4 Benefits of Having Multiple Credit Cards

Many people choose to utilize multiple credit cards because of the many benefits that they provide. Although credit cards can get you in trouble, if you know how to handle them, they can be helpful as well. Here are a few of the benefits of having multiple credit cards.

1. Financial Safety

One of the major benefits of using multiple credit cards is that you will be able to take advantage of financial safety. By making purchases with multiple credit cards, you will be able to add a layer of safety to each purchase. For example, if someone steals your credit card or makes a fraudulent purchase with it, you will not be held responsible. You can simply call your credit card company and tell them that someone has compromised your card. At that point, the credit card company will turn off the credit card and you will not be liable for any purchases made with it.

2. Rewards

Another big benefit of using credit cards is that you can take advantage of reward programs. Most credit cards to they offer some type of a reward for making regular purchases with them. For each dollar that you spend, you will be able to accumulate a certain amount of reward points. You can then use these rewards to buy a variety of different things that you might want. For example, you might be able to use these points to purchase airline tickets, hotel accommodations, meals, clothing, and many other items that you need. With this type of program, you will be able to get something back for all of the money that you are spending. When you use multiple credit cards, you will be able to plan your purchases so that you can take advantage of the rewards that you really want.

3. Boosting Credit Scores

By utilizing multiple credit cards, you will be able to boost your credit score. When credit bureaus calculate your credit score, they will take notice of the different accounts that you have in your name. If you have multiple accounts and handle them properly, this is going to boost your score. This is especially true if you have balances on all of the accounts and you always make your payment on time. Steady payments have the ability to significantly boost your credit score over time.

4. Staggered Bill Payment

Another advantage of using multiple credit cards is that you can stagger your bill payments. If you have one credit card that you put all of your purchases on, you will have to come up with all of the money to make your payment at once. If you are paid once a week, this may not be helpful to you. By using multiple credit cards, you will be able to make payments at different times throughout the month. With this technique, you can lessen the blow of paying your credit card bill every month.

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