Today it is no longer necessary to carry a lot of money in your wallet to make payments and make purchases. The credit card has emerged as an excellent alternative to meet these demands, in addition to bringing more security and comfort to customers.
It is worth remembering that the credit card is linked to a bank account chosen by the consumer or often by the company where he works. Having more than one card, often with different invoice due dates, has been an alternative widely adopted by those who receive payments in installments or have more than one source of remuneration, for example.
Another reason that has led people to have more than one card is the status that they guarantee through greater purchasing power. But is it worth having more than one credit card bill to manage? We raised a few points for you to decide which is the best alternative for your finances.
Credit card is not a salary extension
Before analyzing this decision, it is very important to be clear: credit cards should not be treated as an extension of your salary! Those who see the credit card as an outlet for making purchases in installments and thus postpone a payment, may not be aware of its real purchasing power. Those who use the credit card as an extension of their wages can contract debts more easily, since there are expenses, lack of money and some interest. In such cases, having 2 cards can be even more dangerous for your financial situation.
Different banks charge different fees
Competition between banks to win customers is fierce. Therefore, each one applies tariffs and adopts different procedures. This means that the cost of a credit card from one financial institution may not be the same as another.
Therefore, before purchasing several cards it is important to check the fees charged, interest rates and limits of each one so that your expenses will not be higher than you planned at the end of the day.
Cards with different flags
In general, Brazilian banks work with more than one flag, among which the most well-known are Visa and MasterCard. When you choose to have cards with different flags you increase the number of establishments where you can buy, because if he does not accept payment with the flag of one of his cards, he will probably accept the other. In addition, different cards have different points and miles programs, which can be used to benefit future purchases.
Different cards for different functions
When opting for more than one credit card, it is important that they have different functions within your monthly financial planning. This helps you better control how you spend your credit. Want a practical example? Consider that just one card is sufficient if you are only going to pay bills, for example. If a bank offers a 10-day interest-free term after the invoice is due while another bank offers a shorter time, you may consider having more than one credit card. The longer-term can be used for payments that fall due on bad days within your budget or for unforeseen events that may happen during the month.
Another tip is that the cards have different limits. The lower limit card can be used, for example, for online purchases, as they are more susceptible to cloning.
For controlling dependents’ expenses
If you have children who need to use their money frequently or another dependent, having another credit card can be a good idea to control their spending. To avoid further extra fees, it is ideal that you make the second card with the same bank.
The most important thing is to keep control
From this information, it is time to assess whether it is advantageous to have more than one credit card in your wallet. Regardless of the number of cards you have, the important thing is to always be aware of your finances and know how to control your spending. So always try to keep everything organized, keep an updated spending spreadsheet to check if you are spending too much.