There is no clear-cut answer to this question, as it depends heavily on your financial circumstances and individual preferences. However, multiple credit cards can be an effective way to maximize travel rewards and gain access to unique card perks.
Consider having at least two credit cards when choosing how many to bring on your next journey. Here are some key considerations when making that decision.
1. Keep it simple
Credit cards offer travel convenience, rewards programs and interest-free financing perks; but how many cards to carry is ultimately up to the individual based on his/her credit score, spending habits, travel needs and more.
Some people prefer keeping a slim wallet with one card that earns cash back, while others may opt to bring multiple cards for different uses while traveling, especially if their rewards or benefits relate to specific travel brands or destinations. It can be helpful having multiple backup cards in case one or more are rejected while away, especially when traveling abroad where card acceptance may vary considerably; always ask your card issuer about payment networks they participate in and how widely accepted their cards are overseas before leaving so you can determine which cards to bring with you.
2. Keep it safe
No matter if you travel alone or with others, keeping cards separate while traveling is best practice to prevent losing one or more without an alternative source of funds. Keep extra cards locked up safely in a hotel safe or with trusted travel companions to increase safety during travel.
Don’t forget to inform your card issuer of your travel plans; this could prevent an initial purchase away from home being misidentified as fraudulent and risking being flagged for rejection.
Credit cards make traveling and earning rewards easier than ever, yet can also put your credit at risk if used irresponsibly. Here are a few tips to keep your cards safe during an international vacation and to maximize rewards and miles accrued along the way. Enjoy!
3. Don’t overdo it
While there’s no definitive answer when it comes to how many credit cards is too many, it is essential to keep in mind that credit cards can have either positive or negative ramifications on your finances. When used responsibly, credit cards can help build credit and provide various advantages like rewards and interest-free financing as well as travel protection. But without proper oversight it can easily become too many for one’s own good; having too many cards may make tracking spending, payments, and monitoring credit health difficult; thus CNBC Select conducted interviews with experts who shared best practices for keeping control of one’s own wallet. To gain further insights, CNBC Select interviewed credit experts on keeping numbers of cards under control – all while protecting one another.
Read the entire article on CNBC Select.
4. Make it work for you
Your travel credit card options should depend on your financial situation, spending habits and rewards goals. Most travelers carry between one and two cards–an earn-travel-rewards card as their main tool, plus one as backup in case it doesn’t work at a destination location.
Have multiple cards can also help ensure the accuracy of spending information sent to credit bureaus, helping your utilization remain at an acceptable level and potentially impacting your score in a positive way. How much this matters ultimately depends on individual spending patterns and credit usage levels.
Experienced cardholders who know how to use credit cards when traveling can use this approach as an effective means of earning rewards while exploring the globe! Simply make sure to be organized and take some best practices into consideration prior to embarking. Good luck and enjoy!
