Many people first start thinking about making another credit card after knowing the benefits of using credit cards. If you are also thinking about other credit cards, then it is important for you to know some things. Experts say that payment becomes very easy for you with a credit card, but it is also a liability. Therefore, it will be fine to get a second credit card only when you really need it. This means that it is not right to get a second credit card for hobbies.
Frequent applying for credit score
Experts say that the application of the second credit card may also have a negative effect. If you first repay the credit card bill on time and your bill payment record is excellent only then you should apply for another card. The bank looks carefully when you apply for another credit card. If you keep applying continuously, the bank understands that there is a problem of cash flow with you. In such a situation, the bank can dismiss your application.
At least 3-6 months weight period for second card
Many banks and credit card issues recommend waiting for at least 3 to 6 months for another card. The reason for this is that during this time your adequate payment history is made. Your utilization ratio is ready. It is also known that you are interested in paying the entire bill or you just want to make partial payment. If you pay the bill on time during this time, do not keep the balance much and never default, then the bank can show you interest in issuing another credit card. He can also offer you more credit limit.
Decide yourself according to your financial situation
Experts say that there is no rule of 3 to 6 months of weight period. You can also decide the weight period according to your financial condition. If it seems that you need another credit card but your cash flow is not enough, then you can wait till the next increase in salary. If your first credit card is constantly running on the credit card, then you can first focus on finishing it. Experts say that many people make a second credit card because they want a suitable bill bicycle for themselves.
The biggest advantage of second credit bill changes in bicycle
The jobs usually have to face money pressure at the end of the month. In such a situation, if they have a bill bicycle credit card starting in the second or third week, then they get a lot of help. This can be understood by an example. Suppose your credit card statement date is the 15th of the month. This means that if you make a transaction on the 16th, then it will be seen in the bill to be prepared on the 15th of next month. You have to pay it at the beginning of its next month. Since the salary comes at the end of the month, it is easy to pay the bill at the beginning of the new month.