Maximize Rewards And Bonuses: When shopping for a credit card, you will be confronted with a variety of different rewards and bonuses, all of which can be extremely tempting. If you are open to taking out more than one credit card at a time, you could benefit from various rewards and bonuses.

More Benefits: Maximize Rewards And Bonuses, Have an Emergency Fund and More

For example, the Discover It card gives you excellent cashback rates, and if you combine this with their Miles card, which offers travel rewards, you can take advantage of both rewards. For heavy credit card users, this could be very effective.

Take Better Advantage of Interest-Free Periods: Most credit cards will offer customers an interest-free period for a year or another limited amount of time. Imagine having this perk two, three or four times over. When considering the question “How many credit accounts should I have?”, it pays to think about what you intend to use the card for. 

If you need to make some larger purchases, spreading these across various interest-free periods will be a lot more lucrative for you. However, it is important to remember that interest will begin to accrue once the period runs out. For this reason, it is important to ensure that you have repaid what you borrowed by the time it ends. 

Have an Emergency Fund: In the event that you find yourself with unexpected medical bills or some other kind of financial emergency, having multiple credit cards means that you are able to spread the cost across them all. 

By Admin