Another credit card. Should I or should I not?
I first applied for a credit card a few years back and was promptly denied. No big deal. Then came another offer so I took it. Denied again while my wife (gf back then) already had two. Not that we’re competing on who can get the most but am I not a credit card-worthy kind of guy?
So finally, after another offer I got my first card. Now I can purchase appliances, buy cheaper products online and earn rewards while doing it.
I later found out that the problem with my card is that the rewards are only convertible to travel miles, not items!!! I don’t even ride that particular airline they’re tied up with. That’s what I get for not researching about the best credit card offers for me.
Anyhow, I recently received another offer and this time its reward points are convertible to items. I didn’t say no yet. I just said to call back again since I was busy that time. So soon I’ll be having two credit cards.
Now what can a person do with multiple credit cards? Well for one, it’s great to have a Visa and a Mastercard at the same time. Another thing is if you can’t pay your bill on time on one of your card, you can transfer it to a 0% balance transfer credit card. This way you won’t suffer the stiff penalty for the interest.
So I guess having multiple credit cards is ok as long as you can control your spending habits.
You might also be interested in:
- Do you really need another credit card?
- Choosing the right credit card
- What is the right credit card for you?
- How to create an account in iTunes without a credit card
Filed under: Tips n' Trix
Our credit card earns miles too. I like miles because I use them a lot. It takes some discipline to maximize the benefits of your credit cards. Otherwise you’ll end up being owned by your card.
Here are some more interesting articles on credit card and how to get out of or not get into credit card debt: http://eofw.net/category/credit-cards/
calvin: very nice and practical info on that site.
Good Blog. I will continue reading it in the future. Nice layout too.
Aaron Wakling
credit card is best for emergency purposes. I have 3 but as much as possible I try not to swipe here & there. it took me a year to get out of debt on one of my Visa. Ang hirap sobra!
calvin: ako i just use my credit card as a debit card. i don’t buy things that i don’t have money for. ayaw ko yung may naiiwan na balance sa credit card ko.