Why do people keep more than one credit cards?

Question

I see some people have have several credit cards, i don't understand the reason, i mean if you have a good credit history than you can have large amount of credit limt on any one card. Why bother keeping several credit cards? Is it in any way benificial?

Answer 1

When travelling incase you lose one, you can cancel it without having to worry about having no money.

Also CC companies are always giving 6 mth interest free on cards so people keep applying for these

Answer 2

There is no reason for people to have more than one card but they get offered them and so they accept them, and think they can't do without, the more the cards the higher the potential for a small financial disaster, which would advantage the financial istitution that gave them che cards.

RE:
Why do people keep more than one credit cards?
I see some people have have several credit cards, i don't understand the reason, i mean if you have a good credit history than you can have large amount of credit limt on any one card. Why bother keep...

Answer 3

Certain people run more than one business or accounts with each card. I have a card for debit to my checking account a card i use for on-line purchase only (or for ordering goods through catalogs), a visa for office use supplies airplane tickets computers business lunches, bar tabs all for tax reasons and lastly an amex for every day purchases so I don't have to carry around large sums of cash and most people take it that I do business with so I eliminate the need for anything more than $20 in cash n my wallet, at the end of the month can pay it off with a check and I have instant copies of my transactions for tax purposes plus if I have a problem with a purchase they will do a charge back faster than any other company.

Answer 4

I have 2 credit cards.

One has 0% interest on balance transfers for a year. I transferred 2 high balances to this card, and closed out the 2 high ones. Nothing else is charges on this card.

The other has a very high limit, and 0% interest for a year. It also has the logo of my Alma Mater. I think they get a certain donation when I use it.

Answer 5

Many possible reasons, including dividing your expenses for business and pleasure. Each card gives you a printout each month, so in a sense they do your accounting for you. Also you may feel you have more power or prestige in having them. Unfortunately, the CCd Companies are really a very powerful Mafia that encourages this behavior and thrives on their ability to get you into debt, and then charging unpayable usury interest rates along the way. They have millions of people by the throat, and can destroy your financial life if you do not pay them back. We should have very strict laws about them, but I'm sure they reward members of Congress handsomely for not doing so.

Answer 6

There is no reason for people to have more than one card but they get offered them and so they accept them, and think they can't do without, the more the cards the higher the potential for a small financial disaster, which would advantage the financial istitution that gave them che cards.

Answer 7

some think it is a social status others think it is a way to get money and see how quick they can max out others use the card as a good tool to make buying things much easy er like online or renting a car and responsible use.

Answer 8

They pay the monthly installments of the other credit cards, a vicious cycle!

Answer 9

It's so they can evenly distribute their debt. More cards, more debt. Paradox.