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Most people don’t usually think too much about these kinds of things until they need to do something about them. Everyone has several bank cards. It’s just that different people have different types of cards and what they usually do with them. If you are a young person, it’s quite likely you only have one card, which is quite likely a debit card. If you are a married person, you quite likely have a credit card. The only difference? Probably a difference between the credit limits, that’s all.
If you have no idea how many bank cards you should have, allow me to make things easier for you to understand. Having too many cards isn’t necessarily a good thing. Having just one card isn’t exactly a great idea either.
1 – Have 1 bank card
If you are a student, then having 1 debit card should be sufficient for now. All you need that card for is to buy your own personal things and pay for tuition fees at the most. It’s quite likely your parents will deposit an amount of money for you to use every month. Perhaps you’ll also use this card for your part-time job salary crediting purposes as well.
For now, having this one debit card works okay. You do not have a lot of commitments, hence having that 1 card is sufficient.
2 – Have at least 2 bank cards
If you are a fresh graduate and have started working, get yourself at least 2 bank cards. It can be either 1 debit card and 1 credit card, or it can be both debit cards. Basically, have 1 card for salary crediting purposes, and another card for savings purposes. On the 1 card that you used for salary crediting purposes, you can use that card for monitoring your expenses. Whatever money you have spent there, you may track it on a monthly basis.
The other card where you’ve used it for savings? Basically, you can just dump all your savings in there and never use them. As a matter of fact, don’t bother taking it out of your purse or wallet so you can save it as much as possible.
3 – Have at least 3 bank cards
If you are married already, then have at least 3 bank cards. One of these 3 cards better be a credit card because you will need it for your loans and mortgages. You will find having a credit card useful when you need to make some advance payments, especially when you don’t have sufficient money at hand at that point in time.
Always remember that credit cards have credit limits. You may or may not get a higher credit limit depending on your income. It’s still good to have a credit card nevertheless if you are planning to start a family.
Never have too many bank cards
For real. If you have too many bank cards, think about what you are going to do with all of them. If it’s a debit card, it’s no big deal as it will just remain there as it is. However, if you have a credit card, it’s a whole different story. You will need to maintain it on a regular basis. Are you ready for such a commitment? Not everyone is ready for such commitments. You may not be one of them. Just saying.
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