Are You Using Credit Cards A Lot? What Is The Problem?
Credit Cards: Do You Have More Than One Credit Card? Are You Facing Any Difficulties? How Many Credit Cards Can A Person Have? What Problems Can Be Caused By This.. Now Let’s Find Out What The Experts Are Saying.
Credit Cards: The Use Of Credit Cards Has Increased Tremendously These Days. Many Banks And Non-banking Institutions Are Issuing A Wide Range of Cards With High Limits.. Without Documentation. As a Result, The Number Of Takers Has Increased. Many People Use More Than One? And How Many Credit Cards A Person Can Have. What Happens If You Get Too Many Cards And Don’t Use Them? Does It Affect Your Credit Score? Do You Know The Answer? Let’s See What Problems Can Be Faced If More Than One Card Is Used, What Are The Disadvantages Of Using More Cards.
Also Read – Here’s How To Choose The Right Credit Card For You
After Corona, The Need For Money Has Become Known To The People. That’s why They Are Also Relying On Credit Cards, which Have The Option Of Paying In Installments. That is Why These Cards Are Used More Than One Because They Are Giving Good Offers. Credit Scoring Expert Parijat Garg Says That It Is Good To Use A Credit Card, If One Does Not Work The Other Is Useful. He Said That For Those Who Use More Cards, Making All The Payments at once is Challenging.
Also Read – Credit Card: Couldn’t Pay The Credit Card Bill Within The deadline?
Also, if You Have More Credit Cards, You Can Get More Loan Assistance. Aparna Ramachandran, Founder/Director of RectifyCredit.com, Said That It Is In This Context That There Is A High Possibility Of Spending Beyond The Requirements And Getting Into Heavy Debt.
Also Read – Do Not Use Credit Card At All In Such Places
Another Thing Is That If You Have More Credit Cards, The Credit Limit Will Be Higher. Personal Finance Blogger Tushar Jain Says That Don’t Fall Into The Trap Of High Credit Limit. If The Credit Limit Is Less Than 2 Times Of The Monthly Salary Then It Is A Good Option.
Also Read – Best Cashback Credit Cards List
Experts Say That If You Have More Credit Cards, There Is Not Much Chance Of Lowering Your Credit Score. But They Want To See That The Credit Utilization Ratio Does Not Fall.
Also Read – How To Check Your CIBIL Score?
Finally Even If We Have More Cards.. If We Don’t Use Them There Are Chances Of Them Becoming Useless. Also.. The Respective Banks And Non-finance Companies Levy Charges On The Use Of Credit Cards. That’s Why Experts Say It’s Best To Close Unused Cards. You Can Close The Credit Card Account By Writing A Letter Or Mail To The Concerned Bank. Payments Due Must be Completed Before Closing. All Rewards must Be Used. Then Check Whether It Is Closed or Not. Most People Say That One Card With a Slightly Higher Limit Is Enough For Our Needs.
