Multiple Credit Cards - Advantages and Disadvantages - EXPLAINED!| Ankur Warikoo Hindi

[@warikoo]

Get my new book ‘GET EPIC SHIT DONE’ here: ankurwarikoo.com/getepicshitdone Order my first book ‘Do Epic Shit’: ankurwarikoo.com/doepicshit My Money Apps Zerodha (for investing in Indian stocks): bit.ly/3iYKROh INDMoney (for US Stock investing): bit.ly/37M1rik (use my code AWG to get free google stock) Smallcase All Weather Investing: bit.ly/3u0is0I Smallcase Capitalmind Momentum: bit.ly/3j0oBnn Smallcase Weekend Investing: bit.ly/3KEYCxW WazirX (for Crypto): bit.ly/3O4KC2F Wint (for corporate bonds): bit.ly/3sbUI8c Get insurance advice from Ditto: bit.ly/3xFh7OU My gear for shooting this video: 🎥 Sony a7III camera: bit.ly/3M42wAV 🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0 🎙 Shure SM7B Microphone: bit.ly/3O1NAVA 🔆 Fill Light 60W: bit.ly/37aJolP 💡 Key Light 150W: bit.ly/3O9nyjs 📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1 Useful links: 20 books for your 20s: bit.ly/WarikooBooks 20 online courses for your 20s: bit.ly/WarikooOnlineCourses Gadgets that I use: bit.ly/WarikooGadgets

[@NikhilChhatrapatiPatil]

What to do if my actual credit limit is 3.9 lakh but on the CIBIL site it is showing 1.65 lakh. Due to which my credit card utilisation is always showing above the 40%

[@DisasterRude]

Sir what is your credit score?

[@NikhilChhatrapatiPatil]

@Warikoo ㊉①④⑦⑨④④⓪⑥⑦⑧⑤ stop fool people. You are not real warikoo

[@matkachowk]

Sir, Can you please share some content on silver buying guide and its effects?? Just like the one you did for gold buying guide digitally??

[@souvikmondal623]

Ankur bhaiya, i have a question .... i am student age 23, i have total 8 credit card now. My yearly income less than 1 lakh .... but my yearly credit utilisation is 11 lakh. but i pay total amount the due. for earn the cash back i used the credit card for purchasing many thing as well as friends things also. my question is, is there any taxes for utilisation for credit card????? i am worry just bcecz my income 1 lakh but i spend 11 lakh . Reply zarooor dena bhaiya

[@Yuyuyufucgicic]

I'm 22 now and a working professional and have been using credit card for past 2 years and it has changed my life. The best thing credit card taught me is how to manage money and that will last with me forever.

[@siddhardha_meduri]

I've been using SBI CASHBACK CREDIT CARD. Please suggest credit card you use

[@reonsylvester719]

Same here. I use ICICI Bank Amazon pay card. And It's been useful to me. Lots of benifits Id used wisely.

[@preetomdas3886]

Abhishek ji..please tell which card are you using??

[@amanac7305]

​@@preetomdas388618 ke age me fd based credit card hi milta hai then use use karne ke baad cibil score banne ke baad bank khud offer karti hai unsecured credit card ya ap khud se apply kar sakte hai 🔥

[@chinmaykale2717]

Kaise Mila aapko sir cashback credit card​@@siddhardha_meduri

[@RajKumar-og7qe]

I am using 9 Credit Cards from different banks , paying all bills on time and enjoying credit limit and rewards

[@manvendrasingh1834]

any effect on cibil score

[@madhubabuakkishetty6257]

⁠@@manvendrasingh1834no it won’t affect on your cibil score

[@digitaldeepak21]

I have 5 credit cards and planning it cut it down to 2. Easy credit is a trap.

[@ashishojha7474]

I've 18 credit cards under my name over past 7 years. Never missed a payment , never paid minimum due , but still I think I've collected too much. I'm keeping them stacked in my locker as most of them are life time free. Only 2-3 cards are on regular usage.

