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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

The Reason You Need to Carry More Than One Credit Card

[March 4th, 2016]

How many credit cards does one person need? If you’re trying to cut down on the amount of clutter in your wallet, or simplify your finances, you might think the answer is obvious: only one! After all, why would you need more than one credit card?

The truth is, every adult should have more than one credit card ready to reach for at all times—and I’m about to tell you exactly why.

Fraud detection isn’t flawless. Most of us have experienced having our payment cards turned down because they were flagged for possible fraudulent use, when they weren’t being compromised at all. This can happen for a number of reasons: you were traveling and your credit card company didn’t know about it, you were doing a lot of shopping that you don’t normally do, or you bought something that seemed out of the ordinary. Credit card companies have gotten very good at figuring out when your card might be at risk for fraud—but their methods aren’t foolproof. For this reason, it’s good to have a backup card available. When your card is turned down because the account is frozen for suspected fraud, you can simply pay with your spare card and deal with the credit card company when you’re home and have time to call them.

And that’s not the only reason you really want to have more than one credit card at your disposal. Here are three more:

You can maximize reward points. Getting credit card rewards is one of the best, and most fun, reasons to use credit cards in the first place. Don’t limit yourself by only getting one type of rewards. Having a cash back card, a points card, a travel rewards card, and a gas credit card gives you more chances to collect valuable rewards. Free nights in hotels, free flights, reimbursement for miscellaneous travel expenses, gift cards to give on special occasions (or use yourself!), cash back and statement credits—all of them can be yours, if you play your cards right. (So to speak.) Make sure you have at least one frequent flyer rewards card and one rotating category cash back card at your disposal; those are some of the most rewarding cards on the market.

Balance transfers are a great way to pay down debt. If you’ve got a revolving balance on your credit card—that is, a balance you’re carrying over month to month—you might be paying too much interest on that balance. That makes it hard to chip away at your debt. Transferring that balance is an easy way to save on interest and wipe our your debt faster. Many credit cards offer zero-interest balance transfers for up to a year or more. Some don’t even have a balance transfer fee. Apply for one today if you’d like to be out of debt faster and pay less interest at the same time.

You never know when an emergency will come up.It’s always good to have an extra line of credit available, just in case. Put away your emergency card for a rainy day—just make sure to use it once in a while for something small that you pay off right away, so it doesn’t become inactive.

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[August 10, 2017]
When you realize your credit card number has been compromised and someone is out there spending money under your name, it’s one of the worst feelings there is. So Discover’s newest fraud-prevention program is good news for anyone who has experienced that sickening feeling of worrying that your c...
[July 20, 2017]
A new report has good news and bad news about savings in America. The good news is that the percentage of people without an emergency savings fund is at a six-year low, down to 24% from 28% last year. The bad news is that nearly a quarter of folks have no emergency savings at all. And while the perc...
[June 20, 2017]
Discover cardholders will be able to contact customer service more easily with the advent of in-app messaging, which allows customers to communicate with Discover customer service agents without having to stop and restart their interactions when they are logged into or out of their accounts on their...
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