Is It Good to Have More Than One Credit Card? Find Out Here

How many credit cards should you own:

The use of credit cards in India is increasing rapidly. As of March 2025, there are more than 100 million credit cards in the country. Experts say this number may double by 2029. But one common question is: how many credit cards should you have?

How many credit cards should you own:

The answer depends on your spending habits, income, and financial goals. Some people prefer using only one card for all their expenses while others find it helpful to use multiple cards for different needs.

Benefits of Having Multiple Credit Cards

Having more than one credit card can be useful. You can enjoy better rewards and higher credit limits. For example, if you travel often, you can use a travel credit card that offers air miles or free airport lounge access. At the same time, you can keep a different card for daily purchases like groceries or fuel. Banks like HDFC, SBI and ICICI offer various cards for travel, shopping and entertainment.

Recent data from the Reserve Bank of India shows credit card spending increased by 10.8% in January 2025 compared to last year. This shows people are using cards for many daily expenses so having more than one card can help manage different types of spending.

Risks of Too Many Credit Cards

However having several credit cards can also be risky. If you miss even one payment, it can harm your credit score. High-end cards also come with expensive annual fees, which can be a burden if not managed properly. Financial experts suggest keeping your credit card usage under control and checking your credit score regularly.

What’s the Right Number?

For most people, having two or three credit cards is ideal. You can use one for rewards, another for emergencies and a third for special offers. Always compare different cards before applying and try to pay your bills on time to avoid debt.

So use credit cards wisely. They can help with your expenses but only if managed carefully. If you are unsure consult a financial advisor before applying for more cards.

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