Why should you hold multiple credit cards?

Credit is still used with a certain degree of apprehension owing to the possibility of entering into a debt trap. However, if used wisely, multiple credit cards may actually help to bolster one’s financial health and liquidity.
Here are a few factors that make holding multiple credit cards beneficial -

1- Reduced CUR
The standard credit utilisation ration is around 30%. When one decides to apply for a credit card for the second time, it becomes easier to maintain the credit utilization ratio in the first card.

2- Enhanced credit limit
When an individual uses more than one credit cards, he or she has the option of availing a higher credit limit. With all the cards combined, the overall limit becomes automatically more when compared to one credit card.

3- Better credit score
One has the option of improving the credit score by paying the bills on time. If the credit score is high, it will also automatically help in loan application.
Prominent NBFCs such as SuperCard that includes the option of interest-free cash withdrawals from ATMs s among others. Owning such a financial tool can prove beneficial because of the added features and benefits offered.