[@asifahmed6568]

Aren't there any charges applied on those which you aren't using

[@viperyogesh7634]

​@@asifahmed6568thats life time free bro no charges

[@Shaikh-rf1ed]

Please recommend some lifetime free credit cards

[@hemantabcde]

Great video! These are such basic concepts regarding credit cards, but most people are oblivious about them. I have 17 credit cards and have managed to use them efficiently for almost a decade now. Discipline is imperative.

[@gamingwithjonty]

Bro 17???

[@madamsahab9808]

@@gamingwithjontylol

[@Shaikh-rf1ed]

Please recommend some lifetime free credit cards

[@archanababu5682]

​@@Shaikh-rf1ed one card is good more offers and federal Bank also

[@lifelovedeath]

I love how you start the video with the juicy bits right away now! No intros/prologues

[@ravindersinghrathore1290]

You are awesome sir.. the way you explain things is just next level.. ❤ I'm 24 working in HDFC Bank.. I'm very sorted and smart enough to understand how much i have to spend and manage expenses.. and I like to have credit cards so thats why I'm having almost every bank credit card which is in the market 😅 i have almost 13 credit cards of different banks and now using all of them to make money from money 💸

[@mohammedabrar183]

Can you suggest some of the best credit cards, you are using. Also name which credit cards you are using. 13 credit cards.

[@recklesspotato212]

​@@mohammedabrar183if you have no idea about how credit and interest works do not fall for this trap, it is only for the highly knowledgeable person who works in banking industry or at least have some sort of knowledge about these stuff

[@ericb9815]

How long should one wait before applying for a 2nd credit card?

[@akashpandey1488]

I have 4 credit cards & maintaining cibil score also ✨✨✨✨

[@rohitchoudhari9648]

I got 10% instant discount when I bought a fridge along with 50% interest as cashback from merchant. EMI i selected was 3months to avoid every month additional hidden charges. If I paid full, I would have got just 2% back or in cash, no discount at all. Credit cards have huge power of discounting your purchases and it is awesome product to have with you.

[@swadhenshetty7942]

Hello Ankur, thanks for the video. However, if we have multiple cards, we don't have to split among different cards to lower the Credit utilization ratio IE: if we have 2 different cards with a limit of 1L each, and if we end up spending 90K on one card, the credit utilization ratio will be 45% regardless if we split the spending. (Based on my credit report, please correct me if I am wrong) That being said there are other reasons to split spending on different cards as you have mentioned in the video :)

[@curiousindian2712]

One important disadvantage you missed- The Annual Fee. Most good rewards based cards have an annual fee and it is waived off only after spends of a certain amount. If you have too many cards, you may not be able to reach that spends mark and would end up having to pay the Annual Fee.

[@84dhanreddy]

It’s not that difficult. Just pay your bills with the card and pay back the full amount.

[@curiousindian2712]

@@84dhanreddy lol. U may be talking about convenience here but I am referring to the added expense.

[@videoanalyst4u]

Yep. Credit not utilized to breakeven the annual fee is still a hidden cost of credit card

[@shivaniad]

Anybody with common sense knows that 90 % of credit cards come with an annual fee 🤷🏻‍♀️

[@budbakkjee]

I had more than 7 cards at a time. While giving cards the companies say lifetime free, but after a few years they’d bind yearly maintenance fee. I kept closing those cards. Now I have 5 CCs without any yearly liability, combined spend limit over 18 laks and 6 quarterly loung accesses 😂 The key is timely payment and keeping low spend percentage. Apparently, premium companies would offer you their card one day.

[@GunyBhai]

One of the problem with Multiple Credit Cards is utilising the minimum annual spend to wave off the annual fees. How to solve this issue?

[@shubhamagnihotri2833]

How many Cards do u have🤔

[@ameykulkarni8946]

There's no solution for this. Only fix is get a lifetime free credit cards which banks offer by themselves. We cannot apply for it. They offer it to very selective customers based on account history, transactions, and many other factors.

