Benefits of Using Multiple Credit Cards. Top Benefits with Multiple Credit Cards

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Posted By PAVZI
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The use of credit cards has increased tremendously in recent times. Most transactions are now done through Rupay, Visa, and MasterCard credit cards. As banks and credit card issuing organisations are issuing cards more easily than before, many people are using more than one credit card. But is it better to use multiple credit cards? Does it have any benefits? In this text, we will learn how to use more credit cards effectively.

Every credit card issuing company offers an interest-free period between the date of the transaction and the due date of payment. If you use credit cards properly, you can get an interest-free period of almost 50 days. Those who use more than one credit card should think strategically to make the most of this period.

For example, let’s say Suresh has two credit cards. Credit card X’s billing cycle ends on the 15th of every month, and the bill can be paid until the 5th of the following month. If Suresh purchases an item on the 14th of the month, they will only have a 21-day interest-free period. However, if they make the same purchase on the 16th of the month using credit card Y, the interest-free period will be around 50 days. Suresh can maximise their interest-free period by using one credit card for purchases made at the end of the month and another for those made at the beginning of the month.

Using different credit cards with various rewards, discounts, and cashback offers can also provide many benefits, from online shopping to fuel purchases and flight tickets.

Having more credit cards can also keep your Credit Utilisation Ratio (CUR) under control. The lower your CUR, the better your credit score. If you don’t pay your credit card bills on time, you may have to pay high interest on them. A credit card balance transfer can be used in such a case. If there is a balance on the first card, it can be transferred to the second card. It will take some time to pay the bill, but there are some fees.


Hi, I'm Pavzi. I have 15 Years of Experience in the Financial Industry; here, I have posted various Financial Updates and Money Matters with How-to Guides according to the Latest Fintech News updates.

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