When we are talking about credit cards, I advise you to keep more than one credit card as it will beneficial to hold more than one credit cards, then to rely on a single credit card for all your purchases.
Perhaps one of the most important reasons to carry multiple credit cards is that in case if your credit card is denied due to any given reason, like may be your card is being maxed out or blocked by the card issuer. I have faced such situations where my credit card was denied just because of the reason that I had made a series of large purchases in a short period of time.
When I face such situation then instead of walking away denied, if I had another card I could have pull out it to complete the transaction.
There are many other examples when a merchant won’t accept a particular type of credit card, like there are such merchants who do not accept any payment made by using an American Express card and there are a number of different reasons due to which merchants refuse to accept AMEX.
So in order to avoid any refusal, it is quite a sensible decision to have a backup, especially if you typically use an American Express credit card as your payment method of choice.
For most of the purchases I use an American Express, but sometimes I need to buy certain things from such places where AMEX is not acceptable as payment method so there I have to pull out a Citi MasterCard or a Discover Card to fund a transaction.
Let us imagine a situation where you are out of cash and your credit card is also not acceptable.
If you carry multiple credit cards, it will help you to avoid using your debit card for transactions, non usage of debit card clearly has its benefits.
I try to avoid using a debit card and behind this there are many reasons. I only use it when I don’t have any other way to pay off.
Less purchase protection is carried by the debit cards as compared to the credit cards and moreover no incentives such as rewards or cash back
They are also directly linked to your important banking accounts. So if your credit card land in wrong hands it can spell big problems.
After all, a new credit card is easily issued than a new checking account if it’s compromised.
Lastly I must say that, credit cards may serve different purposes, such as one card focuses on gas rebates, while another might give you a huge incentive for buying business related expenses.
Make sure you’re getting the most out of your credit cards, and using the right one in the right situation.
That said, you don’t need to go open a new credit card just because you have one card.
Just make sure you carry a backup if you’ve got one, and make sure you leave spare or unused cards in a safe place if you choose to keep them at home.
Related Links
People who liked this Post also read
You might also like
 |
 |
 |
 |
{ 0 comments… add one now }