Tips and Tricks For Handling Multiple Credit Cards

By Medha Roy Chowdhury | July 18, 2019

Juggling a bunch of Credit Cards can turn quite stressful. Here’s your guide to keeping track of your Credit Cards.

When used responsibly, having multiple Credit Cards can be a blessing of sorts. Different Credit Cards come with a set of different perks.

While some cards can be great for your fuel needs, certain others can fetch attractive discounts on your shopping and dining expenses. In addition, there are cards that complimentary lounge access! So, it’s safe to say that there’s a card for your every need.

Additional Reading: 5 Tight Spots Your Credit Card Can Get You Out Of

If you’re someone with a bunch of Credit Cards for your personal expenses and some other cards specifically for your business needs, managing each of these cards may be quite a task. Needless to say, keeping track of the payment deadlines of each card can be difficult as well. So, how can you keep track of your cards? Read on to know more.

We’ve outlined a 3-step guide for you to be uber-organised when it comes to your Credit Cards. This will help you stay on track with your payment deadlines and also make sure that there aren’t any hiccups while using your cards.

Additional Reading: Credit Cards That Can Actually Save You Money

Step 1: Categorise

Divide your cards into broad categories- Personal and Business. This is the first step to using your cards effectively and making the most of their benefits and rewards.

Once you’ve separated your Credit Cards into these two categories, list them out in terms of their use and benefits. Club shopping cards, group ones that offer dining benefits, and sort out the ones that you use to pay your utility bills.

What we mean is, group the cards that you use for a specific purpose to reap the maximum benefits. This way you’ll know exactly which ones to use for lounge access, which ones fetch amazing cashback on your expenses, and exactly which ones offer bonus points and airline miles.

Additional Reading: 6 Credit Cards For Free Lounge Access

Step 2: Document

A great way to go about this is to have a spreadsheet that will hold the basic information of all your cards. This step is important because you never want to end up in a situation where you no longer remember which cards you have and when your payments are due.

So, here’s the thing, just create a spreadsheet and fill in the basic details of each card. These are the details you need to document:

  • Credit Card name
  • Who signed up (you or your spouse)
  • Sign-up date
  • Credit Limit
  • Annual fee
  • Date annual fee is charged

Additional Reading: Credit Cards With ZERO First-Year Fees

Step 3: Review

Holding multiple cards also means multiple bills generated each month. The more the cards, the easier it is to lose a bill or miss a payment deadline. To keep trouble at bay, speak to your Credit Card providers and automate your bill payments. That way you can rest assured that you won’t have to bear the consequences of missing payment dates.

Remember to check your Credit Card statements each month. With many cards in your kitty, we know it’s easier said than done. However, skipping this step could mean that you won’t be aware of interest rate changes or other offers made available by your Credit Card provider. So, we suggest you set aside sometime once a month and review your Credit Card statements.

Additional Reading: Now, Get Business Credit Cards On BankBazaar

When used responsibly, multiple Credit Cards can be a great way to boost your Credit Score! With this simplified way to handle multiple cards, we hope you’ll be able to make the right use of your Credit Cards. If you’re looking for Personal Loans or other financial products, we’ve got you covered.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Credit Cards UCN
Medha Roy Chowdhury

About Medha Roy Chowdhury

Square peg in a round hole, Medha reads whenever she gets the chance to. She is happiest when travelling and dreads having to choose between the hills and the sea. Dog lover at heart, she is in pursuit of adopting a few canine friends someday. Weird as it may be, she bakes when stressed. Previously a Market Research Editor by profession, she takes a keen interest in finance. When she is not reading, you’re sure to find her with her ukulele.

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