Finance Desk – Having multiple credit cards from the same bank can be beneficial, but it’s important to think carefully before you decide to do this.
Benefits of Multiple Credit Cards from the Same Bank:
- Different cards often come with different benefits. For example, one card might give you great rewards on travel, and another might offer bonuses when you dine out.
- When all your cards are with one bank, you can see and manage them all in one place.
- More cards mean a higher total credit limit, which can be good for your credit score.
- Banks often give their credit card holders special deals like cashback, discounts, or access to events. With more cards, you might get more.
Things to Be Careful About:
- It’s important to be careful not to spend more than you can afford to pay back.
- Applying for several cards in a short time can drop your credit score a little.
Tips for Handling Multiple Cards:
- Regularly check your account statements to make sure you are staying within your budget.
- Use your bank’s alerts for due dates and important account activities.
- Try to pay the full amount due each month to avoid interest charges.
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