[@abhishekdhattarwal]

I am so blessed that my father know all these informations, and he taught me all this at my age of 18 and I started managing my fianance and credit by my own. Thanks Dad.

[@philipabel6239]

Thanks for your comment ❤️, DM me on whatsapp for direct guidance.

[@F16Raashah]

Lucky you

[@sanjaybanik7522]

Presently having 10 credit cards and using them frequently and efficiency. Cred is helping a lot to manage them. Thank you for your knowledge

[@AvikBara]

I am going through a debt atm, it will take me 2 years to get out but this was a lesson taught to me by the banks and their credit cards. The harassment was something else, calling me fraud because I missed payment on some of the credit lines while making payments to more important one btw to the same bank. I will remember all that has happened for the rest of my life. One of the positives I can t think of is the timing, I can pay this off later in life it would have been hard being single I can save alot. Bad thing is now that I don't have excess funds opportunities are popping up, I was offered pand for cheap but had to decline.

[@ravipro]

IDFC offering credit cards with annualised interest as low as 9% based on individual profile. Not sure if all companies do such a low rate

[@RoarHit]

10:45 As a suggestion I would like give a solution to this problem as you can easily save all your credit card details in gpay or phone pe or samsung pay and pay all your bills at any merchants through NFC by your wifi enabled cc... Hence evading the burden of carrying your credit card... even today NFC being a decade old technology is very much underrated and still unknown to majority of users. A very convenient and secure method of cc payment. once you get into habit you'll never ever carry your cards again...Believe me

[@ashishsharma214]

Thank you for this Video. Loved it. It was like, a father figure is giving me advice on handling money. Thank you once again 😊

[@indrajitdeb2846]

Sir, if someday you open a commerce school I'll definitely take admission coz I am just 19.

[@URGUIDE]

Got to your video randomly in recommendation I must say I really like the way you explain and give examples And your aura is very good and keeps people connected 🙂 And, great video cleared a lot of doubts Thank you 👍🏻

[@parthchoudhary8897]

How to understand which credit cards will be good for yourself?

[@arpitkansal3785]

I have 2 questions and I would appreciate if someone or Ankur can answer them: 1. If I have multiple credit cards, is my credit utilisation seen per credit card or total expenses/total limit? 2. Banks allow to keep the limit lower than prescribed. Does it affect the credit utilisation or not? I keep 20% of maximum allowed limit and this time I have utilised 90% of this limit. Will it be 18% credit utilisation or 90% utilisation?

[@myytexp7493]

just my thoughts... 1. For the first one - contratary to what Ankur mentioned I think total limit is what it's based on across all credit cards. That's how I have understood it from long time. I may be wrong and may align to what Ankur is claiming (To be checked!) 2. I think it will be 18% as that's what you have prescribed to - Here you have the control to change it on the spend manager tool of the bank

[@gautamchauhan5925]

I want to answer both of your questions but I didn't understand what you are asking in 2 1. If you have multiple cards your utilisation seen per card as discussed in video. If you have multiple cards then don't use more than 80-90% of limit but if you use more than that you CIBIL will be affected for 2/3 months only.

[@glassofwine]

18%

[@cr787rock]

Nice observation... Few of following. Few needed to be. Thank you and team.

[@happyagarwal7479]

Sir I appreciate ki Aaj aapne Mr. Whosetheboss ki tarah straight to the point video shuru kiya har baar ki tarah backstory ka rona dhona nahi kiya

[@ranjithrkp8114]

Explained in crystal clear. Using credit card effectively and efficiently is not a rocket science

[@overthinkersdd]

pls make a video for freshers who are joining their first job and will get first salary, how to invest, insurance and credit cards pls guide

[@ankansharma4897]

1. Never spent more than your Bank balance. 2. Payback within 3 days(if possible within same day) completely(no minimum amount BS).

