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capebretoner
Joined: 02 Aug 2006
Posts: 82
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 Posted: Tue Oct 23, 2007 1:41 am Post subject: More than one |
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What is the point on having more than one CC?
I was thinking about this the othe day, I currently have 3, one joint with my GF, one personal (not needed, but convient) and one for my home business
For this arguement I can assume just personal so I have 2
I really only need the joint one for expenses, and the personal one is just for ease of use.
So why do some people have a dozen of so?
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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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| Posted: Thu Nov 01, 2007 11:54 am Post subject: |
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There can be all sorts of reasons for having multiple cards. Some like to have Amex, Visa and Mastercard because not everyone takes all. Some have small credit limits on each card (or are at their limits) so want more credit. Some want to keep all expenses for a certain thing (eg. let's say, groceries) so they can easily monitor. Some like to take advantage of the latest offers, and then just stop using a card rather than cancelling.
For example, this last point... I already have about 3 or 4 cards, but I recently heard about one that is offering 4% cashback for the first 3 months. I have successfully applied for this and will use it for 3 months only. Should be very handy over Christmas, though.
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iFinancialAdviser
Site Admin
Joined: 28 Dec 2004
Posts: 1699
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| Posted: Fri Nov 02, 2007 4:05 am Post subject: |
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If you have only one card and if you lose it, what would you do? You’ll probably get by, but it’ll be a bit inconvenient, don’t you think? For this reason alone, it’s not such a bad idea to have three credit cards unless you start spending like crazy …
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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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| Posted: Fri Nov 02, 2007 11:24 am Post subject: |
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| iFinancialAdviser wrote: |
| If you have only one card and if you lose it, what would you do? You’ll probably get by, but it’ll be a bit inconvenient, don’t you think? For this reason alone, it’s not such a bad idea to have three credit cards unless you start spending like crazy … |
Yes... and a similar point... if you try to pay for something by credit card and it gets refused (which can sometimes happen through no fault of your own), then it can be handy to have a back-up.
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zuipen
Joined: 16 Feb 2008
Posts: 24
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| Posted: Sat Feb 16, 2008 4:28 am Post subject: |
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I only need one credit card and I only use it occasionally.
Is it financially healthy to owe more than one card? Aren't you tempted to spend more?
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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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