Two Credit Cards Are Better Than One

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Published: September 29, 2015 Last updated: January 6, 2021 at 7:42 am

Credit-History_crop Using Two Cards to Optimize Your

The other day a reader wrote in and asked “is it bad for my rating to have an inactive credit card? I prefer to only use one and use the backup card only if I misplace the one I regularly use”.

I replied “Good question. It’s not so much as it is bad, but rather it means you are not optimizing your score – and this could matter if in the future you need something significant credit-wise.

I often suggest to people to exercise their unused cards once every six months or so and to avoid mishaps when they get home that night, pay the amount in full from online banking. It could be as simple as a gas or grocery purchase.

That will keep your history happy, and not really affect your day to day strategy.”

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​Ross Taylor
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Ross Taylor is recognized by his peers as one of Canada's pre-eminent difficult specialists. His ASKROSS blog and column ​ in Canadian Trends are focused on the intersection between mortgage financing and personal credit.

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