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Top 4 Benefits of Having Multiple Credit Cards

BY Team Loanstreet

Updated 13 Nov 2019

1. Maximize Your Usage of Different Types of Rewards

These days, one of the most attractive aspects of a credit card is its rewards system. Some cards focus on rewarding frequent users with attractive gifts, some specialize in cash rebates for frequent shoppers, and there are cards for frequent fliers too! Seems like there are so many good offers to choose from right? Which one should you take? Well, who said you had to choose? By having more than one credit card, you can tailor your credit card usage to maximize the different rewards and adapt them to your lifestyle. For example if you find yourself purchasing a lot of petrol for your car, and at the same time you also travel abroad often, you can get one card specifically for petrol rebates, and another card for travel rewards. This way you can get the best of both worlds! Click here to find out more about how to choose the right credit card !

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2. Gives You Financial Flexibility in the Event of an Emergency

In times of emergency when you need more cash than you have on hand, having more than one card gives you more financial reach. For example, let’s say that you have one credit card, and it has a credit limit of RM10,000. Imagine that one day you find yourself in dire need of RM20,000 for medical expenses. Your one credit card won’t be enough, right? But if you have 2 credit cards you can have access to RM20,000 which will help you meet your emergency needs. Of course, it goes without saying that you should not abuse the usage of credit on multiple cards. Take care not to bite off more than you can chew! The point is that having more than one credit card gives you financial flexibility, allowing you to adapt to adverse situations like the one mentioned above. The onus is on you to observe financial responsibility with your cards!

3. It Can Help You Boost Your Credit Score Faster

Will having more than one credit card hurt my credit score? That’s a question that many people considering this issue have asked. Well fear not, dear reader, because the answer to that question is no! Having multiple credit cards will not hurt your credit score as long as you always make your payments on time. In fact, if you always pay your credit card bill on time, and you possess a low debt utilization ratio by using no more than 20% of your credit limit at any given time, having more than one credit card will actually help you build your credit score faster.

4. Flexibility with Credit Card Bill Payment

By having multiple credit cards, you can actually spread your payments over the course of a month, instead of just piling all the debt on only one card. By spreading out the payments over time, you can pay off your debt in bite sized bits to make them easier to manage. You can adapt the different interest rates of different cards to your personal payment schedule, for example, it may be a good idea to have a low interest card that you pay off over a few months, while a high interest card with good rewards can be used for daily purchases and its debt paid off in full every month.

Some cards also have interest free grace periods or free balance transfers within a certain time of purchase. If you find yourself having to make a substantial purchase that you have to pay over the course of a few months, you can consider signing up for a new card and transferring over the debt to this card to save on interest costs.


In order to have multiple credit cards it is crucial to be a responsible spender. Who is a responsible spender? Responsible spender is a person who thinks before make any purchase or in simple words is a person who knows how to manage to pay his expenses and debts. If you want to find out more about credit cards you can visit link.



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About the Author

Team Loanstreet

Run by a professional human-sized team, get resourceful tips & guides from our very own library of financial articles that can help improve your financial lifestyle & make a well-informed money decision. We strive to provide you with the best service in helping you to get the most out of that DUIT!


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