Credit Cards: Credit cards can be helpful in boosting credit scores and purchasing some of life’s most expensive items. There are hundreds of credit cards available. But how many can you have at once? Read on to know the answer.
How many credit cards can you have at once?
One may submit as many credit card applications as they’d like simultaneously in India. No specific cap on the quantity exists. The ability to use more than one card may raise the cardholder’s spending capacity and credit score. Each application for a credit card is examined and taken into account independently to make sure it is being used appropriately and to verify that the applicant can pay the bills in full at the end of each billing cycle.
How many should you have?
Your main priority should be establishing credit; yet, getting additional cards will hinder this effort because each credit card application will slightly lower your credit score. When you don’t have much expertise in managing credit, carrying many credit cards can also make you spend more than you should.
Before you think about applying for a second card, wait until you’ve had one for a year or two, or until you’ve attained at least a decent credit score. A credit score of at least 670 is considered to be good credit.
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