Skip to content

Apply Credit Card For instant Approval – No Joining Fee | Creditpay

Home » How many credit cards should I have

How many credit cards should I have

Credit card

Is credit card a lifesaver or not? Carrying a credit card will help when you are out of money and looking for quick funds to pay bills, shop, travelling, etc. Credit card is a lifesaver, and money savers. Also, it depends on spending habits and saving according to the person expenses. As per experts, the average American holds minimum of 3 credit cards according to a survey. But, in every country several people carry 3-4 credit cards to maintain a good credit score, etc. Always know your monthly spending habits and pay all the bills on time to save yourself from debt. The question is how many credit cards I should have or whether carrying a multiple banks credit card is good for your credit score when swiping on every purchase. Let’s discuss the below points.

Is it reasonable to maintain several credit cards?

Carrying a different bank’s credit card can allow you more spending to earn points, miles, or cash if you have a reward, a cashback credit card. Credit score is a significant concern about having several bank credit cards. However, carrying more than one credit card will help you to increase your credit score. To enhance your credit score, avoid using more than 30% of your available credit score; keeping your credit score ratio high is easier.

The issues carrying multiple bank credit cards.

Credit card application: All the applications for credit cards find hard inquiries. It can lower your scores by a few points, and the effect is small. Also, applying for several credit cards quickly could be a big sign of credit risk for future perspectives because all the hard inquiries will add up.

Handle multiple billing cycles: The more credit cards you have, the more due dates of the bill to keep track of your card. One solution is automating a card and making payments or changing due dates to align with paydays to ensure all the bill reminders.

The blow to your credit score

Having multiple bank credit cards can impact a negative credit score because it may look unsafe to financial lenders. Your credit score lowers automatically, even after paying all the bills on time. However, a low credit score can make you look like a potential liability to another financial lender. It is best to apply for a credit card that you can justify your monthly income, and it’s all based on your credit score to pay all bills and due amount on time, especially when you are holding multiple bank cards and do not want to the significant impact on your credit score.


Not one but several advantages of carrying multiple bank credit cards, and if you manage all credit cards responsibly, it will work for you. Always be aware of the latest gift vouchers and card offers to win on every swipe because sometimes, having multiple bank credit cards, we must remember our coupons. Use every card to your best advantage and make sure about the card payment due dates.

Leave a Reply

Your email address will not be published. Required fields are marked *