In order to compete for customers, major banks continue to launch various credit cards (debit cards). Many cardholders want to apply for this card or that card, but they end up unknowingly. I have applied for many credit cards (debit cards), and some have even applied for more than 10 credit cards (debit cards). What I want to say here is that the more credit cards (debit cards) you have, the better. Especially if the number of credit cards (debit cards) exceeds 10, it may bring some bad consequences.

1. It is not conducive to management

It is very troublesome to manage too many credit cards (debit cards). Whether it is swiping cards or repaying, it is easy to have more than 10 cards. Mixed, for example, I originally planned to swipe the card at a later date, but ended up remembering the wrong billing date, not swiping the card I was supposed to swipe, and swiping the card that had already been swiped several times. When repaying the loan, you either got the wrong repayment date, or you paid the wrong credit card (credit card).

2. Impact on personal credit

This is actually a continuation of the first point, which is to confuse the credit card (credit card) repayment date and the credit card (credit card) that should be repaid. If you haven’t paid it back, it is very easy to be overdue. The consequences of overdue payment will not only be high penalty interest, but also affect the credit record of the cardholder. Even if the debt is paid off, the bad credit record will not be eliminated until it is kept for 5 years. .

3. Rejection of loan or card application

The bank sets a maximum credit limit for everyone, and the credit limit of each credit card (debit card) will occupy the total Credit limit, if the remaining credit limit is not enough, whether you are applying for a loan or a credit card (credit card), the bank will reject it on the grounds that the credit card (credit card) credit limit is too high.

4. It is easy to be stolen

Having more than 10 credit cards (debit cards) will cause certain security risks, especially if the card is accidentally lost and picked up by criminals. Steal information and make fake cards for fraud. Even if the cardholder reports the loss in time after the card is lost, the bank still has card loss protection, but it may not be able to compensate the cardholder 100% for the loss.

How to maximize the value of credit cards (debit cards)? This is a technical job! If you use a credit card (debit card) well, it can not only alleviate the problem of financial stress, but also make money through financial management.