What Is The Ideal Number Of Credit Cards To Have And Why? Read Here To Know More

Yes, it is tempting to apply for credit cards, especially when you have a good credit score and the banks are more than willing to have the paperwork done at your doorstep. But, before you go ahead, weigh the pros and cons of having multiple cards at your disposal. Read on to know more.

The Best Credit Cards In India

No doubt, any credit card agent trying to tempt you to go for their card will highlight their product as the ‘best’ credit card in India. And once you go for one, another agent from another company will follow, offering you their version of the best credit card in India.

Before you commit to having more cards and paying the annual credit card fees for each, consider your personal needs to select the right one for you. After all, it is a highly subjective need and varies from person to person.

For example, certain cards offer the best value for money for airfares and ‘free’ annual tickets. But if you aren’t a regular flyer, this would mean nothing for your own needs. Other cards offer cashback on fuel, which could be more suited to your lifestyle. Still, others could offer cashback and rewards for frequent dining experiences, while some offer great returns on purchases on online retailers like Amazon and Flipkart. Look at all these benefits, and select the ‘right’ or the ‘best’ credit card in India for YOU!

How Many Cards Are Not Too Many?

You can have as many credit cards as you want, provided you can handle all payments on time. In fact, there could be an advantage to having multiple credit cards. With different credit cards offering various benefits, as mentioned above, having multiple cards instead of the fabled ‘best credit card in India’ could mean using certain cards for certain purchases. A flight-friendly card to buy your travel tickets, a diner’s card for the restaurant outings, a cashback credit card for refuelling your vehicles, and so on.

There is no leagal limit of how many credit card you have to allowed to have. If you have a good income source then you can apply how much you want. But if you do not have any good income source then it’s your decision how much you want to apply for credit card  but the approval decision will taking by bank. So, as per our suggestion apply for a credit card according to your income sources. It will not affect your Cibil score.

The Vicious Cycle

Never use a credit card to pay off another credit card – that’s a golden rule to be followed. Neither does it do your savings any good, and nor is it the solution to your financial health. This can become a vicious cycle of the card after card until you find yourself in a mountain of credit card debt that seems impossible to clear on a salary. 

When this happens, people usually end up going in for ‘settlements’ with the financial organisations, leading to a negative impact on their credit ratings – which in turn minimises the chances of ever getting a good credit card in the immediate future. Rather than having multiple cards with multiple deadlines and payment dates, it will be best to have one or two cards with higher spending limits, to keep things under control. 

What About Times Of Emergency?

That is the benefit of having a credit card at your disposal. It is perfectly OK and the natural thing to do to utilise one or more of your cards in times of emergencies because that’s what crises demand. 

A medical situation, for example, can quickly be helped with the presence of a credit card payment for the immediate hospital admission procedures while you deal with the insurance desks for future disbursals. It is not ok, however, to use credit cards for luxury living that you cannot afford otherwise. Such spending leads to unhealthy lifestyles, and finally, when you cannot make timely payments, the blocking of your cards, and a damaged credit score. 

The Best Credit Facility

So, what could be the best credit card for any given situation? If you are unable to decide on the best credit card in India, maybe a pre-approved loan amount would be the answer. A pre-approved loan implies sanctioning an already-approved amount based on your income and previous commitments. For example, if your financial situation allows for disbursement of Rs. 5 lakh, this amount would be ready at your disposal whenever you should need it. Pre-approved loans qualify the customer to withdraw any amount, large or small, up to the pre-approved limit, with no future paperwork. And what’s more, you can similarly pay back any amount, large or small, at any time of the month to realign your monthly payback amount. This allows for the unparalleled convenience of the withdraw-and-payback process. 

There’s An Agreement Between Lender And Borrower In Which The Lender Allows More Flexibility As Compared To Traditional Loans. That’s Why Credit Cards Are The Best As Compared To Traditional Credits. So, The Best Credit Facility Includes Revolving Facility, Retail Credit Facility, Cashbacks And Discounts Facilities Through Credit, And Instant Withdrawal Facility. So, There Is Not A Fixed Bank That Has Different Flexibility In Their Credits. Some Have More Cashbacks And Discounts Some Have Rewards And Some Have More Instant Withdrawable.


It is OK to have as many cards as you wish and use them to your advantage. There is really no ‘best credit card in India’ – it depends on the person and their spending habits. A pre-approved loan could be the answer if you are unsure about the best credit card. 

No matter what the ideal number of credit cards you should have. The main thing is how much credit card you need and how many credit cards you can manage without any delay payment. If you only need one credit card then it’s enough to apply for one or two. So, that you can manage easily without any barrier or late fees. It all depends on your requirements and on your savings.

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