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Owning one credit card is enough

This may not be a very popular thing to do as I know a lot of people who have a stack of credit cards in their wallet so that when they buy something or dine in a restaurant, they can ask " Any card got any discount?" or simply just to figure which card would give the highest rebate on their purchases.

Not that this is not a good thing, but it isn't really applicable to me because I don't spend much in the first place.

I may consider starting to analyse which credit card offers the highest cashback/rebates if I'm expecting to buy a lot of stuff or spend a lot of money, but for now, one credit card works just fine for me.

I'm have been crediting my salary into the UOB One account and using the UOB One credit card for the since I finally hit their minimum annual income requirement.

I don't see the need to increase the credit limit now even though I could because I hardly buy anything that is beyond the limit. 

It makes it easier for me to track my spending and save me the hassle of requesting annual fees waiver from multiple banks.

I never missed a credit card bill and have never paid any interest to the bank.

Maybe it's because I prefer to be the one receiving the interest.

How about you? How many credit cards do you own?

Comments

  1. The SunJune 22, 2020 at 6:48 PM

    Having a ready stack of credit cards to take advantage of offers and promotions may lead to a higher level of discretionary spending. May not be a good thing if one is striving to live a frugal lifestyle..

    ReplyDelete
    Replies
    1. GenevieveJune 22, 2020 at 8:00 PM

      Hi Sun

      Yea, but I think it depends on the needs as well, if someone is buying a house and is expecting to spend a lot on furnitures and appliances, then maybe it would be worth it to comb through the promotions :P

      Delete

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