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

[@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.

[@lifelovedeath]

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

[@siddheshk6943]

If you have good financial discipline and pay in full without fail then good to have separate cards for 1. Travel (Co-brand or Amex) 2. Dining and Shopping 3. Fuel (Surcharge waive off, 4-7% cashback) 4. Any card from Rupay (lesson learned after Russia war and blocking by Visa and MasterCard)

[@ajinkyanarke]

can u suggest some for above type?

[@ravindersinghrathore1290]

​@@ajinkyanarkeamex are best for traveling but you can also have hdfc regalia gold or axis vistara card for traveling

[@ravindersinghrathore1290]

​@@ajinkyanarkefor dining and shopping you can use hdfc milienia card which is best for shopping and rewards point values

[@ravindersinghrathore1290]

​@@ajinkyanarkefor fuel spend i use icici amazon pay card coz it weavers all the surcharge on fuel transaction or you can use hdfc indian oild card or bpcl sbi card

[@sudhitpanchal4996]

4-7% for fuel can you tell me one credit card that gives 7%?

[@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

[@mayankpalyoutube]

@@manvendrasingh1834 yeah that's what i'm thinking bcs all banks share cibil score data!

[@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

[@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

[@knrking007]

@@Shaikh-rf1ed amazon pay icici, induslnd legend, one card, hdfc iocl...lot many based on personal call frombank

[@n2m8gaming93]

​@@Shaikh-rf1edagar credit card ka jada use nhi hai tho lifetime free wala use karo agar jada hai tho paid wala use karo ek hi reason hai iska because paid wale mein jada reward points milega jo paid fees tho vasool hi lega usse jada mil bhi jayega

[@digitaldeepak21]

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

[@akashpandey1488]

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

[@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

[@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?

[@rahulsurya897]

Ankur Sir, Ek Number Explained.. Superb...🤩😍😍😍

[@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.

[@Wasim_em-pire]

I have 7 credit cards & your explanation is 💯 correct 😊

[@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

[@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 :)

[@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

[@saurabh161187]

I had a bad experience of that minimum due trap and it was a nightmare and than I have learned how to use credit card. Now I have 8 credit cards and it's good if you know how to use them wisely.

[@mayankpalyoutube]

does it not affect your cibil score bcs all banks share cibil score and keeps track of it.

[@apurvpatani]

very very helpful, thank you!

[@huseler]

Finally someone with the same mindset...

[@thedev-yani]

I have 4 CCs too. Somehow i manage to spend enough that my membership fee gets waived off, but I don't use much and my credit utilisation is pretty low. That hurts my cibil score too.

[@nashaik7765]

Jabardast Ankur ji. THank you very much.

[@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

[@ravikumar246810]

Exactly how i am using. Thanks🙏

[@deeparora7590]

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

[@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

[@ranjithrkp8114]

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

[@mdasif5815]

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

[@parab.nagesh4737]

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

[@ShoaibAnsari-qu6ff]

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

[@soughatinfotech]

Sir Your Information is really Productive. I learn so much from your Vedio 👍

[@Abhishek_yadav004]

Thank God...every negative points not experienced ever. I use 7 credit cards and when it comes to physical card, i keep all my cards on Samsung pay and physical cards at home so no fear of loosing them😁

[@Vinay8484Studio]

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

[@uttamparmar6660]

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

[@Maharashtra_Marathi_Bharat]

Great Sir ❤❤❤

[@videoanalyst4u]

1 more thing I guess may not be available in India but available in West is there is something called “Balance transfer at 1%” for 6 months which is run by some top banks in America/Canada. The credit card holder can just withdraw or write a cheque or etransfer that money to himself/herself and just pay 1% of balance fee for 6 months. If market or returns are higher than 1% than that I believe is a big advantage most North Americans never take advantage of.

[@shivaniad]

Its there in sbi credit card

[@n.s.chouhan5433]

Sbi wo kaise?

[@ankittomar7528]

Bada ache se smjate ho bro yarr ❤️

[@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 😊

[@cutebabyshivaarth]

Actually I was waiting for such video from your channel

[@vikassinghsingraur]

Very informative video... I already use all mentioned points and enable my friends about it ... Specially "credit card as Debit card" one

[@vinodkumargopalsetty1148]

Very helpful information. Thank you

[@Gen1Manoranjan]

Thanks for making this video.... Very informative

[@harrydevgan3116]

best advices !

