Do you really need so many cards?

Do you really need so many cards? A very healthy exercise is to review all our financial products from time to time. However, while this is more or less common for products such as accounts, or savings or investment products, we don’t always do it in relation to cards.

And yet we generally accumulate more cards than we really need.

How many cards do you have?

It is likely, as happens to many people, that if you review the volume of cards you have contracted, it is higher than advisable.

It is interesting, for this very reason, to stop and check how many cards you actually have. Having more cards does not at all mean taking better advantage of the benefits of this type of product; in fact, in many cases it means making it worse and harming finances with a higher volume of interest and dispersion of operations.

In the review, debit cards are distinguished from credit cards. Debit cards when associated with different accounts may make more sense than debit cards. However, we live in an age where there is a tendency to bundle products, so it would be interesting to also consider the number of checking accounts you actually use at this point.

How many cards do you need?

There is no universality here. Each user is really a different world and each need is different. However, if you had to establish an average, it would be as follows:

  • A single credit card: it is not really necessary for most users to have more than one credit card. In a single credit card we should find the method of payment for those deferred payments that we need, if possible, without interest. Remember that using a credit card for cash is probably the most expensive formula next to quick loans.
  • One or two debit cards: debit cards, when linked to different accounts, can be an interesting tool. For example, if you have a direct debit payment account and an expense account, you can attach a debit card to each of them as it makes sense. However, having cards exclusively for accumulation in accounts that have hardly any movement does not make much sense.
  • A prepaid virtual card: for Internet payments it is very interesting to have a prepaid virtual card. As we have already analyzed on other occasions, prepaid cards are really interesting both for everyday use and for Internet payments. In this case, for Internet payments it is advisable to have a virtual card, which cannot be used physically at ATMs or POS, but which is perfectly suitable for making payments, with the security of being used only when it is recharged.

It is true that, in addition to the above, other discount cards can be added, issued for example by fuel supply companies, or by large supermarkets. But it is important that these cards, in any case, are not credit cards, but, in any case, payment advantage cards. And, of course, we must in any case flee from revolving cards.