facebookDo you prefer to own multiple credit cards or just a few credit cards? Why? - Seedly

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Anonymous

01 Oct 2022

Credit Cards

Do you prefer to own multiple credit cards or just a few credit cards? Why?

Discussion (18)

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Many credit cards require min spend for rebates/extra interest on linked bank account, so it's better to keep to 1-2 cards. But this doesn't mean you shouldn't apply multiple cards (which you can cancel afterwards) to get sign up bonus.

Just a few to keep track. but i guess it also depends on how much you spend (most of the cashback cards which i use have min. spending).

I try to consolidate my spending within 2 to 3 credit cards, and that's because I am focusing to accumulate airline miles. Different strategies work for different lifestyle needs. For example, I tend to make a lot of in-app purchases and online shop for my personal care products. In this case, I have one credit card for my online spend to fulfil this, and another credit card for general spend as well as for public transportation (Simplygo). To put it upfront, I use DBS Altitude for general spend and DBS Woman's World for online and travel bookings. The benefit of having these 2 DBS cards is I can pool my miles together and only pay for one transfer fee when I transfer my points to my KF account. I keep a third credit card (Amex true cashback) for merchants that only accept GrabPay or ShopBackPay. I will top up GrabPay using Amex cashback card to stack cashback with grab points. Amex cards are the only cards that can also earn cashback for paying any telco or utility bills with no minimum spend.

Personally own a few only otherwise it will be very hard for me to manage and monitor when there are...

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