Can one person apply for multiple credit cards at the same time?


Some novices who are new to credit cards will ask this question: Can one person apply for multiple credit cards at the same time?

It's possible, but it's not recommended!

1. It is easy to become a risky user of the bank

There is a very important reference for credit card and loan approval - credit report. If there are too many applications within half a year,min pay too many failed applications within half a year, or too many hard inquiries in a short period of time, the bank will regard them as high-risk users. It will have an impact on future card applications and loans.

2. Cards are difficult to manage

First of all, credit cards generally have annual fees. You need to swipe the card a certain number of times or in an amount to be exempted from the annual fee.ofw quick cash loan online If you don't swipe the card the required number of times or in the amount, you will have to bear the loss of the annual fee. In addition, if you use multiple credit cards, if any one of them is not repaid on time, it will become overdue, accrue interest, and ruin your credit report.

3. Not conducive to raising the quota

Everyone has a total credit limit,debt consolidation and more cards occupy a larger credit limit. Even if each card is frequently swiped and the credit record is good, it is difficult to get the chance to increase the limit greatly.

It should be noted that if you apply for multiple credit cards at the same bank at the same time, there are regulations:

When applying for a credit card online, you can apply for multiple credit cards of different card types; you can only apply for one credit card of the same card type. However, all credit card limits under the same bank's name are shared.

So, how many credit cards is appropriate for one person to have?

From the perspective of consumer demand, it is recommended to hold 2 or 3 credit cards as the most appropriate