Many people get bogged down with a lot of different credit cards and have a hard time keeping track of all of them. Often times, this leads to late payments resulting in interest and fees that increase the difficulty of repaying outstanding balances. To reduce the risk of late payment, having one credit card is often a good option. However, given the increased importance of credit cards to our lifestyles, how can one survive with just one credit card? What tips are useful for making the switch to one credit card?
If you are seeking to survive with just one credit card it is important to choose a card that is widely accepted at a variety of different retail locations. While some smaller credit cards have better rewards associated with these cards, having a more widely accepted credit card is a better option for those seeking to cut back on the number of their credit cards. Maintaining a significant amount of cash on hand and having a debit card will further reduce the need for maintaining additional credit cards at all times. Having a debit card from a different issuer than your credit card will provide a good back up plan if you credit card is not accepted at a retail location as well.