Do you own more than one credit card? Here are pros and cons you should know

Credit cards have become a widely used financial tool today. Many individuals choose to own more than one credit card. While these cards offer the convenience of making purchases even without immediate funds, it's important to remember that the amount spent must be repaid by the next billing cycle. Excessive reliance on credit cards can often lead to a debt trap, where failure to pay dues on time may attract high interest rates and penalties, sometimes as steep as 24 per cent. In this article, we will explore both the advantages and disadvantages of having multiple credit cards.

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