Is it ok to have more than 3 Credit cards ?
- Thread starter jasonsony735
- Start date
+1
I have 2 and sadly amazon turned me down for a third
Personally i dont use them for the rewards, but for the security. I wouldnt carry my debit card around, but i would carry my credit cards. From what i understand if you lose your debit card you can kiss your money goodbye but a credit card is the banks money so they have 24/7 security monitoring them - is this correct?
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Soldato
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Same here.
I don't understand how people get into ridiculous amounts of debt cause they cannot control spending habits.
The amount of friends I have that moan about interest on paying for car insurance monthly for example, suggest a 0% interest credit card on purchases for 12+ months and they don't trust themselves.
Same here.
I don't understand how people get into ridiculous amounts of debt cause they cannot control spending habits.
The amount of friends I have that moan about interest on paying for car insurance monthly for example, suggest a 0% interest credit card on purchases for 12+ months and they don't trust themselves.
A lot of people have a shockingly poor understanding of how credit works, and also hav shockingly poor self control.
I have one zero percent card and one other card at present... going to re-evaluate when I move in the summer and reorganise my finances.
I've had 5 credit cards at one point (as a student) and decimated my credit rating back then. Learned my lesson though and now brandishing a 900/1000 rating.
Quick question - is there an easy way to consolidate multiple credit cards into one (i.e. instead of needing 10 cards with £250 balance, can you attain a £2.5k card?). When I apply for a new card now, the balances are pathetically low - I can get a larger overdraft with a brand new bank account larger than most credit cards supply in the first 3 yrs.
Quick question - is there an easy way to consolidate multiple credit cards into one (i.e. instead of needing 10 cards with £250 balance, can you attain a £2.5k card?). When I apply for a new card now, the balances are pathetically low - I can get a larger overdraft with a brand new bank account larger than most credit cards supply in the first 3 yrs.
Soldato
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I have 5 atm, mostly for bonuses. Only use the Gold card, Nectar card and Halifax Clarity (when abroad) regularly. Others are BA and BMI.
Soldato
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If you trust yourself to have one then yes, but if you are prone to running up debt for god sake don't get any more.
Soldato
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I thought Nectar card was a loyalty card? You get points then redeem them at Sainsbury's / Argos.
Whilst on subject, I think its appauling that if it is true that your credit score goes down if you cancel a card. This should be scrapped. There are many people out there that are trying to reduce their debt, once done, cancel. A service you no longer require. Some people may have multiple cards and want to reduce them down, will they get stung because they cancelled?
NOoooo! 
Just have one for when the brown stuff hits the fan!
Debit cards are fine, spend what you have !
But CREDIT is what it is, a loan and you use that stuff for the big stuff, like houses, cars etc. You dont use credit to buy the shopping, why if you have the money anyway!
Cash is king, shove credit!
Just have one for when the brown stuff hits the fan!
Debit cards are fine, spend what you have !
But CREDIT is what it is, a loan and you use that stuff for the big stuff, like houses, cars etc. You dont use credit to buy the shopping, why if you have the money anyway!
Cash is king, shove credit!
NOoooo!
Just have one for when the brown stuff hits the fan!
Debit cards are fine, spend what you have !
But CREDIT is what it is, a loan and you use that stuff for the big stuff, like houses, cars etc. You dont use credit to buy the shopping, why if you have the money anyway!
Cash is king, shove credit!
It's this bloke again...
Soldato
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I have 6 - don't know why I should get rid of some .
Or spank the lot and do a runner .
Or spank the lot and do a runner .
Depends - do you have a shotgun licence?
If you just want to get started with your first card, then presuming you have a current account that you (mostly) keep in credit I would be surprised if your bank won't give you one. The limit may be low, but that's no bad thing. As you may have already gathered, the absolute golden rule is to pay it off every month (without fail) so the card is working for you, not the other way around! This should also establish/improve your credit rating for any other applications you may later wish to make.
Soldato
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Exactly how I use mine. Anything that takes a credit card, it gets used on.
Even if I spend under £1 on the self scan at Tesco, or a parking machine.
Gotta get my points.
I used my credit card for the first time yesterday, £1.49
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I do the same for the most part.
I have 3 cards but rarely have much on more than 2. I tend to use the Tesco card as above to get the points. I use the Barclaycard mostly for contactless payments as it's convenient. I also have a Post Office card for fee free overseas payments (I travel a fair bit for work (and personally) so it's handy to have a card I can use freely abroad).
In the three years since I've had the cards, I think I've paid a total of about £20 in interest.
To answer the OP's question, there's nothing wrong with having multiple credit cards - as long as you're careful with them and try to pay them off without incurring interest (or at least too much - sometimes it can't be helped).
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