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Thinking About Second Credit Card -Does It Make Sense?

Few Reasons For Having Second Credit Card In Your Wallet

How Will Benefit From Credit CardYou will be vacillating when you think of having a second credit card in your wallet. Not a worry, you are not single, many are sailing on the same boat. As soon as you receive a call from the bank saying that they are offering a credit card with the excellent rewards for the privileged customers like you, people start thinking if it is a good idea to have a second card in the wallet. I would answer yes, provided you can manage payments of the cards effectively. Continue reading things will start to make sense.

Backup  

When you are on a vacation for foreign trip use the credit card for the transactions, you will observe the banker has blocked your card for the reason you are unaware of. In the most of the cases, banks do this to protect you from the fraudulent transactions. Though this act is done to provide you with an additional security, it will cause a great in convince and you have to wait till re- activation of the card if don’t have a backup plan. Your second credit card becomes a hero of the day. Isn’t it?

Enjoy multiple rewards  

Credit card market today is tailored to address unique needs of the customer today. If you are shopping freak, choose to go with the cards that offer more rewards on your shopping. If you are a frequent flyer, choose the card that allows you to redeem the reward points for miles. What if you are a person who loves to shop around on your vacation? Having multiple credit cards will add more benefits here.

Boost credit score

When you have two credit cards in your wallet, your expenses will split between two cards and your debt utilisation ratio will be less and will have a positive impact on your credit score. This is how it works. Having two credit cards will raise your credit limit and lower your debt usage so, the debt usage for the available credit limit is low and will have a positive impact on your credit score.

Address emergencies effectively

Medical emergencies knock the door unannounced and it is not possible to have liquid cash during the times of emergencies. You know that every card comes with certain limit and it is good to have the second card at your disposal when you are unaware about the expenses you encounter during the emergencies. However, you should make sure to pay out the credit card bills as you liquidate your funds.

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