I know, I know, you get a new credit card offer more often than you take a shower. From the checkout line at Home Depot to the pre-approval letters waiting in your mailbox, everyone’s vying for a share of your wallet.

In view of this onslaught of offers, you’re not alone if you’ve asked yourself, how many credit cards should I have? To help you answer this conundrum, we’ve put together a few reasons that you might—or might not—want to get multiple credit cards.

Always Ask This One Question:

Whether you are looking to get your first credit card or your seventh, you still need to look yourself in the mirror and ask one important question: ‘Can I pay off my credit card balance(s) each month?’

If you can answer ‘yes’ to that question, then you’ve learned the first lesson of credit card management: discipline. If you are unable to pay off the balance each month, then our message for you is extremely simple: Don’t get multiple credit cards until you master the one you have, and can use it with prudence.

Having One Credit Card Is Essential

In the modern marketplace, having a credit card is essential. Here’s a few key reasons to consider having a credit card and using it to make most payments:

  • Worldwide Acceptance: If you travel at all, then using a credit card may simplify your experience quite a bit. VISA credit cards, such as those offered by Deseret First, are accepted in more than 200 countries and territories, and at over 25 million merchants.
  • Fraud Protection: Credit cards often offer more fraud protections than when you use a debit card or cash. For example, at Deseret First, we offer FREE 24 hour fraud protection and FREE ID Theft Protection with monthly card usage.
  • Build Credit: If you’ve never had a credit card or loan before, then the best place to start building your credit is to get a credit card and use it responsibly. Here are two important guidelines to follow: Pay off the balance each month, and never have a balance over 30% of the credit limit.

Two or Three Cards May Be Okay If…

If you have the discipline to pay off your credit card(s) each month, then there are a few situations where having more than one card could benefit you.

  • Backup Card: If you use credit cards to make most of your payments, then it is a good idea to have a backup card in case your primary one gets lost, stolen, or compromised. It can often take days or weeks to receive a replacement card.
  • Wider Acceptance: Merchants may not always accept your credit card of choice, so it may help to have two cards from two separate issuers. If you have an American Express, for example, you may be turned away from some businesses that don’t accept it.
  • Maximize Rewards: Some cards have great rewards when you buy gas, others when you book a hotel room. Using two or three different cards may help you maximize these rewards offers.

Deseret First Credit Cards

If you’re looking for a great credit card, then we’ve got you covered here at Deseret First.

For questions or to apply, call 801-456-7000 or 1-800-326-3328 M-F, 9 am-7pm, Sat. 9-2pm or visit a Utah Deseret First Branch.

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