Introduction: Nowadays, almost everyone has a credit card, and many people also hold multiple credit cards. Some people do it to swipe their cards to make purchases, some people do it to make money from banks, and some people even do it to cash out. Are more credit cards better? How many sheets should I hold?

What are the benefits of having more credit cards?

1. Interest-free period for the longest period

Everyone who frequently uses credit cards knows that each credit card has a billing date and a repayment date. When the bill is issued, the card is swiped to make purchases free of charge. The interest period can be the longest. However, the billing date only comes once a month, so it is advantageous to have more credit cards at this time. Set the time span of the billing date so that every time you make a purchase, you can choose a card payment closest to the billing date to achieve the longest interest-free period. .

2. Enjoy more discounts

Many credit cards have cooperation with merchants, and you can get discounts when you go to designated places on designated dates. There are also various gifts such as cash rebates for swiping cards and points redemption. If you have more credit cards, you can enjoy more discounts on food, drink and entertainment than others.

3. Large-amount capital turnover

One of the biggest benefits of credit cards is that they can solve the problem of capital turnover. The formal way is to obtain funds through cash withdrawals with credit cards, but more people Use credit cards to cash out to obtain large amounts of funds for turnover. Since each credit card has a limited credit limit, if a card has a limit of 30,000, then if there are more credit cards, the total credit limit will be higher, and the more money can be used for capital turnover.

What are the disadvantages of having too many credit cards?

1. It is not conducive to card management

If you have too many cards in your hand, it will be more troublesome to manage. Each credit card has different billing dates, repayment dates, annual fees, installment fees, overdue interest, etc. If you have too many credit cards, you can download some apps to manage credit cards. The billing date and repayment date will be clear at a glance, and you can proceed in a timely manner. Repayment reminder.

2. Credit card annual fees

Most credit cards have high annual fees of several hundred yuan. Although many can reduce the annual fee for the next year by swiping the card, but if your There are too many credit cards, and some credit cards have been idle for too long. You may have forgotten whether you have reached the number of purchases. After the card swiping time has passed, you will have to pay expensive annual fees.

3. Credit card overdue risk

Since the repayment dates of credit cards are different, if you hold multiple credit cards, it means that you need to remember more repayment dates. If you are too busy and forget to repay, it will cause overdue payment. Not only will you have to pay late fees, but it will also leave a stain on your personal credit report.

4. Excessive overdraft risk

The more credit cards you have, the higher your total credit limit will be. Some cardholders have poor self-control and like to spend a lot of money. They happen to have a credit card in their hands, so they overdraft, resulting in a large amount of debt.

5. The consequences of cashing out illegally are serious

What should I do if I can’t afford to pay off the overdraft? Many people like to use their credit cards to maintain their balance. Once they cannot afford to pay off their A card, they will use their B card to cash out. From then on, they enter a vicious cycle and can no longer escape their dependence on credit cards.

In fact, it is illegal to cash out a credit card, and most cash-out banks are aware of this. They will reduce your credit limit and block your card, or they will hold you legally responsible.

How many credit cards should a person have?

Since having more credit cards has so many benefits, but also many hidden dangers, how should we weigh the pros and cons and how many credit cards is appropriate?

1. In terms of working years

If you have just started working and your income is not very high, it is recommended to get a card for emergencies and to develop your own credit.

If you have worked for 3-5 years and have a certain amount of savings, it is recommended to apply for 2-3 credit cards to meet your daily needs, and you can also make some investments such as card maintenance.

If you have worked for many years, have a house, a car or a boss, 3 or more cards are acceptable because you have the ability to consume and repay.

2. In terms of card limit

Each bank will provide different card limits based on personal credit information, but for us, there are undoubtedly too many cards. It will cause management trouble. Therefore, it is recommended to keep a few credit cards with larger limits and frequently used ones. This will also make it easier to maintain the card and increase the limit.

3. In terms of identity,

If you are an ordinary cardholder with no special needs, your credit card is only used for daily shopping, and the monthly bill amount is not much. , 1-2 credit cards are enough, but too many will be difficult to manage.

If you need to travel frequently, or even go abroad, business people with a certain financial ability are recommended to hold 3-4 credit cards. Among them, you must have a dual-currency credit card with the VISA logo to facilitate overseas consumption. You also need a high-end platinum card from a bank, which allows you to enjoy VIP services on high-speed rail and airports, discounts on star-rated hotels, redeem points for air miles, etc. It can bring VIP-level services and is a symbol of status.

If you are a businessman who often needs large amounts of capital turnover, it is not an exaggeration to apply for more than 5 credit cards. As long as you manage your credit cards well, make reasonable use of the billing days to optimize the configuration, and do not cause any mistakes due to omissions. Just overdue.

In short, the number and configuration of credit cards should be based on personal needs, and the one that suits you is the best. Only by properly managing and utilizing the advantages of credit cards while avoiding credit card risks can you maximize your benefits.

How many credit cards do you think are suitable for you? What is your main use for credit cards? Do you have any tricks for using cards? Everyone is welcome to leave a comment at the end of the article to share and exchange!