Is there a point owning 2 credit cards ?

qoutp

Hi there,

I've asked you in a previous post what would be the best card for me between and Amex Cashback and the Amazon Platinum Credit card. The Amex Platinum Chargeback was the obvious choice.

Now there's still a small amount of my monthly spends that I can't do on my Amex (I'd say around £100-£150).

Would it make sense for me to ask for the Amazon Platinum Credit card for such small amounts ? Would it actually be a good thing for my credit score or would my credit score take a hit because I own 2 credit cards (knowing that I would ALWAYS pay the full balance on both cards at the end of the month) ? (bear i mind I never had a single credit card before).

Also, is it possible with a card like the Amazon one to just set up a direct debit to pay the balance in full at the end of each month so I won't have to think about it ? (Since I wouldn't use it much, I don't want to "forget" paying the full balance).

The idea would be to never use my debit card (what's the point using a debit card and get nothing when you can be rewarded if you use a credit card?), and potentially use the Amazon one for my Amazon purchases (which would be more interesting than the Amex cashback). It would literaly be a card that stays in the wallet and do nothing except once or twice per month (when the Amex card isn't accepted).

elsien

That's pretty much how I use my two cards. Also helpful when you manage to lose one of them.

[Deleted User]

Two cards is very wise.

Any impact on your credit score is as meaningful as the colour of unicorn poop, but it's important to have a back up.

adindas

qoutp wrote: »

Hi there,

I've asked you in a previous post what would be the best card for me between and Amex Cashback and the Amazon Platinum Credit card. The Amex Platinum Chargeback was the obvious choice.

Now there's still a small amount of my monthly spends that I can't do on my Amex (I'd say around £100-£150).

Would it make sense for me to ask for the Amazon Platinum Credit card for such small amounts ? Would it actually be a good thing for my credit score or would my credit score take a hit because I own 2 credit cards (knowing that I would ALWAYS pay the full balance on both cards at the end of the month) ? (bear i mind I never had a single credit card before).

Also, is it possible with a card like the Amazon one to just set up a direct debit to pay the balance in full at the end of each month so I won't have to think about it ? (Since I wouldn't use it much, I don't want to "forget" paying the full balance).

The idea would be to never use my debit card (what's the point using a debit card and get nothing when you can be rewarded if you use a credit card?), and potentially use the Amazon one for my Amazon purchases (which would be more interesting than the Amex cashback). It would literaly be a card that stays in the wallet and do nothing except once or twice per month (when the Amex card isn't accepted).

Two credit cards are a necessity. If you loose one or being reject on transaction, you could still use the other one.

People have credit cards as many as they need and be able to take advantage of it.

Some people here have more than ten credit cards. I used to have more than a dozen credit cards, but I have closed some as I do not need ti anymore.

B19JON

I really want to settle on 2 cards to use but in my case it's all over complicated.

I use the following:
Natwest MC - contactless transactions only
1% cashback for supermarket shop + 1% for it being contactless

Halifax Clarity MC - only if there is a cashback offer available, which is pretty frequent

Barclaycard Duo
Visa- pretty much anywhere that does not accept amex
Amex - 1% cashback - pretty much everything goes on here

American Express Platinum Charge card - Mainly kept for the perks
American Express Green card - Mainly electrical products ( extra warranty )


But now i'm thinking to just getting a Lloyds avios card and start collecting avoid instead of cashback...

CLAPTON

only two?..............................

qoutp

Regarding the credit score thing, eventhough applying for a 2nd credit card may hurt my credit score in the short term, do we agree if I barely use my 2nd card (100-150£), which means a very good utilization ratio, it will have a positive impact on my credit score in the long run ?

[Deleted User]

We agree that your credit score is entirely meaningless.

Some lenders will feel more comfortable with a better utilisation ratio. Others, however, may not care.