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Do We Really Need More Than One Credit Cards ?

Updated on May 15, 2009

Credit cards, who doesn't have it right now ? Almost everybody has it, we use it to pay all our bills, like phone bills, electricity bills, dentist bills, restaurant bills, you use credit card for your e-commerce transactions, even you need credit card to verify your paypal account and many more uses. Every month people rush to the bank to pay the credit cards bill, you receive your paycheck and you have to cut it for your credit cards transaction. I know many people who have more than one credit cards, first he apply it for himself, then maybe he has a wife so he apply the additional card for his wife. Or he already has one and the card is already reached its limit so he apply another one, and applying credit card is easy right now so he apply another one, then one, and more.

Obama Makes Push on Credit Card Legislation

What is it for actually ? Do we really really need more than one credit cards ? As you can see, the banks receive tons of different credit cards applications every day. The banks or the credit card companies assure the customer that they (customers) will receive many benefits from this kind of cards, they will receive rewards, points, privilege membership in elite clubs and many more. The credit card companies even launch different type of credit cards like student credit cards, business credit cards, gasoline credit cards, and etc. For example credit card A offers a free flights to an exotic destination, credit card B offers cash back, rebates, free dine in certain restaurants, Credit card C offers discounts in boutiques, free movies tickets, and hotel stays. Those make people tempted to apply more than one credit card type for the best deal.

Many Americans have more than three to five credit cards  A conventional American family owes credit card organizations $10,000 when an average household is only on $ 50,000. Credit card debt of an American makes 24% of the annual traffic and it is without mentioning car loans and mortgages. Financial experts are concerned about ever-growing American credit card debt. The crisis in the early 2009 is caused mostly by the mortgages and people all arount the world still fight it. I know that the economic is going better in this mid year, I hope the economic is back on its track.

How many credit cards you have ?

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But actually how many credit cards an average customer or family really need ?  Do the customer really need more than one credit cards ? If the customer has more than one cards, it will affect the people life style. People tend to be more consumptive and shop more.  And can the number of credit cards you own affect your credit history? Financial experts say that two or three credit cards are pretty sufficient for an average family. The main grounds is your outstanding balance. Outstanding match is one of the beforehand things credit card companies pay attention to. Keep in mind, your scale should be between 25% and 50% of the available charge on every credit card of yours. If you exceed your balance potential creditors are happening to deny your request for a credit.

Before applying for one further credit card, contemplate the fact too the more credit cards you own, the harder it is to carry on control of your balance. I am not kidding, many people have lost their "lives" because of this. They just live to pay their debts. Using 3 reward credit card deals, 2 gasoline credit cards and a business credit card deal at the same time, is so easy to lose control of your balance. Mind exceeding your balance on one of the credit cards you have, can impact your whole credit history. And you know how good credit history is important for your secure banking future. Besides, the even better your credit article is the more beneficial credit card deals you can count on. Consider your needs and purposes before applying for a new credit card. You hardly need ten different credit cards. Just think, you can use an economy credit card for your own purposes, a cash back credit card for purchases and a gasoline credit card to get some rebates on gas. Isn’t it enough? I think, it is. Mind, every credit card means debt. I mean, I am not anti credit card I need it to verify my paypal account but  don’t let your debt grow large and  become unmanageable for you. Don’t apply for more credit cards than you need. Credit cards are designed not to show off before your friends and colleagues, but to ease your life. So, next time when you get a new credit card application, ask yourself: Do I really need one more credit card?



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    • febriedethan profile image

      febriedethan 7 years ago from Indonesia

      Loriamoore, Congratulations for your zero debt! I agree with u, I still holding just one credit card for online transactions too! Thank you for visiting and wonderful testimony :)

    • profile image

      loriamoore 7 years ago

      We just keep one credit card, with zero balance on it, for those occasional online purchases, holding a reservation, etc. We took the Dave Ramsey Financial Peace class a couple of years ago and have zero debt.

    • profile image

      businesscards 8 years ago

      Thanks for the post, we will post your business card article. I will post for our

      customers to see your articles on your blog,business


    • febriedethan profile image

      febriedethan 8 years ago from Indonesia


      You're right. I absolutely agree with you. Use the credit card in a very wise way. I use it only to verify paypal and receive payment :)

      Thank's for your comment

    • prasetio30 profile image

      prasetio30 8 years ago from malang-indonesia

      For bussines man, or business owner maybe need more than one credit card. but We have to be aware with the big interest. more card more interest you have to pay.nice HUB.