[shadha]

AsSalamu' Alaykum,

One.

Why you need multiple credit cards

The pitfalls may be obvious, but there are also benefits -- if the cards are used responsibly. Here's how having more plastic can work to your advantage.
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By Bankrate.com

How many credit cards should you have?
Many people are afraid to have multiple cards. Some worry they would lose track of the different bills each month and fall behind on their payments. Others fear that the temptation of high credit limits would entice them to overspend.
And some people fear that creditors, upon seeing multiple open credit lines, would be less likely to lend them money because the creditors would suspect they'd be more likely to fall into debt.
Americans seem to be split on the issue of having one credit card or multiple cards: 51% of the U.S. population has two or more credit cards, according to the Center for Media Research.
Emily Davidson, a credit expert with Credit.com, says people often ask, "What's the magic number of credit cards I should have?" She says there is no clear-cut answer. "You should have as many cards as you feel you can manage responsibly."
For responsible people, however, there are a number of benefits to having multiple credit cards.
Continue Reading...

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shadha-

[ChotooMotoo]

I have 2. One I pay off every month. The other I plan to pay off in the next year. One I've had since I was 18.

[fatima]

i have 5 or 6...but i only use 2.

[Caramel_Candy]

I have 3 and I pay them off every month.

[jaani]

Originally Posted by Caramel_Candy

I have 3 and I pay them off every month.

You must earn some good money

I've only one since 2005, but I actually want two more......

~j

[YOUSUFofSD]

I have three, 2 credit cards and one debit card from my bank.

I only use one credit card, the other is for emergency, in case the first one gets denied or something.

Of course I pay it off every month as in not doing that then interest is then being charged.

Its hard getting out of the debt hole so be careful guys. I have a few friends that are climbing out now, they are always in 'awe' of the way Muslims deal with these things.

[YOUSUFofSD]

Originally Posted by jaani

You must earn some good money

I've have only one since 2005, but I actually want two more......

~j

lol i hope her reason for three credit cards aren't because she maxes one out and goes to the next.

she then must have an awesome job

[afrakabob]

two credit, one debit. lately i've been using the debit card more, because i feel more accountable being able to see the money disappearing from my bank account when i spend it.

[sumiyia]

6 i think... i use 2 which i pay off every month... mostly because they've gotten me free round trip plane tickets and other such perks

[jaani]

Ok, I'm a little slow on this, but to get benefits don't you pay a initial fee or something? Meaning, don't you have to pay a fee to get those benefits started?

Can someone explain please?

~j

[Variable]

I just have one. I have it set up so the balance is taken from my account automatically every month, so in that sense it's effectively like a debit card. (I did that in case I couldn't get to a bank or a computer)

[Caramel_Candy]

Originally Posted by jaani

Ok, I'm a little slow on this, but to get benefits don't you pay a initial fee or something? Meaning, don't you have to pay a fee to get those benefits started?

Can someone explain please?

~j

To get the miles/gift certificates/electronics/etc most cards have an annual fee (some have no fee) that you pay and then for every $1 you spend you earn 1 mile. Some cards are more competitive and they offer 3 miles for every $1 you spend. For example, my Bank of America credit card charges a $19 annual fee and gives me 1 mile for every $1 I spend. My Chase credit card on the other hand doesn't charge me an annual fee and I get 3 miles for every $1 I spend. Basically the fees vary from company to company but the same idea applies.

[YOUSUFofSD]

Originally Posted by jaani

Ok, I'm a little slow on this, but to get benefits don't you pay a initial fee or something? Meaning, don't you have to pay a fee to get those benefits started?

Can someone explain please?

~j

maybe some do, but mine don't. I found the credit card offer on slickdeals.net a couple of years ago, and put everything on it for the extra perks. I'm able to get a 50 dollar gift card to amazon(for example) a month. There is no regular, nor startup fee for that.

Cash Back Credit Cards with Best Rewards - CreditCardGuide.com

[jaani]

Originally Posted by Caramel_Candy

To get the miles/gift certificates/electronics/etc most cards have an annual fee (some have no fee) that you pay and then for every $1 you spend you earn 1 mile. Some cards are more competitive and they offer 3 miles for every $1 you spend. For example, my Bank of America credit card charges a $19 annual fee and gives me 1 mile for every $1 I spend. My Chase credit card on the other hand doesn't charge me an annual fee and I get 3 miles for every $1 I spend. Basically the fees vary from company to company but the same idea applies.

Originally Posted by YOUSUFofSD

maybe some do, but mine don't. I found the credit card offer on slickdeals.net a couple of years ago, and put everything on it for the extra perks. I'm able to get a 50 dollar gift card to amazon(for example) a month. There is no regular, nor startup fee for that.

Cash Back Credit Cards with Best Rewards - CreditCardGuide.com

You both are awesome.....thanks!!

~j

[heba]

one and i just got it less than 2 months ago and i dont even know how to use it properly