Agencies like bank, financial institute are offering their clients to opt for another credit card even if they already have, to generate more business by them. Customers are also trying to get as many cards so that they will be able to have more credit limit. But the question is having a lot of card is good option for the customers or will it create future problems to their users. Let’s figure it out by discussing the pros and cons of having many cards.
If a customer has many cards then it is very obvious he’ll have good credit limit if he required on the time of uncertainty. But need of number of cards required only at the time when your card don’t have sufficient limit. So if you repaying your debt on time it will enhance your credit reputation. Banks may extend your card limit so you don’t need number of cards with increase in high interest rate. [Read more...]