[@chaitanyapenjuri1854]

Another disadvantage of having multiple credit cards is we have to pay annual fees for some premium credit cards, so it's better to accumulate some zero annual fees credit cards like amazon icici card , etc and then go for other credit cards.

[@rohitpatil6646]

How does credit score get impacted by getting new multiple credit cards?

[@Sufi26]

How do you make transactions to fd or any mutual fund as you mentioned from your credit card? As per my knowledge, we can make purchases from our accounts only using debit, UPI or internet banking. And if you transact money to your saving account from your credit card then you have to pay a certain amount of money as transaction charges.

[@rjj6206]

Thanks for the video sir... But i have 2 questions 1. What should be an entry level credit card 2. Which is better... A cashback card or point card Please help

[@adityabhadauria4892]

hdfc money back credit card

[@Vinay8484Studio]

I m having 3 credit card with cibil score 899/900 . SBI click is good for online shopping. Amazon pay IS also good.

[@dattatreykulkarni6472]

Hi Ankur, Please make a video on having multiple bank accounts ie advantages and disadvantages.

[@prabhatkrishna1635]

Bank accounts do not impact cibil score, so keeping 1 bank account is enough!!! Also, all bank accounts have more or leas same interest rate .

[@pravirbarwa8341]

The best way to keep multiple credit cards is to keep them in auto debit format, that way your payments are disciplined!

[@elevatedesigner]

True buddy

[@chandanmidha2946]

I am student no income proof still having axis 4.5 lakh limit , hdfc 50k 🙂

[@AkashAnil-p4w]

How bro?

[@Shaikh-rf1ed]

How

[@sangwanislive3146]

Sir I used cc,amazon pay later,Paytm postpaid and Flipkart pay later

[@siddhartharoy2617]

Why u advertising re startup camp. Pls don't miss guide youth

[@iconicrevengers107]

I love the way you explain , I have seen your many videos after listening you I have opened account in zeroda also ,1 year ago.

[@mayuraglawe4600]

multiple credit cards means you have huge credit power .if you use wisely, there will be no month end finance pressure on you

[@matkachowk]

Sir, Can you please share some content on silver buying guide and its effects?? Just like the one you did for gold buying guide digitally??

[@gourobnandi1034]

I will suggest to buy gold when rbi releases the gold bond.

[@ravikumar246810]

Exactly how i am using. Thanks🙏

[@girishpotti2242]

Why we should not invest money in Co-operative society bank which Are covered under DIGC ? how safe HDFC is, the same way DIGC approved co-operative society banks are also, but upto 5L. Possible to cover a video on it for your viewers?

[@mdasif5815]

I loved you video. Thank you for making this video and your point are absolutely correct l.

[@gunjankumardas7178]

My credit score is 750+. Can you please tell me by around how much can my credit score reduce if I apply for 5-6 new credit cards within a month??

[@Cricket247N]

50 to 80 negative

[@parab.nagesh4737]

Even I'm using multiple credit cards and managing via cred also...🙂

[@sheerazkb]

I put only one card means jiska bill abhi latest tha.। Hope aap samajh gaye honge. One card two/three days only. Except some offer case.

[@chinmaydeshmukh8148]

Another big mistake people make is to withdraw cash using credit cards ..which is a hazardous thing to do actually..

[@PremSingh-wn8de]

Please make a video INCOME TAX on credit card expenses

[@AgrajK]

There is no incorporation of Credit Card expenses in Income Tax.

[@PremSingh-wn8de]

some people got noticed income tax department to expence above.10 lakh on credit card

[@sachinkumarnayi]

@@PremSingh-wn8de yes bhai 10 lac ke upar ke transection hum 1 year me karenge to bank ye detail it ko de deti he ...

[@deeparora7590]

आपका समझाने का तरीका बहुत अच्छा लगा मुझे सर् राम राम जी 😊😊

[@niteshahuja17]

Amex card customer care is on next level....which I feel like royal customer. On the other hand less offer, points etc

[@nashaik7765]

Jabardast Ankur ji. THank you very much.

