{"id":1690,"date":"2017-10-10T09:01:47","date_gmt":"2017-10-10T09:01:47","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=1690"},"modified":"2019-06-04T12:19:04","modified_gmt":"2019-06-04T12:19:04","slug":"many-credit-cards-one-hold","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/many-credit-cards-one-hold\/","title":{"rendered":"How many credit cards one should hold?? \u00a0"},"content":{"rendered":"<p>As per a recent survey, around 63% of the people are credit card holders in the UAE. Currently, according to an estimate, there are roughly 5 million active credit cards in circulation. There are&nbsp;less number of&nbsp;debit card users than&nbsp;<a href=\"https:\/\/www.mymoneysouq.com\/cards\/compare-credit-cards-uae\" target=\"_blank\" rel=\"noopener noreferrer\">credit cards in UAE<\/a>. This adoration for the credit cards is because of the various benefits a holder can get in a credit card right from movie offers to shop benefits, from cash back offers to points redemption etc.<\/p>\n<p><strong>Check: Best <a href=\"https:\/\/www.mymoneysouq.com\/cards\/best-cashback-credit-cards-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\">Cashback credit card UAE<\/a><\/strong><\/p>\n<p>Coming to the question of how many credit cards should a person hold, there is actually no limit to the number of cards a person can keep. It&#8217;s just the game of proper usage. If a person is aware of <a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/your-credit-card-guide-in-uae\/\" target=\"_blank\" rel=\"noopener noreferrer\">how to use a credit card<\/a>, he\/she can hold how many ever cards they want. There is a myth that too many credit cards can put your credit score down which is not true.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.mymoneysouq.com\/financial-blog\/wp-content\/uploads\/2017\/10\/How-many-credit-cards-one-should-hold.png\" width=\"527\" height=\"1970\"><\/p>\n<h3>Pros of having multiple cards:<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If a person knows the usage of credit cards and pays off his\/her monthly outstanding bills on time, then having numerous credit cards is a good plan. It could help in gaining credit rewards and perhaps a new card with an exclusive feature\/features like shopping benefits, <a href=\"https:\/\/www.mymoneysouq.com\/cards\/best-movie-ticket-offers-on-credit-cards-in-uae\" target=\"blanck\">movie offers<\/a>, <a href=\"https:\/\/www.mymoneysouq.com\/cards\/air-miles-credit-cards-in-uae\" target=\"blanck\">air miles<\/a> etc. which would help in saving money up to 10% monthly. So maintaining two-three cards perfectly could fetch you a great time in savings as there are several <a href=\"https:\/\/www.mymoneysouq.com\/credit-card-offers-in-dubai-uae\" target=\"_blank\" rel=\"noopener noreferrer\">credit cards offers<\/a> provided. <\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Apart from rewards, this could be a benefit to the credit score. If a person spends more than 20% of the credit limit then dividing the expenses could be beneficial. And for entrepreneurs, it can be better if they maintain their business and personal expenses on two different cards. &nbsp;<\/span><\/li>\n<\/ul>\n<p><strong>Maybe Interested: <\/strong><a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/al-etihad-credit-bureau-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to read AECB Credit report in UAE<\/a>&nbsp;<\/p>\n<h3>Cons of having multiple cards:&nbsp;&nbsp;<\/h3>\n<p><span style=\"font-weight: 400;\">Too much of anything is not good, the same way maintaining too many credit cards could be a bit complicated. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Firstly, maintaining multiple cards can be a struggle, especially if a person doesn\u2019t know how to use a credit card effectively. A recent survey suggests that about 60% of the credit card holders aren\u2019t aware of the interest rates on their cards.&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Secondly, having too many credit cards is ultimately having higher credit limit combinedly which is quite tempting to spend more which could at times become a burden while paying the monthly bills.<\/span><\/li>\n<\/ul>\n<p><strong>Related<\/strong>: Know <a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/understanding-credit-card-charges-uae\/\" target=\"_blank\" rel=\"noopener noreferrer\">Credit card charges in UAE&nbsp;<\/a><\/p>\n<p>However, there is no limit on a number of cards a person can hold. It is completely up to the user, how he uses and maintains without dropping the credit score. Experts suggest it is better not to have more than one credit card because too many cards are troublesome especially when each card is from a different bank. One should keep an eye on all the cards, interest rates which could lead to payment delays and much more. So it is better to maintain one card properly with regular payments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As per a recent survey, around 63% of the people are credit card holders in the UAE. Currently, according to an estimate, there are roughly 5 million active credit cards in circulation. There are&nbsp;less number of&nbsp;debit card users than&nbsp;credit cards in UAE. This adoration for the credit cards is because of the various benefits a [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93,8],"tags":[67,15,27,17,16],"class_list":{"0":"post-1690","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-credit-cards","8":"category-personal-finance","9":"tag-adcb-credit-card","10":"tag-adib-cashback-card","11":"tag-credit-cards-uae","12":"tag-nbad-credit-card","13":"tag-rakbank-credit-card"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How many credit cards one should hold?? \u00a0 - MyMoneySouq Financial Blog<\/title>\n<meta name=\"description\" content=\"Coming to the question of how many credit cards should a person hold, there is actually no limit to the number of cards a person can keep. 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