I Have One Major Credit Card Right Now. Should I Get Another One?

Written by |

Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.

What Are the Benefits of Getting a Second Credit Card?

Greg from Georgia asks: “I’m constantly receiving offers from credit card companies to apply and get their cards. I currently have one major credit card, and I’m in good standing with this company. Would it be beneficial for me to get another major credit card in order to boost my credit score, or would the extra card cause my score to drop? Can you explain how that works?”

Clark’s Take on Whether You Should Get a Second Major Credit Card

Clark says: “Definitely get that second credit card.”

“This is a Clark Noah’s Ark rule: You always want to have two major credit cards from two different issuing banks or credit unions.”

Clark adds that the reason it’s important to get two credit cards is to protect yourself in case your current card issuer drops you for some reason. If that happens, Clark says, “you suddenly have no available credit that is reflecting on your credit report.”

Team Clark likes the Citi Double Cash Card because the rewards are simple: You get 1% cash back when you make a purchase, and then unlock an additional 1% cash back when you pay your bill.

Want more cashback options when you swipe? Here are the best reward credit cards.

To hear Clark’s full take on this question, listen to the segment:

Do you have a question for Clark? Use this form to ask him! And remember that you can listen to the Clark Howard Podcast at any time here.

If you have a question but don’t want to go on-air, contact Clark’s Consumer Action Center for free money help.

More Resources From Clark.com:

How many credit cards should I have? How Many Credit Cards Should I Have? - Are you worried that the number of credit cards you have could have a negative impact on your financial life? Is there a “right” number of credit cards for one person to have in 2024? The answer is a little…
Welcome bonuses can be a great way to boost the value of a credit card. Best Credit Card Sign-up Bonuses for 2024 - Team Clark spent hours reviewing the market for credit card sign-up bonuses and evaluated them according to the guidelines for usage set by money expert Clark Howard. Clark believes credit cards with exorbitant annual fees are a bad idea for most…