Hello there guys! I have always had just one Visa credit card from one bank. I really like that bank and have a good and trusting relationship with them. However, since there is another bank's branch inside my company, it's only convenient that I had an account there, then when I need to talk to a manager, pay something directly in the bank or even use their own ATM I can do it easily and efficiently. I opened an account there too, and they sent me not one, not two, but FOUR cards! One debit and 3 credit... I canceled 2 of them, but decided to maintain the Visa and Mastercard credit cards, since I'm not paying any extra fees for them and both have nice miles and rewards programs. What I wasn't counting on is that with these 2 cards combined with the other credit card from my other bank, I now have 3 credit cards! While I'm not exactly paying anything extra for 3 credit cards than I paid for 1, it's dangerously convenient to have 3 different cards with different payment dates...the thing is, I only have one salary! So the consequences this month is that I won't have enough money to pay for my bills this month!
Oy, be careful with that! My recommendation is to only keep the debit card and single credit card on hand with you. The debit card is what you would need for convenience's sake at an ATM, etc, so it's the only card you should keep with you from the new bank. Now if one of the new credit cards offer better rewards than your main one, by all means, switch to that one....but don't be tempted to carry all 3 cards with you all the time! Tuck the others into a drawer or something for emergency purposes only.
I did the multiple credit card thing for a few months and quickly changed away from it. I just lost track of what I was spending on each card and it got really out of control. I wouldn't recommend it to anyone, especially someone who is just starting out in the work force.
