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Who is eligible for having more than one credit card? Learn advantages and disadvantages

Tips for Credit Card: Nowadays the use of credit card is increasing very fast. In the era of increasing digitalisation, people have started using credit cards for every work like shopping, fuel filling, bill payment etc. Companies also bring different types of credit cards to woo customers. Many times people start using more than one credit card considering the benefits of credit card.

If you also hold more than one credit card, then know that keeping it has both advantages and disadvantages. So let us tell for which people only one credit card is sufficient and for which people need to have more than one credit card-

These people should only have one credit card
People who have only one type of expenses, it would be better if they keep only one credit card. If you have a new job and your income and expenses are less, then even in such a situation you do not need more than one credit card because your financial journey has just started. In such a situation, having more than one credit card and creating more debt does not make much sense.

Benefits of having more than one credit card
Having more than one credit card also has its advantages. For example, on any one credit card, you are getting more benefits on hotel and train booking, then on any credit card you are getting extra rebate on online shopping and fuel. Airport lounge access is also available on many credit cards. If you buy more than one credit card, keep in mind that each card offers different features.

This loss happens if you have more than one credit card
There are many disadvantages to having more than one credit card. Different annual fees have to be paid for more than one credit card. Many times people start shopping without thinking due to having more credit cards. In such a situation, later he gets caught in the debt trap. Every credit card bill is converted as EMI. In such a situation, a large part of your salary gets deposited in the form of EMI and due to this you have to face trouble.

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