Here are clear advantages of having multiple credit cards that can help you save money, build credit, and manage expenses effectively:
Increased Credit Limit
Having more credit cards provides a higher total credit limit, helping you cover emergencies or make large purchases without financial stress.
Better Rewards and Cashback
Different cards offer various benefits like cashback, discounts, travel points, or rewards, allowing you to maximise savings across multiple spending categories.
Flexible Payments
With several cards, you can select the most suitable one for specific purchases, making budgeting simpler and keeping your finances organised.
Improved Credit Score
Managing multiple cards responsibly lowers your overall credit utilisation ratio, boosting your credit score and enhancing your chances for future loan approvals.
Backup Payment Method
If one card is lost, stolen, or declined, having another ensures you can still complete essential purchases without facing disruptions.
Interest-free Periods
Multiple cards enable you to spread your spending strategically across each card’s interest-free period, helping you avoid paying extra fees or interest.