You may have just one credit card in your wallet - or you may have several. But no matter how many credit cards you choose to carry in your wallet, you should make sure you're diversifying the kinds of credit cards that you own.
Why? Because each credit card has its own specific benefits, all of which can help your personal finances differently in the long run if you use them responsibly.
For example, it can be beneficial to use one credit card of online shopping exclusively (specifically the Discover More® Card) and another for booking flights and on travel purchases (the Chase United MileagePlus Explorer Card, for example). That way, you're making the most of each rewards program by tailoring your purchases specifically to these cards.
Think about it - you might want miles, you might want cash back and you might want a low ongoing APR. While it would be great to get all these credit cards in one, you're likely to get the best offer from separate cards.
To be clear, we're not saying to run off apply for multiple cards all at once. But if you've found yourself traveling more and more and your credit card doesn't reward you for travel purchases, then it's definitely worth diversifying your wallet with a new credit card that meets these benefits.
Hey, times change, jobs change, and maybe that credit card that fit you perfectly a couple years ago isn't the best match for the "new" you. If that's the case, add a new card to your wallet that better fits your current purchases. That being said, keep the other credit card open (you really never want to close a credit card account) and enjoy the options that multiple credit cards can afford.
