Carrying just one credit card is common among Americans, but expanding to a second card can unlock numerous financial advantages. While a single credit card offers simplicity, a second card can enhance your financial strategy significantly. One of the most compelling reasons to add a second card is the opportunity to earn a sign-up bonus, which often requires meeting a spending threshold within a specific timeframe. Additionally, many credit cards offer 0% introductory APRs, allowing you to make significant purchases or transfer existing balances without accruing interest during the promotional period. Combining different cards can also maximize rewards; pairing a flat-rate card with one that offers bonus rewards in specific categories can help you earn more. Furthermore, having a second card can improve your credit score by lowering your credit utilization ratio. Lastly, a backup card provides security in case of emergencies, such as a declined transaction or a lost card. Overall, having two credit cards can enhance your financial flexibility and security.
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