A lot of us out there have more than one credit card in our wallets. This is a pretty common occurrence, but one that is of high risk. Having many credit cards at once means that you are likely to use all of them.

This definitely increases your debts as it can be quite hard to manage the payments of all the cards. First of all, you must learn to understand the many different terms of service that are associated with the cards.

Depending on how you manage the many different and important factors associated with your many credit cards, this can most likely raise or lower your credit score. Read on to learn how you can manage multiple lines of credit.

Learn How to Manage Multiple Lines of Credit at Once
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What Is the Risk of Having Multiple Credit Cards?

It is hard to manage all the due dates, which can lead to late payments and bad reports on your credit report, and it can eventually lead to a lowering of your score.

You have access to more credit, and you are likely to overspend and live beyond your means. This could be the start of messing up your credit score.

The average length of your history can decrease as you may be required to close some of them occasionally, and any time you close your credit card, it decreases your credit history and lowers your score.

It definitely means that you have a high number of credit inquiries, and every time you apply for a credit card, the lender must pull your credit report, and whenever they do this, they decrease your credit score by a few points. This means that with many credit cards, your score has reduced by many points.

Make Sure That Credit Doesn’t Go to Your Head

Before taking out all of the different credit cards, ensure that you can control your spending, and keep your utilization rate on all the cards below 30%. 

Credit card companies will be more than happy to give you new credit cards if you have a good credit score and a stable income. Although this is the beginning of the end for you in terms of your score if you don’t pay the cards on time.

Always Know Your Due Dates

Learn How to Manage Multiple Lines of Credit at Once
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Each card has a few very vital dates to keep track of. You should have an excel spreadsheet set up to help you keep track of these dates. This simple trick can take care of most of the problems that are associated with having multiple credit cards.

Most companies close the card holder’s statements on the same day each month. This is a useful date for you to know, and it could make the difference between paying for a big purchase in 55 days, or 25 days.

The payment due date is the most important date as it is the day of the month that you have to send money to the credit card company. The first day of the cardholder’s year, and this is the month when the annual fee of the card hits your statement.


Credit cards are essential to establishing credit, and having credit allows to rent apartments, purchase homes, or purchase vehicles. We need credit cards to be productive citizens.

Having multiple credit cards is certainly not advisable though, and any financial counselor will tell you to avoid this as much as you can, as nothing good comes out of it. But, if you truly must have a card, try out tips above to keep on top of things at all times.