Is it worth keeping second credit card?

Contessa

I have two credit cards. I only use one (for the protection offered). It has a small balance. A new card has just arrived for the second card which I keep for "emergency use" if on holiday abroad.

Is there any point in keeping the second one? Thanks for any answers

grannypep

It depends on the card and what you want. Maybe the 2nd card is fee free overseas and the 1st card isn't. Maybe the 2nd card offers balance transfers at 0% from time to time. You said you're carrying a small balance. People's interpretation of small balance probably varies but depending on your circumstances you might (only might) save interest by transferring the balance from one card to the other. This however is not always possible if the cards are within the same banking group. I always have suggested to people they use the credit card for the consumer protections and pay off the balance before the due date if that is at all possible and, if it isn't, pay it off as soon as you can at a 0% offer if possible. I used more than one credit card to finance a home improvement a couple of years ago, including one that I rarely used, while I got the money jiggered about to pay before due dates and I didn't pay any interest. You'll know what was in your mind when you opened these credit cards but it's always a good idea to assess where you are financially regularly. I wish you well deciding what to do.

mebu60

If one is Mastercard and the other Visa it could be worth keeping the second card in case of issues if one of the payment networks has a meltdown. You never know when it may be useful to have a second card. I have one card that is solely for one-off online purchases from sites I've not used before or rarely use so if it was to be comprised it won't affect my main cards.

If you have a DD set up to pay off the monthly balance be aware that some institutions lapse a DD instruction if it is unused for 13 months. Others can be up to 24 months. Worth testing your emergency card with a small purchase a few months before taking it abroad to ensure all is working as it should if you've not used it for a while.

grannypep

https://forums.moneysavingexpert.com/discussion/comment/82138924#Comment_82138924

I agree with this.

giraffe69

If you have ever had a card refused, for any reason, you will be grateful to have a back up and, as said, one Visa and one Mastercard gives you added flexibility.

Contessa

Thank you for all your replies. I'm keeping the second card now.

horsewithnoname

I’ve got 7 cards. Best to have more than one I think.

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/comment/82142413#Comment_82142413

Though for some people the best number of CCs to have is none!

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82143041#Comment_82143041

sure, if you don’t use them responsibly

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82142413#Comment_82142413

Either Two or three is probably an optimum for most punters that have spending self-control.

GeoffTF

I have two bank accounts with debit cards, and a credit card with one of them. That allows me to carry a MasterCard and a Visa card, with a third card locked away at home. That seems to be enough for me.