[@theconfidantguy]

Plz make a video on new ind money app....How can we invest in US stocks now & what about the investment that we already have ?

[@uttamparmar6660]

Really a good explanation sir really loves the topic you covered it helps alot

[@Youpremium-p5c]

I have 12 nos..... Always profitable, total credit limit above 10 lakhs

[@PradeepKumar-ti6jv]

Sir please ek video how to delete enquiries????

[@gulyshow9598]

प्रिय अंकुर जी, नमस्कार! आपकी दी हुई एक - एक फाइनेंशियल सलाह, जितनी भी आपकी तारीफ की जाए, मैं समझता हूं कम होगी! आपके हरेक शब्द मेरे लिए अनमोल रत्न के बराबर है, काफी सरल और उपयोगी सलाह देते है ,जो किसी भी आम लोग को भी आसानी से समझ आ जाती है, अपेक्षा करता हूं आगे भी हैं ऐसे ही हमारा पैसे के मामलों में पथ प्रदर्शित करते रहेंगे। धन्यवाद!

[@RaptorGaming99]

Cred's rent payment charges are average but rent charge also deduct from credit card and cred app, got dual charges

[@rkp8495]

I have 10 credit cards and I manage it efficiently, we should have atleast 5 credit cards.

[@sameersingh4477]

I don't have job. But i managed to get 5 different credit cards from different banks.

[@harshbagade8297]

Mujhe ek question hai sir kya aap apki credit limit bata sakte hain mujhe janana hai ki youtuber ko kitni limit milti hai

[@flyingbisht]

Cred is very beneficial for all of us. Good information sir 👍💥

[@ShoaibAnsari-qu6ff]

I'm 25 and i have 8 credit card all LTF excluding Sbi

[@cutebabyshivaarth]

Actually I was waiting for such video from your channel

[@Souvikblogs]

Moral of the story : focus on in hand income, there is millions way to expenditure.

[@ABI-fn8vq]

Thank you sir for sharing the valuable information about credit card

[@amitbrotiaji2896]

Ankur bhaiya ji .... awsome explanations with proper examples...the way you explain is next level...big fan of urs...keep it up bhaiya ji❤

[@tanishqvaibhav66]

What career path should I choose as a 2nd year BBA student struggling with direction and lack of sleep? I don't know what I am doing.😮‍💨

[@Gen1Manoranjan]

Thanks for making this video.... Very informative

[@rohitmahambrey]

I keep multiple cards as it gives multiple airport lounge access

[@lkmarts1464]

Sir agar mai 4-5 credit card le lu . Aur unhe 4-5 month use na karu ya minimum 1-2% use karu to kya credit score me kya farak padega. Please sir reply karna...

[@MrBijon007]

I loved the tips given by you. I also keep 7 CC but all for different purchases. I also use Cred to track my spends n due dates. The icing on the cake was ur funda of debt mutual fund to earn free money 🤑. I will use that now. Thanks

[@apurvpatani]

very very helpful, thank you!

[@ahmadwasim8035]

I wish I watched this video before I closed 4 cards last month

[@venusjain7812]

Wonderful job Sir, very detailed explanation.

[@hiteshshah9201]

Sorry to correct you but sir why to open all your secrets as which credit card you keep with you, which you keep at home? 11:15

[@anilsrivastava5978]

Can you explain CRED app and its benefits/ disadvantages.

[@Sameer-Shirsekar]

What is the charges if go for cash withdrawal but paying on Time before due date?

[@saifulla0717]

It's really amazing video for me how to earn money by investing in FD and you have not informed about EMI Convert benifits if you get the time please make a video on it🤗🤗

[@harishgowdabp]

I am using three credit cards with zero annual and joining fee

[@certified4mahtab]

@warikoo: Pls make another video on how to get out of credit card debt for multiple cards.

