Multiple Credit Cards - Advantages and Disadvantages - EXPLAINED!| Ankur Warikoo Hindi

Should you have multiple credit cards or just one?

How does it affect your credit score?

How to make the best use of your credit card?

We will discuss all the basics of having multiple credit cards, and to make sure you do not end up spending more than you should on them, in this video.

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[Yuyuyufucgicic]

I'm 22 now and a working professional and have been using credit card for past 2 years and it has changed my life. The best thing credit card taught me is how to manage money and that will last with me forever.

[lifelovedeath]

I love how you start the video with the juicy bits right away now! No intros/prologues

[curiousindian]

One important disadvantage you missed- The Annual Fee. Most good rewards based cards have an annual fee and it is waived off only after spends of a certain amount. If you have too many cards, you may not be able to reach that spends mark and would end up having to pay the Annual Fee.

[hemantabcde]

Great video! These are such basic concepts regarding credit cards, but most people are oblivious about them.
I have 17 credit cards and have managed to use them efficiently for almost a decade now.
Discipline is imperative.

[RajKumar-ogqe]

I am using 9 Credit Cards from different banks, paying all bills on time and enjoying credit limit and rewards

[siddheshk]

If you have good financial discipline and pay in full without fail then good to have separate cards for
1. Travel (Co-brand or Amex)
2. Dining and Shopping
3. Fuel (Surcharge waive off, 4-7% cashback)
4. Any card from Rupay (lesson learned after Russia war and blocking by Visa and MasterCard)

[ravindersinghrathore]

You are awesome sir.. the way you explain things is just next level.. ❤

I'm 24 working in HDFC Bank.. I'm very sorted and smart enough to understand how much i have to spend and manage expenses.. and I like to have credit cards so thats why I'm having almost every bank credit card which is in the market 😅 i have almost 13 credit cards of different banks and now using all of them to make money from money 💸

[digitaldeepak]

I have 5 credit cards and planning it cut it down to 2. Easy credit is a trap.

[akashpandey]

I have 4 credit cards & maintaining cibil score also ✨✨✨✨

[crrock]

Nice observation... Few of following. Few needed to be. Thank you and team.

[ashishojha]

I've 18 credit cards under my name over past 7 years. Never missed a payment, never paid minimum due, but still I think I've collected too much. I'm keeping them stacked in my locker as most of them are life time free. Only 2-3 cards are on regular usage.

[happyagarwal]

Sir I appreciate ki Aaj aapne Mr. Whosetheboss ki tarah straight to the point video shuru kiya har baar ki tarah backstory ka rona dhona nahi kiya

[sanjaybanik]

Presently having 10 credit cards and using them frequently and efficiency. Cred is helping a lot to manage them. Thank you for your knowledge

[rohitchoudhari]

I got 10% instant discount when I bought a fridge along with 50% interest as cashback from merchant. EMI i selected was 3months to avoid every month additional hidden charges.
If I paid full, I would have got just 2% back or in cash, no discount at all.
Credit cards have huge power of discounting your purchases and it is awesome product to have with you.

[swadhenshetty]

Hello Ankur, thanks for the video. However, if we have multiple cards, we don't have to split among different cards to lower the Credit utilization ratio IE: if we have 2 different cards with a limit of 1L each, and if we end up spending 90K on one card, the credit utilization ratio will be 45% regardless if we split the spending. (Based on my credit report, please correct me if I am wrong)
That being said there are other reasons to split spending on different cards as you have mentioned in the video :)

[ashishsharma]

Thank you for this Video. Loved it. It was like, a father figure is giving me advice on handling money.

Thank you once again 😊

[Wasim_em-pire]

I have 7 credit cards & your explanation is 💯 correct 😊

[rahulsurya]

Ankur Sir, Ek Number Explained.. Superb...🤩😍😍😍

[cutebabyshivaarth]

Actually I was waiting for such video from your channel