle of nowhere. You will be in the lack of more than usual funds in all the cases, as mentioned earlier, and your primary credit limit may not be sufficient to make the payments.

Boy, will you be glad if you had another credit card in such a situation! Splitting your expense over multiple cards might be the only solution to these sudden obstacles without maximizing the credit on any of your tickets.

5. Safety First

Cyber theft and money laundering scams have become common phenomena nowadays. If your credit card is used fraudulently, you can notify the credit card company about the fraud and not pay for the lost amount till the time the company resolves the issue. But what happens if some legitimate expenses for which you have scheduled payments bounce off? The whole process of the bank investigating the situation is long and tedious.

Furthermore, your credit card might get maxed out, or your bank might believe there is some problem with your payments and shut down your spending. It would be wise to have another one or two credit cards handy in the before-mentioned situations to make the immediate payments so that you do not run out of gas and money at the same time!


While purchasing a second credit card, make sure to buy tickets with ranging benefits and from different banks, keep track of your payment cycles on the respective maps, and do remember to carry all your cards to match the acquisition to the card type! Taking the dos, as mentioned earlier and don’t take into consideration, go, and increase your credibility by using multiple credit cards!