Is 3 Credit Cards Too Many? – Switzerland 2024

Is 3 Credit Cards Too Many?

Since every card has its own strengths and weaknesses, this raises an important question: Is 3 credit cards too many? – In this article, we’ll answer the question of how having multiple credit cards impacts your creditworthiness (also known as credit score).

Is it bad to have 3 credit cards at once? – The short answer:

Having 3 credit cards at once can have a negative OR a positive effect on your credit score. If you don’t pay on time and use every card to its limit, this will harm your score. If you always pay on time and only use about 30% of your card limits, it will strengthen your score.

Now, let’s get into it in a bit more detail.

Swiss Credit Score System 🇨🇭

Swiss Credit Score System

Like in many countries, Swiss credit scores are a measure of financial reliability.

Influence of Credit Cards on Credit Scores: Credit cards play a significant role in shaping these scores. Properly managing multiple credit cards can demonstrate your financial acumen, reflecting positively on your credit score. Conversely, mismanagement can lead to a decline in your credit score.

Balancing Multiple Cards for Optimal Credit Health: Owning multiple credit cards in Switzerland is not detrimental to your credit score by default. The key lies in how they are managed. It’s essential to maintain low balances relative to your credit limits and ensure timely payments. High balances or missed payments are red flags that can negatively impact your score. In my experience, it’s best to only use about 30% of your credit card limit.

Management of Three Credit Cards 💳

1. Strategic Budgeting and Controlled Spending

Successful management of multiple credit cards requires meticulous budgeting. Each card should serve a distinct purpose. For example, one card could be designated for daily expenses, another for online purchases, and a third for accruing travel rewards. You could even have cards like the credit card from Manor to only use them at a single store.

2. Keeping Track of Payments and Balances

The complexity of managing multiple cards necessitates a robust system for tracking due dates and current balances. Missing a payment can lead to fees and negatively affect your credit rating. Employing financial management apps or setting up automatic payments can be effective strategies to stay on top of your finances. Personally, I like to set up direct debits for all of my credit cards.

balancing multiple credit cards

3. Advantages and Challenges of Three Credit Cards

Having multiple credit cards comes with a unique set of advantages and challenges. Here is what you have to consider:


  • Diversified Spending and Rewards: Different credit cards offer varying benefits, like, for example, cashback on groceries or points for airline tickets.
  • Emergency Preparedness: Having more than one card provides a safety net in case one is lost, stolen, or temporarily unusable.
  • Optimized Credit Utilization: Holding multiple cards usually means access to a larger total credit limit. If balances are kept low, this can positively affect your credit utilization ratio, a key factor in credit scoring.


  • Increased Financial Complexity: More cards translate to more accounts to monitor, which can be overwhelming and time-consuming.
  • Higher Debt Risk: Multiple cards can tempt users to overspend, potentially leading to significant debt accumulation.
  • Cumulative Fees: Annual fees and other charges associated with credit cards can accumulate, especially if not carefully monitored.
3 credit cards

Example Case Study:

Examining real-life scenarios can provide insights into how multiple credit cards impact financial health:

  • Scenario 1: The Prudent Manager – This individual strategically uses three credit cards, keeping track of expenses, utilizing rewards, and maintaining excellent credit health through disciplined spending and timely payments.
  • Scenario 2: The Impulsive Spender – Another individual may struggle with the temptation of accessible credit, leading to overspending and accumulating debt, ultimately harming their financial stability and significantly reducing their credit score.

Conclusion 🎓

In Switzerland, whether three credit cards are too many depends on individual financial management. Properly managed, multiple cards can improve your credit score, demonstrated by timely payments and low balance utilization. However, mismanagement, like high balances and missed payments, negatively impacts your score.

The effectiveness of having multiple cards lies in strategic use and disciplined spending rather than the number of cards themselves. Undoubtedly, there are some good offers out there. Ultimately, the impact on creditworthiness hinges on personal financial habits and responsibility.

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