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In the modern world we live in, it’s nearly impossible to walk around without at least one credit card handy. So the million dollar question now is: should you have more than one credit card? Having more than one credit card can be risky if it falls into the wrong hands, but for those who are wondering if they should branch out and apply for another credit card, keep in mind of these benefits.

Emergencies

Having a credit card solely to use for emergencies is sometimes overlooked, but during an emergency you will appreciate having that extra card. Emergencies can range from unexpected hospital visits, to simply losing your primary credit card and having to wait for its replacement.Visa credit cardholders can get an emergency cash advance or a card replacement within one business day—or even within 24 hours in some cases—after approval. Visa can also work with AmeriChoice to expedite the replacement of your card and ship it globally within 24 to 72 hours. Either way, having a back up credit card can rid you of the worries that would require either of these solutions.

Rewards

For those who are eager to benefit from rewards programs, different cards may have different strengths. Cash back, travel points, special deals – these are just a few examples of reward benefits that having multiple credit cards can earn you. Credit cards such as VISA, American Express, MasterCard, and Discover all have their own rewards programs and benefits for cardholders. Use your Visa card to make purchases anywhere and you’re protected from unauthorized use of your card or account information. With the Visa Zero Liability policy 1, your liability for un-authorized transactions 2 is $0—you pay nothing. For our Platinum Preferred VISA holders, a Visa signature Concierge is available 24/7, which means, from travel research, to booking tickets to a show, your concierge is ready to help.

Traveling

When traveling abroad, having a backup credit card is a good idea. Did you know that when you use your Platinum Preferred VISA to book your travel, you are covered for up to $1,000,000 in travel accident insurance? Also a good idea! Another thing to keep in mind, cards that offer EMV or smart chip technology, (like our VISA cards!), provide greater acceptance and added security at chip-enabled merchant terminals when making purchases outside the U.S. Also, don’t forget to always call your credit card company or your financial institution before you travel to make sure you understand any currency conversion or foreign transaction fees you may encounter when using the card abroad. With an AmeriChoice VISA, you can also enjoy peace of mind knowing that if your Visa card is ever lost or stolen, assistance is only a phone call away. Call the Visa Global Customer Care Services and a Visa representative will work with you to notify the appropriate parties and replace your card.

Potentially Bettering Your Credit Score:

Part of your credit score is based on the percent of available credit you use. By having multiple and properly managed credit card accounts, your credit score can be boosted. It shows that you can manage credit responsibly, and have a handle on your finances. This is especially true if you have balances on all of the accounts and you always make your payment on time. Steady payments have the ability to significantly boost your credit score over time.  I use the word “potentially” in the title because if you “max out” all your cards or miss payments, you will end up hurting your credit rating.