Dear Chuck,
My spouse thinks we need another credit card. We’ve been getting by just fine with one. Who do you agree with?
Divided Over Credit Cards
Dear Divided Over Credit Cards,
It is not wise to step into the middle of a dispute without hearing both sides. So my first reaction is to recommend that you find an agreement with your spouse apart from a third-party arbitrator like me. Since I have recently been through a similar discussion with my wife, Ann, it will be easy to share our journey that may help the two of you get united.
One card or many cards?
It has been my position and practice for years to have only one credit card. There are lots of benefits to this practice: racking up bonus miles, less vulnerability to running up debt, and easier to track one account, to name just a few.
Someone recently stole our credit card number. We received an alert and initially thought it was a scam. Upon returning home, we checked our online account. Sure enough, someone was having fun shopping at Nordstrom’s in a completely different part of the country.
My position on having just one card has officially changed! If you are a responsible spender, pay your bill in full each month, or maintain a very low balance, you should consider a second credit card — not many credit cards, just two! The average…
