Should You use multiple credit cards or Not? [Pros and Cons]

by Hamid
multiple credit cards

If you use multiple credit cards or are thinking of using them, then you must read this post. Today we are going to tell you about some advantages and disadvantages of using multiple credit cards which is very important for every credit card user to know.


Nowadays credit card is used by every financially stable person whether it is a businessman or a job person because credit card allows you to spend according to your desire.


But you need to be very careful and financially disciplined while using the credit card or else the credit card companies can charge you a lot of high interest.


In this post, we will also know how does having multiple credit cards affect your civil score and your credit profile and what are its disadvantages and advantages that all credit card user should know.

Table of Contents

Why do people use multiple credit cards?

Every credit card user should know that whenever you do shopping or financial transaction anywhere through a credit card, your amount is not deducted from your bank account but your payment bank statement is generated after one month.

And even after that, you get 10 to 15 days to pay that money that’s why every credit card user should know this important thing and because credit card we all keep money in our bank account without allowed to do multiple transactions anywhere. That’s why instead of using one credit card, people use multiple credit cards so that they can do more and more transactions.

Another reason for using multiple credit cards is also that nowadays the trend of using more credit cards among the young generation and their friends has started which seems quite cool.

But the matter of concern is that those who use multiple cards do not even have the correct and complete knowledge of it, due to which they have to face a lot of financial loss.

So today we are going to tell you about both the pros and cons of having multiple credit cards.
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Disadvantages of using multiple credit cards

 Let’s first discuss the disadvantages of using multiple credit cards—

Using Without Backup

If you do not have the money to repay the credit card loan, but still you are using it, then it can become a big risk for you.

If you do not pay the credit card bill on time, then companies levy an interest rate of up to 40% on you, due to which you may have to face a lot of trouble.

It means you should only spend as much as you can pay. If you use it with discipline then it is right otherwise you can get into big trouble. It is also said to not use multiple credit cards because you have available more options to spend your money so the chances are also high to spent more money, that’s why it is advisable to do at least a card transaction.

Hidden Charges

There are so many service charges and hidden charges on using a credit card that the normal user is not even aware of.

Whenever you make an online payment, you are charged a lot of charges, which you do not even know.

Some people face a lot of loss by falling into the trap of attractive offers because such offers enter the market with a lot of hidden charges while doing more.

That’s why you need to be careful while using multiple credit cards and especially. when you buy something online because of attractive offers because at that time very heavy charges are levied from normal users which we are not aware of from these types of offers.

Difficult to manage multiple credit cards

If you use more than one card, you will also have to manage different card billing cycles and statement dates and make timely payments for all these cards.

The problem with this is that it becomes very difficult for a single person to manage all these so that you will forget to make payment of any one card so that you may have to face financial loss.

This is because when you use different credit cards their due date of payment is also different that’s why you have to remember. All those dates but if you forget then very heavy charges and interest rates are levied on you due to which you lose a lot of money.

And it happens quite often in using more cards, I am a normal credit card user who often forgets to pay the bills on time. So I do not recommend you to use multiple credit cards.

When you do not pay the bill on time, it directly affects your civil score or credit score, so your credit history also has a negative impact, so the less you use the credit card, the better it is for you.

Credit Card’s Annual Fees

If you do not have a lifetime free credit card, then you will have to pay yearly fees on each card every year. By the way, many companies also waive off your annual fee on fulfilling their target.

For example, suppose your yearly target has been met to spend Rs 1 lakh, then if you spend the entire Rs 1 lakh in 2 years and if your annual fee is 1000rs it is waived off.

But the problem is that if you do not use the credit card so much and if you are not able to meet your annual target, then it can turn out to be a loss-making deal for you.

The disadvantage of using multiple credit cards is that if you are not able to spend the same amount as the spending limit, then you will be charged extra money, which is different from you on each card, thus using multiple cards can waste a lot of your money.

Unnecessary Spendings

Many people start buying a lot of unwanted things only if they want to meet the target, due to which they lose a lot of money.

For example, if you have an annual target of 1 lakh rupees for a full song and by the end of this year you have spent only ₹ 70000, then you will start spending ₹ 30000 on unwanted things so that your target will be met and I think that is also one of the disadvantages of using multiple credit cards.

Advantages of using multiple credit cards

Now let’s talk about the advantages of using multiple credit cards—

Use More Benefits

If you use multiple credit cards, you will get the benefit of more deals and offers. Every credit card user wants to get good discount offers so when they get to buy something at a discount, they buy it quickly.

The advantage of having multiple credit cards is that if you are not getting good offers on one card of one bank account then you can try on another card.

In this way, you will get an attractive offer on any card and this is the advantage of having multiple cards. This benefit fits both online and offline.  It means whether you are paying online or paying offline, you will get the benefits of a credit card to avail on both places.

More Credit Limit

If you have more credit cards, then the credit limit for spending your money will also be much higher than a normal user.

Suppose you can spend 2 Lakh rupees with one credit card means your limit is only 2 Lakh but if you have five cards then your limit will be 10 Lakh means you can spend up to 10 Lakh.

But I advise you that you should use your money only when needed and not on extravagant things. Because if on one hand, they have advantages, on the other hand, there are also some disadvantages which you should keep in mind.

Low Credit Utilization Ratio

This point is also related to the credit limit, so suppose if you have 5 credit cards and each has a limit of 1 lakh, then according to the credit utilization ratio. You will be combined the limits of all your cards and the total limit will be 5 lakhs.

This means that you no longer need to utilize just one card, but if you use even 30% of your combined credit limit. You get a very low credit utilization ratio on it.

When you use multiple credit cards, the rent you charge for utilization is significantly reduced. Which proves to be good for your profile in the long run.

Improve your civil score

As I mentioned that using multiple cards increases your credit limit. Which reduces your credit utilization ratio significantly and it puts a positive impact on your profile.

In this way, your credit score will improve soon and your credit card limit will also be increased soon.


In this post, I have told you both the advantages and disadvantages of using multiple credit cards. Apart from this, I have also discussed some important points related to credit cards with you in this post.

So now I hope that you have found the information useful for you.

If you have any questions related to this post then you can ask me in the comment box.

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