[@arkakundu225]

Take a personal loan and clear ur credit card debts...bcos ROI for a personal loan will be around 15-16%pa, whilst credit card debt interest is around 40% pa...so better paying EMIs which has a lower ROI...no need to telegram him now

[@alekshendra1]

What I’m surprised about is that he has his account in HDFC and yet he does not own an HDFC CARD

[@shaikhshabnam2211]

Hello can you please help us understand which forex card is best for international travell. it would be great if you take a time and make avlog on this, it will be really helpful for most of them.

[@Creative-me7jd]

You should always be aware of your paying limit

[@MonuMotivational54]

Sir Tesla,Apple,Microsoft,Google,Amazon in sbhi stocks ka buy level btao

[@avinashpatil4934]

What if we buy asset product from credit card and sell with adding our margin, and pay credit card bill. That's the secret to do business without money

[@Simple_Indian]

Always best to have fewer CCs and DCs. Most folks don't need more than one of each, unless like Ankur one is required to separate their personal and business expenses (it has tax implications too). If one is good with fiscal discipline, one can use a CC for all online & offline payments to earn reward points and defer payment (usually 45-50 day credit). But, some websites and offline stores charge a admin/processing fee for swiping CC but not on DC, so in such cases DC is preferred mode of payment. Most people with a Bank a/c can avoid dealing in cash, esp since the pandemic started in early 2020.

[@stocker4321]

Black money but tho kharchna hai😂

[@aryanjha8411]

Hi Ankur sir, I am just about to finish my college degree and start working from June/July. Would you suggest I get a credit card soon or should I wait? Also, could you please make a video about the different credit cards that a person can or should get for the different services they provide. Thank you.

[@vikram0607]

Get a card with no annual fee

[@aryanjha8411]

@@vikram0607 Which one? There are so many options. If you could recommend something that would help.

[@gourobnandi1034]

I will suggest to have Flipkart axis and Amazon icici as most of your purchases will be from Flipkart/Amazon/Myntra. Getting a 5% cashback on most of your purchase will be a great way of saving some money and don’t go with emi/no cost emi. And after that you can go with HDFC milenia/sbi cashback as they offer 5% cashback but sbi cashback is better as it provides 5% cashback on all online spent.

[@ashwinshyam]

You can get a credit card, provided you have financial discipline. First get a corporate salary account, then ask the same bank for a card. You'll tend to get a better card like this for lifetime free than applying directly.

[@vikram4746]

Wow, this was very helpful. Thank you so much.

[@harrydevgan3116]

best advices !

[@AbhinavSafi]

I am student still use 3 to 4 credit card 😐.

[@utkarshkothimbire1484]

Thank you for making this video.

[@nidhishghag9080]

Please make a video on Scapia and one card.

[@amal0619]

Can you make a video to attain life time free credit cards of different banks???

[@behindtheglosss]

Thank you, appreciate the information.

[@parthchoudhary8897]

what about freelancing people, is it worth it for them to get multiple cards

[@adfernand987654321es]

No

[@shivaniad]

Nopes

[@gourobnandi1034]

Absolutely who have any expanse should have a credit card. As most of our purchase are from online. SBI cash back card give 5% cash back on every online spent. You can also have Flipkart axis and Amazon icici as they offer 5% cashback on all spent on the respective app.

[@vinaytirmanwar618]

Sir please make vedeo for how to win a year from February

[@juliananna9279]

It's available on Telegram⬇️.

[@juliananna9279]

@MR_JOHN_SCHMIDT

[@vinaytirmanwar618]

@@juliananna9279 can you send link

[@jacksonmee1758]

@@vinaytirmanwar618 search on it with that name

[@probhatpatnaik5064]

Hello ankur sir. Big fan of ur contents. Even this video is very informative. I liked the Debt Mutual Fund part. Can you please suggest some good debt mutual funds to park few thousands for 2-3 months?

[@Lifecoveruk01]

SBI credit card kaisa h

[@shobhitgarg5707]

Nyc information