Is there any problem having multiple LTF credit card?

[anandparekh]

I am planning to have all major banks good LTF credit card so that I can get good offers / discount/ cashback on whatever I buy online or offline or book ticket. I always pay on time and keeps credit utilisation ration below 30% of each card. ( If the amount goes higher than 30% I pay difference before bill date so that 30% remains intact).
The other idea is to pay the amount upfront so that bill goes to zero always.
Is ther There would be any problem in future if i keep multiple LTF CC and follow either of them for payment ??

 

[abhimarda]

I am planning to have all major good LTF credit card so that I can get good offers / discount/discount on whatever I buy online or offline or book ticket. I always pay on time and keeps credit utilisation ration below 30% of each card. ( If the amount goes higher than 30% I pay difference before bill date so that 30% remains intact).
The other idea is to pay the amount upfront so that bill goes to zero always.
Is ther There would be any problem in future if i keep multiple LTF CC and follow either of them for payment ??

No issues at all. But when you are taking multiple LTF cards, do not apply them quickly in small span of time which may have adverse impact on credit score. Also, I hope you will be able to manage multiple cards without issues else this will be a hassle. Make sure that you take the cards of those banks first who tend to see overall leverage (total limit on all cards to total income) in giving out credit cards.

I have done the same.

 

[Skylar]

I am planning to have all major banks good LTF credit card so that I can get good offers / discount/discount on whatever I buy online or offline or book ticket. I always pay on time and keeps credit utilisation ration below 30% of each card. ( If the amount goes higher than 30% I pay difference before bill date so that 30% remains intact).
The other idea is to pay the amount upfront so that bill goes to zero always.
Is ther There would be any problem in future if i keep multiple LTF CC and follow either of them for payment ??

It’s advisable to start with SBI credit cards because obtaining them later might be challenging due to overleverage issues if you already have multiple cards.

Disadvantages:
- You must use the card at least once a year to avoid inactivity and closure.
- If you have OCD, managing multiple cards can cause unnecessary stress.
- Deciding which card to use for each purchase can be confusing.
- It’s hard to concentrate on one bank or card to maximize benefits like upgrades and limit enhancements.
- Keeping track of different billing dates for multiple cards can be cumbersome.
- Some cards come with annual fees that might not be justified if you don’t use them frequently.


Advantages:
- 10% instant discounts during sales when you have the right cards.
- Multiple cards offer flexibility in choosing payment options.
- Different cards provide various rewards, such as cashback, travel points, and shopping vouchers.
- Having multiple cards can help maintain a lower credit utilization ratio, which is beneficial for your credit score.
- Extra cards can serve as a backup in case of emergencies or if one card is lost or stolen.
- Access to exclusive offers and promotions from different banks.

 

[zacobite]

I am planning to have all major banks good LTF credit card so that I can get good offers / discount/discount on whatever I buy online or offline or book ticket. I always pay on time and keeps credit utilisation ration below 30% of each card. ( If the amount goes higher than 30% I pay difference before bill date so that 30% remains intact).
The other idea is to pay the amount upfront so that bill goes to zero always.
Is ther There would be any problem in future if i keep multiple LTF CC and follow either of them for payment ??

good plan.. 30% is v high.. keep as low as possible... only spend whr necessary and no manufacturing of spends.. gd luck