Raise your hand if you’ve ever stared at your BPI Blue Classic or EastWest Classic card and wondered: “Can I handle another one? Or will I end up drowning in due dates that can cause stress and anxiety on my end?
Let’s have some real talk. There’s no one-size-fits-all number—if you can manage two or three credit cards and keep track of your credit limits without drowning in bad debt, good for you. However, one credit card is also enough for someone just starting to build their credit history.
Case in point: before you apply for that Metrobank Travel Platinum just for lounge access, step back and ask yourself these questions:
- What should I consider before applying for another credit card?
- What is the recommended number of credit cards?
- How to manage multiple credit cards responsibly
What should I consider before applying for another credit card?
Before you start collecting credit cards like Starbucks limited-edition tumblers, ask yourself these three questions:
1. Financial stability: Can my income handle the hustle?
Your monthly payments shouldn’t eat up more than 30% of your take-home pay. For example, if you earn ₱50,000/month, keep total credit card balances below ₱15,000.
Remember, a good credit score starts with proving you’re not drowning in amounts owed. While having more credit can enhance your purchasing power, it can also complicate financial management if not handled properly.
2. Purpose: What’s my “Why” for having multiple cards?
Not all cards are created equal. Most credit cardholders often use:
- One credit card for everyday spending (e.g., Citi Simplicity+ for low fees).
- A second for certain purchases (e.g., HSBC Gold Visa for 5% cashback on dining).
- A third as a backup or for balance transfers (e.g., RCBC Bankard’s 0% interest promos).
A fair warning, though. Applying for a new credit card just for rewards points? Make sure you calculate if annual fees (e.g., ₱2,500/year for a UnionBank Rewards card) outweigh the perks.
Understanding how multiple credit cards affect your credit score is crucial, as it can either boost or lower your score depending on your usage.
3. Tracking skills: Can I outsmart due dates and pay before or on the dot?
Juggling multiple credit accounts requires ninja-level tracking. Here’s what you need to think about before applying for another credit card.
- Miss one payment in just three days? That’s a ₱1,500 late fee that you could have deposited in your high-earning savings account.
- Use budget apps to sync due dates and avoid missed payments.
So, if you’ve ever forgotten to pay a utility bill on time, stick to one credit card until you’ve mastered good tracking skills on a spreadsheet or a budget app.
What is the recommended number of credit cards?
According to Banko Sentral ng Pilipinas, Filipino cardholders own an average of 2.3 credit cards —a sweet spot for balancing flexibility and control. While there’s no definitive rule, one credit card is usually enough for beginners. Having multiple credit cards can lead to missed payments and negatively impact your credit score if not managed well.
Here’s why this average works and how to leverage it for maximum rewards and best interest rates:
1. Higher credit limit means more financial oxygen
Combining limits from different card issuers (e.g., BPI + Security Bank + UnionBank) can boost your total credit limit by two to three times. For example:
- Card 1: ₱50,000 limit (groceries, bills)
- Card 2: ₱70,000 limit (travel, dining)
- Card 3: ₱30,000 limit (emergencies)
- Total: ₱150,000 purchasing power vs. ₱50,000 with a single credit card.
But even if you have a big spending limit, it’s wise to stick with low credit card utilization so banks and lenders can tell you’re not heavily reliant on credit cards.
2. Credit utilization rate is the silent score booster
Credit specialists swear by keeping this ratio under 30%:
Example: ₱50,000 total debt ÷ ₱200,000 combined limit = 25% utilization → good credit score.
Compare that to ₱50,000 debt on one ₱50,000-limit card → 100% utilization → sends a red flag to credit bureaus.
So, if you have two credit cards, you can use one card for everyday spending (e.g., Citi Simplicity+) and another for other purchases (e.g., HSBC Red for shopping cashback).
3. Take advantage of the rewards and perks while spending
Why settle for one card’s rewards when you can mix and match?
- Low intro APR. Some banks like BPI and HSBC provide limited 0% balance transfer periods (e.g., 2–6 months)
- Personalized offers. EastWest JCB Platinum cardholders enjoy exclusive access to the Universal Studios Japan JCB Lounge until March 31, 2025.
- Niche perks. Cebu Pacific Platinum cardholders receive priority boarding (Group #2) and an extra 4kg baggage allowance.
Rotate cards based on promos (e.g., “10% off Lazada with HSBC every 15th”)—just set calendar alerts for due dates.
Ultimately, there’s no definitive ideal number of credit cards to have. However, if your gross annual income exceeds ₱2 million, managing multiple credit cards is a matter of personal discretion.
How to manage multiple credit cards responsibly
Say you decided to get about three to four multiple credit cards because you’re able to pay dues on time. Make sure you’re ticking off the items in the checklist below to maintain good credit history.
- Track your balances and due dates. Keep a close eye on your credit card balances and due dates to avoid late payment fees and penalties. Be diligent in using budget apps to sync due dates and stay on top of payments.
- Set up automatic payments. Automate your payments to ensure they are made on time, helping you avoid late fees and maintain a good credit score.
- Monitor your credit utilization rate. Aim to keep your credit utilization rate below 30% to maintain a healthy credit score. This means if your total credit limit is ₱100,000, try to keep your outstanding balances below ₱30,000.
- Regularly review your credit report. Check your credit report periodically to ensure all information is accurate and up-to-date. This can help you spot any errors or signs of identity theft early. You can get yours via the CIBI web app (online) or in-person at the Makati office.
- Avoid overspending. Stick to a budget and avoid charging more than you can afford to pay off each month. This helps prevent accumulating credit card debt.
- Leverage rewards and benefits. Take full advantage of your credit card rewards and benefits, such as cashback, travel points, or purchase protection. Just make sure the perks outweigh any annual fees.
By following these tips, you can enjoy the benefits of multiple credit cards while maintaining a healthy credit score and avoiding the pitfalls of credit card debt.
People Also Ask About Having Multiple Credit Cards
How can I build my credit history with one credit card?
If you’re new to credit, begin with a single credit card (like a secured card or BPI Blue Mastercard) to establish a payment history without overwhelming your financial situation. For example, using one credit card for everyday spending (₱10,000/month) while keeping credit utilization below 30% builds a good credit score in 6-12 months.
How do multiple cards affect credit scores?
In the Philippines, multiple credit cards can positively or negatively impact credit scores depending on your usage and management. For example, spreading expenses across multiple cards keeps individual card utilization below 30%, which can also boost credit scores. Multiple cards can enhance scores if managed responsibly (low utilization, on-time payments). But excessive applications or poor payment discipline pose significant risks. Regularly reviewing your credit reports can help you manage multiple cards more effectively and avoid potential red flags towards your accounts.
Is one card enough?
Yes! A single credit card works if you use it for everyday spending and certain purchases (e.g., Cebu Pacific GetGo for flights). If you master paying on time and tracking your expenses on the dot, you can consider applying for one more if you think you’re able to do those consistently. At the end of the day, prioritize financial stability over more rewards, especially if you’re just starting to build your credit history.
Final thoughts
The ideal number depends on financial stability, tracking skills, and credit goals.
While having multiple credit cards can boost your credit score by keeping utilization under 30% (e.g., ₱30,000 debt across ₱100,000 total limit), too many credit cards risk missed payments and debt spirals.
Start with one, master timely payments, then add strategically if your income and discipline align—just like I did over a decade ago. Once you master the discipline of paying on time and ensuring you’re on top of the monthly dues and expenses, you can always apply for another card when you’re ready.
Having a high credit limit with multiple cards means higher spending power. But with great power comes great responsibility, so swipe mindfully!