New Delhi, Nov. 6 -- In the country, an increasing number of borrowers are using credit cards to meet day-to-day expenses. A recent report highlighted that over 42% of credit card users spent more than Rs.50,000 to meet festive expenses. This seemingly easy credit can further fuel the desire to have more than one credit card.

Still, it is essential to keep in mind that having several credit cards can have both positive and negative effects on your credit score. Essentially, it depends entirely on how these credit cards are managed.

Well-planned use of multiple credit cards can strengthen your credit score by:

Holding multiple cards without any vision and proper planning can also have a damaging effect:

Multiple credit cards can have b...