Life presents us with a series of life-altering decisions. Should we search for a new job? Are we ready for marriage and children? Is getting a second credit card a good idea? Okay, maybe that last one isn’t in the same category, but it is an issue that requires some thought.
A second credit card means another monthly payment. Applying for one will have an effect on your credit score. There’s also the possibility that your spending could become unmanageable, and you’ll start to hear terms like “debt snowball” and “debt avalanche method,” which can sound scary if you don’t know what they are. (They’re ways to pay off your debt, BTW.)
None of this means that getting a second credit card is a bad idea. There are benefits to doing it and good reasons why you’d want to apply for one. In this article, we’ll go over some important … Read the rest