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Using multiple credit cards: Solution or problem?


The endless variety of credit cards that adorn the interior of wallets and purses is not always profitable for the consumer, but it is for the bank and issuing company, and they get lucrative returns when withdrawing money at ATMs of other networks, through various committees by deferred payments and through the annual membership fee. These companies may be more than satisfied with Spanish users, since the average card for each family in our country is three debit and two credit. Most people also know that pay fees and expenses brings you possess such card number.

– Picture: Steve Woods –Spain is the second country with the highest number of cards in circulation in Europe.

According to the Association of Users of Banks and Insurance ( ADICAE ) Spain has 75 million cards in circulation (43.5 million 31.5 million debit and credit). Dismissing the population under 16 years, and considering that only 54% of the population between 60 and 70 years have card, each Spanish average adult has 1.32 debit and credit card. These data invite us to reflect on whether you really need all these cards. But you can live today without using cards? The answer is a resounding “no”, at least in the opinion of Antonio Castelo Ladra, administrator and financial advisory services. However, although not required without them, what should be done with the money “plastic” is to analyze the personal, real needs and the ultimate use will be given to each card.

A high cost

It is difficult to speak of a maximum or minimum recommended number of cards, as this can vary depending on consumption patterns and needs of each user, but in general terms the credit card is only recommended “for purchases or transactions which not support direct payment by debit “financial experts say, such acquisition or Internet ticket booking, car rental, hotel reservations or certain trips abroad (in this case, especially facing emergencies or unforeseen). The debit card, however, it is useful to pay her if you do not have cash on hand. The latter is also an objective of the European Commission, which is betting on facilitating the use of cards, for which it is being created called SEPA (Single Euro Payments Area in the EU), which will use the cards in any euro zone country with the same conditions and costs that is made ​​in Spain.

Having two debit and two credit costs on average about 100 euros a year

Against the background that is drawn, it will be hard not to have a card, but the important thing, and what they claim many associations, is that the rules are fair and clear about costs and commissions. And it is not about spending less, as many cards to hold annual spending increases significantly. On average, possess simply entails a cost of 15 euros per year for debit cards and 30 per year (also average) for each credit card. That is, you pay almost 100 euros per year by having two debit and two credit. Therefore, not seem profitable to multiply the number of cards that are available.

But not all agree on this issue, some experts consider it appropriate to have a wide range of cards to take advantage of benefits offered, but making good use of them and knowing what should be used at all times. So says Daniel Soto, representative of vLex who considers successful that many people have multiple cards: a main card, with which they perform most daily expenses, a second, emergency, and a third for the rewards offered on certain types of products such as gasoline.

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