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Is 5 credit cards too many

Is 5 credit cards too many -  Although the function of a credit card is to provide convenience, it would be better if you do not use more than 2 credit cards. If you use too many credit cards, it can potentially damage your financial management and result in you having a lot of credit card debt.

Is 5 credit cards too many

Credit cards are very common means of payment because of their practicality. Not a few people who have more than one credit card in their wallet. Having "too many credit cards" should be avoided for customers, because of a number of risks that must be considered.

Having too many credit cards can have some risks to consider. One of them is the owner is not able to manage all credit cards properly.

this can result in late credit card payments and increased fees payable - This bad reputation can affect the ability of "credit card" holders to obtain important things - such as home purchase loans and so on.

Credit cards are here to provide convenience in payment transactions provided by banks to loyal customers. The convenience of making payment transactions using a credit card should not interfere with your finances. How to use a credit card must be done wisely and not consumptive.

Read also : How to use a debit card as a credit card

Here are the things that need to be done in using 5 credit cards :

1. Set Transaction Limit

Each credit card has a certain limit that you can set according to your needs and ability to pay. By setting a credit card limit, you will avoid purchasing items whose price exceeds the credit card limit.

2. Use As Needed

Use credit cards only as needed. The credit card function will help you get what you need. If the use of credit cards is too consumptive, it can result in unstable money management.

3. Pay Credit Card Bills On Time

Paying credit card bills is an obligation for all users. Apart from being an obligation, paying bills on time aims to prevent you from large fines. Many cases are unable to pay bills because they always have to pay late fees for paying credit card bills.

4. Check Billing Data Periodically

Always check your credit card bill. Pay close attention to the use of credit cards that you have done. This is important to avoid mistakes in recording transactions by the bank or can be useful to be able to find out immediately if there are suspicious transactions or credit card burglaries.

5. Keep Credit Card Data Secret

Make sure you maintain the confidentiality of credit card data, such as the PIN used for transactions and where the credit card is in your hands. By maintaining the confidentiality of your data, you can avoid phishing crimes that are currently rampant.

Use credit cards wisely according to their actual function, namely to help you meet various needs. In addition, choose a credit card that can provide many benefits.