INSUBCONTINENT EXCLUSIVE:
Authors: Super UserKeeping a large number of credit cards would help you only if you curb the temptation to over spend
up spending unnecessarily
For instance, if you have a credit card of Rs 1.5 lakh upper limit, then your "unnecessary" spending will stay restricted to this cap
However, four such credit cards might induce you to spend as high as Rs 6 lakh, even if your financial appetite doesn't warrant so.The only
After this period, you are levied a penalty on the remainder of outstanding amount
With too many credit cards at your disposal, the credit card users sometimes rotate money from one card account to another so as to buy the
But it is, undoubtedly, a recipe for financial disaster, since it effectively means raising a fresh loan to repay the old one.: How To Pay
SBI Credit Card Bill And Get Credit Limit Restored InstantlyHaving fewer credit cards has as many advantages as are the disadvantages of
"Having fewer cards will help: to control your debt, to spend more consciously, in making and managing your payments easier," said
Via Credit Cards: High Interest Rates Demand Caution, Say ExpertsOn possessing a large number of credit cards, Ramalingam said that the card
user can make use of cashback programmes and rewards programme.When a card user has a higher number of cards, s/he gets the flexibility of
And Ramalingam calls it advantageous so long as you can control your spending and payments."If you are someone having control on your
spending then having more cards will help you.If you are someone not having control over your spending and payments, then having more cards
So please choose wisely," he said.
