Advantage and Disadvantage of Using Multiple Credit Cards


  • See whether using multiple credit cards is good or bad.
  • Know the advantages and disadvantages of using more than one credit card.
  • It is important to manage multiple credit cards efficiently.

Credit Cards have become a part of the life of many individuals. It is the lender of the last resort when all the salary is exhausted. On the other hand, a credit card provides exciting deals and offers so that the individual can save some extra bucks. But as we all know that different banks have different offers and deals on their credit cards so you cannot enjoy all the offers on just one credit card. Therefore, many individuals apply for multiple credit cards in order to enjoy all the offers on various brands. So, you must take a look at the Advantages and Disadvantages of Using Multiple Credit Cards. It will give you a clear picture of whether to use multiple credit cards or not.

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Advantage of Multiple Credit Cards

Here are some benefits of using multiple credit cards from various banks. It will help you to make the optimum utilization of all your cards.

Enjoy All the Offers

Every bank launch offers on their credit cards from time to time. So, if you have credit cards of multiple banks then you can enjoy all the offers prevailing on it. It is not necessary that different credit cards have the same offers on the same brand. So, making use of multiple credit cards will result in more savings.

Suppose Swiggy has launched a discount offer on SBI Credit Cards and HDFC Credit Cards then you can avail it on both of them. It will help you to grab more discounts and saves an extra penny. Similarly, if the Free Airport Lounge Access of one credit card has been exhausted then you can use the other card for enjoying free access to the Airport Lounges.

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Improves CIBIL Score

If you are making payment of all the credit cards on time then it will improve your Cibil Score. Frequently using cards from different banks and managing them usually improves the credit history of the individual. You can take more credit cards if you have a high Cibil Score.

Enjoy Long Interest-Free Period

Most of the banks give an interest-free period during which you can repay the bills of your credit card. So, if your interest-free period is going on one card then you can use another credit card to start the interest-free period on it. Once you have the capacity of paying the bills then you can clear the bill of your first card and the interest-free period will continue that will be of another card.

Earn Reward Points

Every credit card earns reward points on certain transactions. So, you have the opportunity to earn thousands of reward points from multiple credit cards. These reward points are redeemable on the shopping websites that are controlled and manage by the banks. On the other hand, you can use these reward points to clear the outstanding bill of your credit card.

Helpful When Any of the Credit Card is Lost

If in case you lost one of your credit cards then the other card can be used as a backup. Your want for money would not be affected even if you lost one of your cards.

The disadvantage of Multiple Credit Cards

You can see that the pros of using multiple credit cards overcome the cons of it. But remember, there are some disadvantages to using more than one credit card.

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Over Expenditure

Multiple credit cards mean that you have a credit limit. But it leads to over-expenditure and skipping of payment of any credit card will reduce your Cibil Score. Therefore, you must cut your cloth according to the cloth and avoid the unnecessary expenses that you can’t pay later.

Incapable of Repaying Debts

Sometimes, the individual is unable to pay the credit card bills of all the cards on time and it decreases the credit score of the individual. So, you must not use the full credit limit of the card because it will be difficult for you to clear the bills of multiple credit cards.

Not Easy to Manage

There are some new credit card users who are unable to manage multiple credit cards. They misuse the cards and it results in non-payment of the credit card bills. Therefore it is necessary to manage all your credit cards efficiently if you are using multiple credit cards.


Now, you know the Advantages and Disadvantages of Using Multiple Credit Cards and you have realized whether using multiple credit cards is a trap or a good idea. You can see the advantages of multiple credit cards that have overcome the disadvantages of it. But still, you have to remember that there are disadvantages too of using many cards.

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