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Apply for a second credit card – when is it useful?

Many people who have a Visa or Mastercard wonder whether it makes sense to apply for a second credit card. This question cannot always be answered with a clear yes or no. Nevertheless, the purchase of a second credit card can be worthwhile in many cases.

In the following we show you some case studies where it makes sense to apply for a second credit card:

Example: travel

Example: travel

Many credit card companies charge high fees for use abroad. This applies to participation in cashless payments and even more so for cash withdrawals from ATMs. For this reason, it can be worthwhile to compare the conditions for using your own credit card with the conditions of other offers. You often come to the conclusion that using other credit cards abroad is significantly cheaper than using your own card.

It is worth applying for a second credit card here. In this context, it would make sense to choose a credit card that is not only characterized by low fees abroad, but also includes travel insurance.

Example: bonus programs

Example: bonus programs

It is not uncommon for certain credit card providers to offer a bonus program for people who shop regularly in a certain shop or who regularly use certain services.

If your own credit card does not offer such a bonus program, it can make sense to apply for a second credit card, which is the case.

In any case, interested parties should inform themselves well and only then make their decision. Participation in a bonus program can often save a lot of money. Alternatively, certain discounts or prizes are also offered to people who were able to collect a particularly large number of points as part of a bonus program.

Example: cheaper fees

Example: cheaper fees

The fees for using a credit card vary. Card usage is often offered free of charge or only small fees are charged. In addition, it is not uncommon for the credit card to be free of charge only in the first or second year of use, and only then do fees become due.

If the current credit card is too expensive, it can always be worthwhile to think about an inexpensive alternative or at least to apply for a second credit card, where the fees are significantly lower . This second credit card can then be used more frequently to save money.

Example: better acceptance

Example: better acceptance

Both Visa and Mastercard are accepted very often, but not everywhere. If you want to improve more uses, you can request a second credit card from another provider. For example, you can get a Visa card in addition to a Mastercard or a Mastercard in addition to a VISA card.

What about personal creditworthiness?

What about personal creditworthiness?

Anyone who applies for a second credit card does not have to expect that this will negatively affect their personal creditworthiness. A deterioration in creditworthiness is only to be feared if the payment obligations that arise in connection with the use of a credit card are not or not completely fulfilled.

What are the costs for a second credit card?

What are the costs for a second credit card?

Many credit cards are free and can be applied for online. However, there are big differences in fees if the card is used abroad, for cash withdrawals or for other services. It is important to make a thorough comparison beforehand so that there are no unpleasant surprises later.

If you want to save costs and fees, you do not have to deregister your first credit card and apply for another one, but can apply for the new card in parallel with the first one. The second credit card can then be used more often than the first if it is cheaper.

The fees for the individual services also differed. For example, the second credit card may incur low fees for cash withdrawals abroad and the first credit card may incur lower fees for using other services. Here it makes sense to look from case to case which credit card is cheaper and then use it accordingly.

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