Why Having Just One Credit Card Might Be the Best Decision You Make!

Credit card

In a world abundant with financial possibilities, the concept of having numerous credit cards may appear attractive. Nevertheless, amidst this assortment of options, lies the sagacity of simplicity. Embracing the idea that having less can yield more, the choice to possess just a single credit card could prove to be remarkably judicious.  

According to recent statistics, there has been a remarkable 40% increase in credit card applications through the credit card app. With such a vast array of credit card options available in the market, the question arises: Is it wise to have only one credit card? Let’s explore the benefits and drawbacks of sticking to a single credit card.

Single Credit Card vs. Multiple Credit Cards Dilemma

Imagine You have a credit card you’ve been using for a while. It has a decent credit limit, and you can pay your bills on time. Life seems good, and you wonder if you need another credit card. After all, why not stick with just one? Following are some pros and cons of having only one credit card.

Pros of Having Only One Credit Card

1. Simplicity: Managing just one credit card is simpler than juggling multiple cards. You have fewer bills, one credit limit to keep in mind, and one account to monitor.

2. Less Temptation: With only one credit card, you’re less likely to overspend or get caught up in a debt cycle. It’s easier to control your expenses and keep track of your financial health.

3. Easier to Build Credit: If you’re new to credit cards or building your credit history, having one card can be beneficial. Timely payments and responsible credit usage can help improve your credit score steadily.

Cons of Having Only One Credit Card

1. Limited Benefits: Different credit cards come with varying benefits, such as reward points and discounts. You might miss exclusive deals tailored to specific spending categories with only one card.

2. Emergency Backup: What if your only credit card gets lost, stolen, or compromised? A backup card can be a lifesaver during emergencies and ensure you’re not left stranded without access to funds.

3. Credit Utilisation Ratio: Your credit utilisation ratio is crucial in determining your credit score. With just one card and a significant portion of the credit limit utilised, your score might be negatively impacted.


Deciding whether to have one credit card or multiple cards boils down to your financial habits, lifestyle, and preferences. If simplicity and ease of management are your priorities, one credit card might be your best bet. However, having multiple cards could be advantageous if you love maximising rewards and maintaining a backup option.

Credit card companies like OneCard are worth considering if you desire a credit card combining the best of both worlds. The Best FD Credit Card, thoughtfully crafted with metal, combines elegance, rewards, and a seamless digital experience through the Credit Card Online App. Embrace the power of financial freedom and reward yourself with the OneCard today!

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