Many people have at least one credit card, and there are financial perks to using one responsibly. However, with so many cards and fantastic perks available, why have just one? Getting a second credit card allows you to keep your options open when making purchases, and it can be useful in an emergency situation, too. Below we’ll explore four more reasons it pays to have a backup credit card in your wallet.
Pay Unexpected Bills with Ease
No matter how well we prepare, sometimes life just happens. If you unexpectedly need a new furnace or the brakes go out on your car, your backup credit card might just get you out of a pinch. Make sure you’re ready to handle everything life throws at you by keeping a secondary credit card with you at all times.
Maximize Your Rewards and Perks
Your favorite credit card may offer great perks like cash back, but are there any holes in benefits that a secondary card may fill? For instance, if you commute a long distance for work but your credit card doesn’t offer gas rewards, you might be able to save considerably by having a credit card for use just at gas stations. The idea here is to compare your spending habits against the perks your card offers, then fill in any gaps with a backup card.
Check Locations Off Your Travel Bucket List
Travel perks have long been a coveted credit card benefit, and card companies have stepped up their offerings in recent years to remain competitive with consumers. If you’re a traveler – or you want to be – check out the latest offerings in travel card perks. Sometimes, getting a second credit card can end up saving you big on your next flight or hotel stay.
Improve Your Credit
Though it might seem counterintuitive, getting a second credit card can actually help improve your credit – if you’re smart about it, that is. One of the measures used by the credit bureaus is the amount of credit you have available for use. Opening up a second credit card and using it sparingly or not at all will immediately boost the amount of available credit you have, thus increasing your credit score over the long-term.
So, what are you waiting for? Check out available credit cards and choose a backup card that suits your needs today.
Image via Unsplash/Clay Banks
