‘How Many Credit Cards Can I Get?’ Ask This Instead.
It’s a question people often search for online: “how many credit cards can you get?” The simple answer is that there’s no official limit in the UK. But we believe this is the wrong question to be asking.
A better question is: “What is the right number of credit cards for my financial situation?” It’s a question that shifts the focus from accumulating more credit to responsible credit management. This guide explains the pros and cons of having multiple credit cards and offers a simpler path forward.
The Lure of Multiple Credit Cards
It’s easy to see why people end up with more than one card. Different cards offer different benefits and different perks. A rewards credit card might let you earn rewards or air miles on everyday spending, while a balance transfer credit card can offer a 0% interest free period to help you manage an outstanding balance from an existing credit card for a short period.
“We’re here to help you shift from collecting cards to taking real control of your finances. This blog shows you why managing multiple cards can feel overwhelming and how a single, clear repayment plan is your strongest move toward building financial freedom.”
Aseem Munshi
Updraft Founder & CEO
The Reality: How Multiple Credit Cards Affect Your Finances
While the rewards can be tempting, having several cards comes with significant challenges.
The Stress of Managing Multiple Repayments: The biggest issue is juggling multiple repayments. Keeping track of different monthly payments and due dates is stressful. It’s easy to make a mistake and get hit with a late fee, and you should do what you can to avoid late payment fees.
The Impact on Your Credit Score: Making multiple credit card applications in a short time can affect your credit score, often causing it to temporarily lower. Furthermore, lenders look closely at your credit utilisation ratio. If your outstanding balance is high compared to your total credit limit (or combined credit limit), this high credit utilisation rate can have a negative effect on your credit report.
The More Temptation, More Risk Factor: Having a large amount of available credit can create more temptation to overspend, especially when dealing with unexpected expenses. Other lenders may view this as more risk, which could impact future credit applications.
From Many Cards to One Clear Path
If you have too many credit cards and are struggling financially, the solution isn’t applying for a new credit card. It’s about creating a clear plan to pay off the ones you have.
This is where Updraft is different. We specialise in helping people who are tired of juggling multiple cards. Our Pay Off Loan is designed to consolidate your outstanding balance into one simple payment plan.
Here’s how it works:
Consolidate Your Balances: Get the extra funds you need to pay off your various high-interest rates credit cards.
One Simple Payment: You are left with one single loan. This means one manageable monthly payment, which simplifies your finances and helps build a positive credit history.
A Clear End Date: Unlike the revolving door of credit card debt, our loans have a fixed term, giving you a clear finish line.
Our mission is to help you clear your debt and move forward. We provide a supportive, modern way to get out of the juggling act.
So, instead of asking how many credit cards you should have, perhaps the better question is, “How can I clear the cards I already have?” For many, a simple consolidation loan is the most empowering first step.
Final Thought
Want to take control of your money? If you’re looking to consolidate credit card debt and cut down on high interest, download the Updraft app today.
Representative example
26.5% APR representative based on a loan amount of £10,000 over 60 months at a fixed interest rate of 21.9% p.a. This would give a monthly repayment cost of £286.65 per month, with a total cost of credit of £7,198.74 (includes loan fee of £400) and a total amount repayable of £17,198.74.
All figures are representative, the rate you are offered will depend on an assessment of credit worthiness and affordability. Terms and conditions apply.
Updraft Awards & Recognition
Recognised for helping UK borrowers take control of debt.
