Theunjob finance Is It Possible To Manage Multiple Credit Cards Together?

Is It Possible To Manage Multiple Credit Cards Together?

Credit cards are one of the easiest and best ways to make a payment online. It has become a very significant payment partner for many. From shopping online to shopping in a physical store, credit cards can help get good discounts and easy cashless payment everywhere. Considering its endless benefits, many people often use multiple credit cards. It is often helpful if you want to separate different kinds of expenses. Or is it? Or what is a successful way to manage more than one credit card at a time?

Well, today, you can find all those queries here. Stay tuned to know more about managing multiple credit cards and bill payment UPI system via credit cards without affecting your financial situation. 

Benefits of having multiple credit cards

Owning multiple credit cards can benefit you if you can handle those cards efficiently. Let’s visit the benefits of having multiple credit cards. 

  1. When you have only one credit card, there will be limitations to credit usage. You can not go beyond that. So, you will not be able to use most of it automatically. On the other hand, if you have more than one credit card, you can have different credit utilization limits. You can use almost all credit card limits to pay any expenses instantly with the card. 
  1. Maintaining an excellent credit score can result from effective credit card usage. Clearing all your credit card bills within the due date will increase your credit card score. Also, you need to use your credit card properly. You can also elevate the chance of a good credit score without exceeding the credit limit. In the future, a good credit score will help you to get any kind of personal or business loan without hassles.
  1. Multiple credit cards mean your chance of getting a bunch of rewards is increasing. Every credit card comes with its kind of perks and benefits. For example, a travel-friendly credit card will help you book hotels, flights, airport lounges, etc, with extra discounts. Some credit cards come with fuel benefits like additional cashback on fuel. So, more credit cards mean there will be more offers and rewards. You can also enjoy various loyalty programs on your cards. 
  1. Some credit cards offer an interest-free period if you repay the loan amount on those cards within the due date. With these interest-free periods on multiple credit cards, you can save money.

Disadvantages of multiple credit cards

Though there are a lot of benefits to owning more than one credit card, you may also face some difficulties at the same time. 

  • When you have more than one credit card, you need to keep track of each one’s bill payment time, terms, features, etc. It can be a daunting task for you. You need to invest a lot of time to repay their bills. In this situation, you can use credit card bill payment online app where you will get on-time notifications for your bill payment dates. 
  • More credit cards mean more credit limits. You may pay huge bills on every card if you can not manage more credit card limits.
  • Applying for several credit cards within a short period impacts credit scores negatively. 

How can you manage multiple credit cards?

  1. Maintain credit limit on every card: Always monitor the credit card limit for each. You should not go beyond that limit. So always track the card limit properly. Also, the credit card issuer company or app will determine a limit based on your credit score. Make sure that your credit score is always within a good range.
  1. Choose the best suitable credit card: You must follow some major criteria to choose the right credit card.
    • Rate of interest on the credit bills
    • Rewards and benefits according to your specific needs
    • Late fees
  1. Stay notified about bill payment due dates: Always maintain a spreadsheet or alert system to mention every due date of your cards. 
  1. Terms and conditions of every credit card: A detailed terms and conditions will mention everything about a credit card. For example, it will include annual fees, cash advance fees, late fees, etc. Go through all of these details before applying for a credit card. 

Can you pay credit card bills online?

In this digital era, everything is possible to do online. Credit card bill payment is also no exception. You can pay multiple credit card bills online with the help of various online platforms like a UPI app or websites. Many online credit card bill payment apps help you track bill payment dates so you never miss a single bill. Also, these apps offer various loyalty programs that can help you to get various rewards on every bill payment. 

Online bill payment UPI apps are convenient for paying your credit card bills on time. You can sync your multiple cards together under one app’s account. So, you do not need to track your bill dates alone. It will be an automated process where you can easily do every credit card transaction. Pick one reliable credit card app for paying all the bills together. 

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