What’s the best second credit card you can get?


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If you are wondering how many credit cards you should have in your wallet, you are asking the wrong question. Instead, you need to make sure you have the right combination of credit cards.

Maybe you want to take your credit card rewards to the next level, get a great welcome bonus offer, or pay off high interest debt over a long introductory period at 0% APR. As long as your credit rating is good and you practice responsible card habits like paying off your balance in full and on time, a second credit card can help you close the gaps and reach your financial goals.

Whether you’re looking for a particular benefit that your current card doesn’t offer or want to increase the value of your spending with diversified rewards, here are five reasons to consider adding a second credit card to your wallet, and some details. important to look for:

1. Your credit score has improved

If your first credit card was meant to help you create credit, it probably didn’t come with many additional perks or rewards. Once you’ve achieved your goal of improving your credit score and adopted the right habits to keep yourself from taking on high-interest debt, it may be a good idea to start maximizing your spending with new card options. that you may be eligible for. Look for credit cards with bigger ongoing rewards, higher credit limits, and better terms and conditions.

Applying for a second credit card temporarily affects your credit score, but it can actually help you build your credit over time, especially if you also keep your old card account open. This is because your overall credit limit will increase and your credit utilization rate – the second most influential component of your credit score – will decrease. Just be sure to keep your ratio well below 30% if you want to maintain a great credit rating.

2. Your spending habits have changed

A change in spending habits is a common reason to get a second credit card, especially amid the COVID-19 pandemic. Many credit card issuers have even evolved their offerings to better adapt to the changing financial situation of cardholders.

For example, after travel restrictions prevented many people from taking full advantage of their travel rewards credit cards with high annual fees, issuers added benefits more aligned with a shift to regular, daily spending. Mainstream issuers – including Citi, Chase, American Express, and Capital One – have increased rewards for meals and groceries, partnered with brands like Uber Eats and Peloton, and offered more unrelated benefits. travel at the start of the pandemic, many of which are still ongoing.

If you’ve had a credit card for a long time, there’s a good chance your spending habits have changed. Take the time to make sure your credit card rewards still match your spending and lifestyle, or consider adding another card to your wallet that better matches your current situation.

3. Better rewards and benefits

Two credit cards can earn you more rewards and benefits than one.

Often the best way to pair cards is to choose a card that earns fixed points or cash back on all purchases and one or two other cards that earn bonuses in a spending category that makes up a large portion of your money. budget. If you need some inspiration, consider some of our favorite card combinations, like combining a travel card and a cash back card.

A good example of this is the Chase Trifecta. With this strategy, you can combine three Chase credit cards to increase your rewards potential through the Chase Ultimate Rewards portal. Let’s say you already have a Chase Freedom Unlimited® card and get a minimum of 1.5% cashback on every purchase, along with bonus categories. You can pair it with a Chase Sapphire Preferred® card to increase your Chase Ultimate Rewards redemptions by 25% on both cards. Plus, you’ll expand your reward categories and be able to qualify for the 60,000 Preferred Points bonus after spending $ 4,000 in the first three months.

  • Introductory bonus:
  • Annual subscription :

    $ 0

  • Regular APR:

    14.99% – 24.74% Variable

  • Recommended credit:

    670-850 (good to excellent)

  • Apply now external link icon On the secure Chase site
  • Introductory bonus:
  • Annual subscription :

    $ 95

  • Regular APR:

    15.99% – 22.99% Variable

  • Recommended credit:

    670-850 (good to excellent)

  • Apply now external link icon On the secure Chase site
  • Introductory bonus:

    N / A

  • Annual subscription :

    $ 0

  • Regular APR:

    13.99% – 23.99% (Variable)

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon On our partner’s secure site

4. Pay off credit card debt

Another common reason to open a second credit card is to pay down debt. If you have a high credit card balance, you can save interest and speed up debt repayment with a balance transfer card.

Credit cards designed for balance transfers often offer a 0% interest period that ranges from 12 to 18 months on the transferred debt. Balance transfers come with a fee, typically between 2% and 5% of the amount transferred, depending on the card. Even with the fees, these cards can help you pay off your principal debt more quickly without worrying about interest.

Just make sure you have a plan to pay off your balance in full during the introductory period. If you don’t, you’ll start earning interest on the new card’s current APR and could end up in a cycle of debt again.

Our top choice for balance transfers is the US Bank Visa® Platinum Card *, as it offers the industry’s longest 0% interest introductory period, with 20 billing cycles (after which there is an APR variable from 14.49% to 24.49%). The card doesn’t offer ongoing rewards, but its 0% interest introductory period is hard to beat for anyone looking to eliminate credit card debt.

5. Finance a major purchase

Opening a second card with an introductory 0% interest on purchases offer can help you fund a major purchase, like a new appliance or car repair, without earning interest. You can usually find cards with 0% interest periods on purchases lasting 12, 15, or 18 months.

Once the introductory period is over, you’ll start earning interest on any current balance, so make sure you have a solid plan to pay it off up front. By making payments within the 0% interest period, you are essentially using the card as an interest-free loan to fund larger purchases. Many of these cards also offer rewards and benefits that you can enjoy after paying off your original purchase balance. NextAdvisor’s top picks for introductory offers at 0% interest on new purchases include the US Bank Visa® Platinum card, Citi Simplicity® * card, and Chase Freedom Unlimited®, among others.

Final result

There are many reasons to open a second credit card, but before you apply, make sure you are prepared to take on the extra responsibility. You’ll need to be financially disciplined to manage multiple cards, pay your bills on time and in full, and spend only what you can afford.

If you trust yourself to do it, you are probably ready for that second credit card. To get started, check out our favorite credit cards on the market.

* All information on the Citi Simplicity Card, Citi® Double Cash Card, and US Bank Visa® Platinum Card has been independently collected by NextAdvisor and has not been reviewed by the issuer.


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