Many people are scared of having too many credit cards. They either think that it could be unsafe, temptation could take them over, it would be hard to control their finances, lenders won’t give them money, etc… But, the reality is, having multiple credit cards guarantee you more benefits. Here are some good reasons to have multiple credit cards:

Financial Safety : A main reason to carry multiple credit cards is safety. Let’s say you are robbed, or you loose your only card. You will then have to wait several days in order to receive your new credit card. Experts also recommend to have one credit card with zero balance in a safe box our outside your home. That way if your home ever gets burned down, destroyed, or robbed you have a credit card to rely on until you stabilize.

Rewards: There are many cards that offer a specific kind of reward for having the card. Sometimes it is cash back or sometime miles for a free flight to Europe. However, no card will give you both. That’s why having a card for each provides you with double the rewards! Other credit cards offer gift certificates which are great and easy to use in many locations.

Easier Control: Sometimes your boss tells you to buy something and not to worry…you are going to be reimbursed. Or you are self-employed and are always having trouble defining which purchases were work related. Well, solve it by having a credit card specifically for work. That way you will exactly know what needs to be reimbursed, what you bought for what, or what is tax deductible or not.

Payment Procrastination: So, let’s say you have a Visa card which billing cycle ends the 5th; but your AmEx’s billing cycle ends the 10th. You can arrange your cards to pay for each other so that you can wait even longer to pay the actual bill. That way you don’t have to worry about paying all at the due date…or you can wait until you get your salary without having to worry.

Unlimited Options: Sometimes you are stuck at some place that doesn’t accept American Express, or your MasterCard was disabled because you traveled to Europe and when you were trying to buy something they thought it was fraud. Several places only accept certain kinds of cards. With having multiple cards, you are assuring yourself to be accepted everywhere.

Leverage: Having multiple credit cards means that you can choose some cards over other ones. Even though you can usually get better terms for a card by just asking…the option of being able to fire a bank over another one is always good. If you don’t like the terms of one, what does it matter? You have another credit card.

Credit Score: Even though every time you open a credit card your score goes down, while maintaining it, it increases. Think about this with multiple credit cards. If you maintain a decent debt to credit ratio with multiple cards, your credit score will eventually boost up very nicely.

Now…this does not mean that you should go ahead an open five new lines of credit. But, it demonstrates that it is good to have more than one.