Credit Card plays an important role in millennials lifestyle. Whether you shop, dine or do online bill payment, it makes your purchases easy and convenient.

Nowadays, credit cards are tailor-made which is used for a specific needs and due to which some people own one credit card while others may have multiple credit cards. In fact, the credit advisory firm Credit Sudhaar says, on average, a credit card user in India has 2.2 credit cards.

However, the question is how many credit cards are idle for one person? Should you have more than one Credit Card?

Many discussions are ongoing that you can check online, but it totally depends on your expectation from credit cards.

In general, there is no set rule as to how many credit cards are ideal for a person. It is purely dependent on the millennials ability, considering his own spending behaviour, current income and financial position. Even if someone is not a very high spender or never exceed the limit on their credit card, they still need 2-3 credit cards. There could be several reasons for this. Let’s check out some of them. 

1. Maximum Transactional Rewards: Credit cards are tailor-made for specific needs, and banks & financial institutions design it according to a spending category such as travel, shopping, dining, etc. When you own multiple credit cards, you can make the most of the rewards that different cards offer for purchases around these categories.

2. Deals & Discount: Many merchants have tie-ups with certain banks, payment gateways and credit cards. At several occasion, there could be great ongoing deals & discount that you may miss out if you hold just one card.

3. Balance transfer: In case, you are facing a cash crunch in any particular month then you can transfer the required balance from one to another credit card. Some credit cards don’t charge heavy fees on balance transfers in comparison to the interest rate associated on non-payment or minimum payment.

4. Better Financial Management: You can space out the dates of the monthly cycle to maximise interest-free period offered on a card. To do so, use your first credit card till the last day before cycle and then switch to another card. This will help you in managing your financial position better as you extend your credit line.

5. Backup During Card failure: There might be a situation when your one credit card is not working due to any technical glitch, then your second card can act as a standby.

6. Improved Credit Score: Your credit utilization ratio and credit score are correlated. So, when you use more than 20% of all your card’s limit every month, it helps you in building a good credit profile. Though the percent of debt you carry on each credit card matters as well, that’s why having 2-3 credit cards can help you.

7. Minimize Revolved Credit Charges: If you have revolved credit on one of your credit cards, then stop using it, otherwise, the interest will be charged on the new purchases. Instead, you can use your other credit cards.


Owning more than one credit cards can only add more values if you manage them correctly otherwise, it can lead to debt traps, defaults, and a poor credit score. Today, credit cards are tailor-made caters to the specific needs of users, which encourage you to sign up for more than one credit card. So, If you are planning to own multiple credit card then make sure it doesn’t go against you. Ensure the benefits of each card that offers. Your selection should be purely based on your lifestyle and spending patterns. Though, it is equally important to be aware of the credit limit, payment due dates and etc.


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