Credit Cards Pros and Cons

Agencies like bank, financial institute are offering their clients to opt for another credit card even if they already have, to generate more business by them. Customers are also trying to get as many cards so that they will be able to have more credit limit. But the question is having a lot of card is good option for the customers or will it create future problems to their users. Let’s figure it out by discussing the pros and cons of having many cards.


If a customer has many cards then it is very obvious he’ll have good credit limit if he required on the time of uncertainty. But need of number of cards required only at the time when your card don’t have sufficient limit. So if you repaying your debt on time it will enhance your credit reputation. Banks may extend your card limit so you don’t need number of cards with increase in high interest rate.

Credit Cards Pros and Cons

As we all know we use cards mainly for the purpose of shopping and online ordering. Often we have seen that different shops and site required different company’s cards. So customers with single card may face problems during the time of purchasing and option of multiple cards provides backup support to the customer at the time of technical defaults.

With the different card option, cyber-crime or e fraud can be protected. Customers can impose limit restriction on their card limit so if anything happened like hacking it will not exceed the limit.

Different companies offer different and unique proposals to their customers like free movie ticket, % discount on shopping, paying their bills etc. So holders can enjoy the free or discounted facility provided by the companies.


Customers with several cards frequently face problems like maintaining their bills. CIBIL is agency which keeps track of all records of customers for the proper payment. If you miss one single payment it will impact your repayment of debts reputation. So be very accountable if you have more credit cards.

With more credit cards gives you more purchasing power. It can cause a lot of wasteful expenditures directly impact to your credibility. So you might not be able to pay your installments on a regularly basis cause lower rating by the companies and as well as it needs a lot effort by your end to manage all details of your cards likes repayment date, cards limit, interest charge by banks or companies.

So, it is not yet decided how much number of cards is required to fulfill the needs of the customer. It’s all depends upon the requirement of the clients. But before going for multiple card option you should analyze and calculate all the risk and benefits involve in it.  More info:

One thought on “Credit Cards Pros and Cons

  1. I have always been a huge credit card fan. They allow me to keep my money in my high interest savings accounts for the month, collecting interest for that period of time, and then I pay the credit card off before I incur interest. Furthermore, I get a lot of points through credit cards which allows me to travel for pretty much free. So why not? But if you don’t use them in the right way, it’s bad news.

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