Benefits of Having Multiple Credit Cards

Benefits of Having Multiple Credit Cards

The following are few significant benefits of having multiple credit cards:

Multiple credit cards offer you with extra flexibility and handiness

When you have a less credit limit on a single credit card, holding more than one card can be beneficial

You can take an extended interest-free credit period if your cards have dissimilar billing dates. For an instance, Card X has a due date during the start of the month and Card y has it at the month end. Then you can shuffle spending between the cards so as to aim maximum credit period

Different credit cards can help you gain various rewards/points/cash backs for transactions which may be valuable to you.

Several cards come with a limited number of access to airport lounges, so holding multiple cards may let you to gain access airport lounges several times

If you are a trust worthy user of multiple brands, then is valuable for you to hold co-branded credit cards of those brands so that you get reward points for your usage.

Holding multiple cards may help you build credit history and improve your credit score. Credit utilization ratio is a vital determining factor of your credit score. Owning multiple cards can benefit you handling your spending between the cards so that your credit utilization ratio is maintained ideal. A lower credit utilization ratio make certain your credit score remains high

If your pay your credit card bills as per the due date and if you pay up the whole amount each time, you may be representing yourself as a person with good credit practice. This will reflect on your credit score positively.

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