You might come from a school of thought that says that having fewer credit cards is better, but this might not be entirely true. Having a second or third credit card may be quite advantageous. 

What are some of the advantages of having 2 credit cards versus 1?

Having 2 credit cards versus 1 can be ideal as emergency credit, especially if you lose one card while travelling. You should make sure that you use it at least once a month to keep the account active.

There is potential for a better credit score. When you have 2 credit cards versus 1, your available credit goes up. You can also spend your balances between the two accounts. It’s best to keep your balances on both of your cards below 30% of their credit limits.

Different credit cards have different reward structures. You can benefit from different rewards programmes. You can choose which card to use, depending on the different rewards they offer.

Different cards offer different promotions.

You can have a separate credit card just for online shopping, making it easier to keep track of your spending.

While there are numerous advantages to having 2 credit cards versus 1, there are also potential pitfalls.

For instance, it also means that you have to work harder to manage both cards. To avoid late fees, make sure that you pay on time. You need to be diligent to make sure that you repay both cards on time.

It’s important that you keep track of your spending. It’s easier to run up debts when you’re using multiple cards. You need to keep track of what your credit limits are on both cards.

Keep in mind that your credit score may be affected if you start applying for many cards in a short period of time.