[@ankansharma4897]

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

[@gamesplayer6181]

Thanks sir for these awesome tips and tricks

[@RaptorGaming99]

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

[@uskar77]

Sir...Mera sbi se home loan chal raha hai last 3 yrs se....ek bhi emi late nahi hua....feb2024 mein off line meine sbi click credit card opt Kiya tha....lekin mere ko sbi pulse send Kiya Gaya...Maine card ko aaj tak activate nahi kiya....last week Maine sbi cash back card online apply Kiya... reject ho gaya....pls give me suggestions what to do know....ek time tha mere cibil almost 800 tha....ajj 699 hai... Pls reply

[@ABI-fn8vq]

Thank you sir for sharing the valuable information about credit card

[@sameersingh4477]

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

[@Youpremium-p5c]

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

[@shouryapratapbhadauriya2380]

This video came at the same time i was searching for this. What a coincidence. Thanks a lot for posting this amazing video 🙂.

[@parthchoudhary8897]

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

[@arunvvk]

If you have doubt get a credit card with low limit , i think 30 is lowest in an sbi card ,not sure. Use it , you will know if you can handle a credit card or not. It is not necessary everyone should be good in using credit cards , if you are not good then just stay away and live a good life , dont have to force yourself.

[@priyanksirohi8286]

I am new to your channel, and seriously get bunch of knowledge in a single video, keep it up sir.

[@priyanksirohi8286]

@TEL.ËGRAM me 👉👉warikoo41 great sir

[@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.

[@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.

[@ivinitmittal]

CC Nerd!!💯

[@harshbagade8297]

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

[@anilsrivastava5978]

Can you explain CRED app and its benefits/ disadvantages.

[@swethas1387]

15:00 when he mentions he will liquidate the debt mutual funds/ FD will he be using the interest benefit of just the 1500 to pay off the EMI or can he liquidate how much ever money from the funds to pay off the credit card loan EMI.. Its really confusing

[@SiddhuS212]

Excellent video

[@sangwanislive3146]

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

[@flyingbisht]

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

[@mayanktripathi6473]

From 13:20 is best for earning through credit card

[@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 👍🏻

[@shobhitgarg5707]

Nyc information

[@abhishekganguly123]

One thing you completely skip that is 18% GST on top of the interst, it is absolutely rip off.

[@trishulk4442]

sir 14.11 wala point ko thoda aur explain kriye na konse bank ya fd me invest kre per moth ke hisab se ?

[@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 .

[@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.

[@Ranjaneee]

Sir ydi hm 90% limit use kr lete hain aur bill generate se pahle 70% payment kr deta hu Then mera utilisation ratio kya hoga Sir

[@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!

[@utkarshkothimbire1484]

Thank you for making this video.

[@sakshivlogs007]

Sir mere pass 7 credit card 2 pay later 1 car loan hai or meri payment history 100% hai har month full payment krti hu but credit score kabhi increase ho jata h kabhi decrease ho jata h

[@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%

[@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.

[@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.

[@Souvikblogs]

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

[@PradeepKumar-ti6jv]

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

[@manojgulatione]

Last line was amazing 💖

[@behindtheglosss]

Thank you, appreciate the information.

[@jayshah1086]

HI, I already have 3 cards and planning for 4th. can you guide me when to apply. I want bill date on 7th of month. please guide when to apply or book. Thankyou

[@rkp8495]

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

[@dhrubabarman4600]

Every credit card has yearly charges almost 500 per year. If you have 4 card then almost 2000 per year.

[@nidhishghag9080]

Please make a video on Scapia and one card.

[@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

[@VivekKumarvkuamr]

Thank you !!! ... Very nice video.

[@philipabel6239]

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

[@MonuMotivational54]

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

[@indrajitdeb2846]

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

[@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

[@yashkumargupta9162]

What if I pay the next day just to track where I did the spent will it cause any harm?

[@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?

[@subhankarsarkar6206]

14:45 Wariku Co-operative Bank ‼️🏦😅

[@pradyumnarenke295]

😂😂😂

[@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

[@venusjain7812]

Wonderful job Sir, very detailed explanation.

[@vikram4746]

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

[@pravirbarwa8341]

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

[@skillpump]

True buddy