Know the Facts of Multiple Credit Cards

Having multiple credit cards can be a major advantage to you but there are also disadvantages. You might be worried that you will lose track of your payments and this could be catastrophic to you finances. This is not necessarily the way it should be and there are ways of managing these cards. Of course personal preference is also a factor and you should have as many credit cards as you feel you can manage.

The Benefits of Having Multiple Cards

Some merchants don’t accept all cards, some may only accept Visa or MasterCard and in this circumstance it would be useful to have one or the other. Institutions have different rewards and by owning multiple credit cards you will be able to reap all those rewards plus those of your other credit cards. Also you will be able to build a steady credit history. Another great advantage is that you can dodge fraud by only using one of your multiple cards for internet transactions, consequently limiting scammers that hack into your cards to one only. Some cards are specialized in their remunerations; some may offer you air miles as opposed to some that offer you lower rates on other products. Therefore some like to keep one card for those specific areas because cards rarely offer two exceptional bonuses.

Another benefit would be that if you won a business you run from home or a small business, your expenses can get intertwined and you become frantic trying to separate the two. By splitting your home expenses credit card from your business card would be a wise decision. This makes your money more organized enabling you to focus on improving your home and business life.

The Disadvantages of Multiple Credit Cards

With the disadvantages it boils down to you. It’s about whether you are able to keep track of your payments. You need to ask yourself the following questions: Do you always pay your bills on time? Do you have a disciplined demeanor? Are you organized in your life and your finances? If your answer is yes then you will have no problems in handing the responsibility and you will be able to enjoy the rewards. Another disadvantage could be that you might hurt your credit score because lenders may think that you can’t pay your single card.

Having multiple cards can be both rewarding and disappointing. It depends on who the card holder is, if you decide on owning multiple credit cards you need to accept responsibility for them and don’t think it’s your ticket to be able to spend more frivolously. You need to also always start with one credit card, to test the waters and evaluate whether you are a diligent card holder, by knowing who you are with a card in your hand you and you only can decide if you will be able more.

Home Improvements Made on Credit

If you are currently working on some home improvement projects or surprising your better half with new appliances as a Christmas gift, one way to save a considerable amount of money during the holiday season or even throughout the year is to apply for a Lowe’s Credit Card. Lowe’s is one of the largest home improvement retailers in the US and they frequently offer credit card deals that can be too good to pass up.

Many retailers offer their own branded credit card as a way to get consumers to buy through credit and capitalize on this multi-billion dollar market. Often times, with introductory offers too good to pass up, if you are a disciplined consumer and well versed at paying your credit bills on time you can save hundreds of dollars depending on what you purchase. The Lowe’s Credit Card is a way to save your hard earned cash and still get a good deal.

Home improvement retailers are big businesses and it’s no wonder they too are cashing in on the credit market. It’s good business as they win customers who may have been inclined to shop elsewhere for appliances and other home improvement products at marked down prices. The Lowe’s Card can offer initial purchase savings as well as same-as-cash options for upwards of six months to a year if paid off by the end of the term.

Be careful though, as many retailers through in that you must make a minimum monthly payment to stay within the terms of the same-as-cash credit offer. Others however, will give you the entire length of the deal to make a lump sum cash payment before the end of the term, but these deal are becoming harder to find.

If you’re a savvy consumer and good at reading the fine print, you can save significantly by applying for a Lowe’s Card when you are purchasing for that next big home improvement project.