Do you also use only one credit card? Immediately apply for another one, not just one or two.. You will get all 5 benefits

If you also use a credit card, then at some point or the other, you must have thought of getting another credit card. This may be due to many reasons like the limit falling short or due to good offers on the other card. Let us know when getting a second credit card can be a good idea.

If you have one or more credit cards, it shows that you can manage your debt and credit well. This also improves your credit score. However, it is also important for you to pay the bill on time. This improves your credit score. If your credit score is good, then you can get a second credit card and improve your credit score further.

If you have a second credit card, you can use it in case of an emergency. Suppose your first credit card does not work for some reason or it gets lost somewhere, then you may face a problem, but if you have a second credit card, then you can fulfill your needs by using it.

If you want to increase the limit of your credit card, then for that the bank will look at your old history and it is possible that even after that it may not increase your credit limit or increase it very little. However, if you get a second credit card, then your credit limit will automatically increase by combining both the cards.

If you want to use the benefits of the card for different purposes, then you will have to keep more than one card. Different cards offer different benefits, such as shopping, dining, travel. You can get a card related to the thing on which you have more expenditure. If you want to get benefits in the second or third category also, then you can get a second or third card.

There are many such credit cards, with which you can pay the other credit card. Sometimes a situation arises when you have trouble paying the credit card bill. In such a situation, a second credit card can be beneficial for you, because you can pay your first credit card with it.

Nowadays, many people are using credit cards. And why not, the offers of credit cards are so great. But the problem arises when you start getting many credit card offers one after the other. In such a situation, a person applies for many credit cards, which directly affects their credit score i.e. CIBIL score. Now the question arises that after how many days of getting a credit card should we apply for another card?

Whenever you apply for a credit card, a hard inquiry is done on your credit report. Due to hard inquiry, your credit score decreases a bit, which gradually recovers. In such a situation, if you apply for a credit card again before your credit score is recovered, then there will be a hard inquiry again, due to which your credit score will again go down a little. Doing this repeatedly can spoil your credit score.

In a hard inquiry, your documents and your credit score are checked by the bank. Hard inquiry affects your credit score. On the other hand, if there is a soft inquiry, it does not affect the credit card. Let us tell you that in a soft inquiry, no documents are checked, rather only the online credit score is checked, so often people check it themselves.

It is not that if you apply for two credit cards within a few days, then your credit score will be completely spoiled. But if you wait for a few days, then your credit score will be fine again. To get out of the impact of hard inquiry on credit score, you should wait for 3-6 months and then apply for another credit card. By doing this, lenders will not feel that your financial condition is not good.

While getting a second credit card, apply for a card that offers different benefits than your existing card. Try to get a card with a higher credit limit, because if you use more than 30 percent of your limit, it has a bad effect on your credit score. In such a situation, if the credit limit is low, then your target of 30 percent will be completed very quickly.

The Reserve Bank of India has no rule regarding keeping credit cards. You can keep as many credit cards as you want. Actually, before giving you a credit card, your bank checks how many credit cards you have, what is your CIBIL score, how do you use them.

If your income is low, then you will not be able to get many credit cards. But if you earn good money then you will not have any shortage of credit cards and you can have as many credit cards as you want. You just have to manage them properly.