4 Tips on How to Successfully Manage Multiple Credit Cards

Your credit card can either be a significant lead to financial stability or the reason for your bankruptcy. That is why you need to be more precise in using your credit. There are maximum chances of ending in financial trouble by accumulating debts on the credits or misusing them.

Owning multiple credit cards might be exciting. However, excessive usage can leave you in debt. Additional care and attention are necessary if you are using multiple credit cards. Follow these four tips to successfully manage multiple credit cards simultaneously, without ending up in debt.

Check your Credit Activity Frequently

Having more cards means there are numerous ways to rob your credit information. So, keep checking your credit accounts as and when possible. If you find unauthorised or suspicious transactions, like purchases you never made, place a call to the service provider immediately. Another side of checking your transactions is, you can have an idea of the cards’ usage and unnecessary spending.

Some credit providers send alerts to their customers if any of the credit activities seem unusual. These could be anything out of your usual transaction patterns, like huge payments at once. For example, if there is a transaction recorded from a place where you’ve never used your credit before, you’ll instantly receive an alert. Try asking your lender and avail of these benefits to be familiar with your bills.

Create Alerts for Due Dates

One crucial reason for credit card debt is the outstanding amount. The credit card interest rate will be more on delayed payments, and you might have to pay far more than your usage. This problem arises especially with multiple accounts wherein there are chances of missing out on one or more payments. If you are okay with receiving constant alerts, set the due dates manually on your mobile or computer.

Some credit providers allow you to create alerts for free on their website. You can make use of that as well. In case these alerts are annoying, you can also set automatic payments, through which the credit providers can withdraw these amounts every month from the accounts given. Paying off the dues before the dates can help save money.

Track your Credit Cards’ Terms

Repaying the credit due isn’t as easy as using it. So, keep a record of the terms, fees, conditions, and credit limits of all the cards. By doing so, you can plan your budget in a better way. Knowing the interest rates of each card is essential for everyone. For example, if you are aware of the interests of each card, you can calculate the costs to carry the balance. You can also compare credit cards and figure out the ones whose costs are relatively cheaper in case you need to carry a balance.

Also, be aware of the rewards from each card. Knowing the rewards balance, their expiry, and how to use them is the key to grab the most out of every card you have. On the whole, these records will help determine when and where to use a particular credit. While you can do all of this manually, several websites provide these services for free. 

Know How Much You Can Spend

Though credit cards are useful, they often tempt people into spending the money they don’t have. Most people fall prey to these and spend as and when they like, without checking on the credit limit. These can lead to an overdue month after month, which levies interest and late fees at the time of repayment. This means you are paying more than what you’ve used.

Compare credit cards to have an idea of the credit limit of each of them so that you’ll know when to use the right card. Keep a budget for each card so that you wouldn’t run out of the limits and carry a balance every month. Try staying within the credit limit for each card and determine the appropriate bills for each card. This way, you can enjoy all the benefits without having to pay additional charges towards the credit card interest rate.

Managing multiple credit cards isn’t daunting unless you are not careful enough with the usage. The key to successfully maintaining different credits at the same time is, repaying all the bills on time. That is a common failure leading to additional interests and late fees. Try avoiding that to avail the maximum from every card you own. 


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  1. author
    27 Aug 2019
    Tomas Mandy

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    1. author
      27 Aug 2019
      Britney Millner

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  2. author
    27 Aug 2019
    Simon Downey

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