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Valued Contributor
Posts: 1,098
Registered: ‎02-03-2009
0

Re: Anyone reach the point where their CC portfolio is complete?

For me it is not about NEED, it is about WANT. I definitely do not need another card, but now that I can get cards I want without a real fear of being denied I will do so if the card suits my purpose. I have several cards that could be closed now, but since they have no AF, I will keep them open for now. That being said, I am hoping that Chase is still offering the 50k point bonus on the Southwest card by January-Feb (which is the next time I probably will do an app.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (6), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 RLR MC, Diner's Club MC; FNBO Amex; Comenity Visa/MC (3), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (11/2015): EQ My Fico: 793; TU MyFico: 781; EX (My Fico): 789
Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Anyone reach the point where their CC portfolio is complete?

I have everything I need at this time, and good CL's on all of them. I see no need to add anything else to my portfolio at this time.

Ray

** Every Card has a Job, and Every Card does its Job **

Regular Contributor
Posts: 156
Registered: ‎07-11-2012
0

Re: Anyone reach the point where their CC portfolio is complete?

I am definitely done for the time being, in fact, I feel I have too many. Hopped on discover for BT purposes to avoid interest. Hope to use my SW RR as my daily once I've BT out from there, and Freedom for category spending. Plan on just getting CLIs now. No other card really appeals to me at the moment... maybe Amex BCE to eliminate the AF of Zync.

In full gardening/ debt annihilation mode! (4/15/13)
Notre Dame FCU Visa 0/2k (8/04); CapOne Best Buy 800/1.5k (7\06)
Citi Thank You World MC 4800/9.7k (1/11); Amex Zync NPSL (9/11)
Chase Freedom Visa 1600/3.8k (9/11); Chase Southwest RR Premier Visa Signature 4300/10.7k (6/12); Discover It 0/3k (7/12)
EQ: 751 (4/1/13) EX: 742 (4/8/13) TU: 732 (4/8/13)
Established Contributor
Posts: 548
Registered: ‎02-27-2012
0

Re: Anyone reach the point where their CC portfolio is complete?

I have set my goal at the following:

1. 2 Penfed cards (25-30k limit on each)
2. 2 BOA cards (25-30k limit on each)
3. Amex BCE- 25k limit
4. Alliant- 20k limit
5. Discover More- 15k limit
6. JPM select- 25k limit
7. CITi thank you premier- 25k limit

Im going to stop applying and stop worrying about great at that point...lol
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Anyone reach the point where their CC portfolio is complete?


HenryJumbo wrote:

I'm just about done and I have only 3 cards.

1st card: Capital One Cash Rewards for Newcomers.*

2ndcard: Chase Freedom

3rd card: Blue from American Express**

 

*I’m eventually going to drop the cap1 card as it was my first card and cl stuck at $750.

** Will PC to Blue Sky from American Express as I don’t see the point in getting BCE when I have Freedom.

 

All I want is 1 card for everyday shopping (Freedom) 1 card for travel and hotel (Amex Blue Sky) and 1 later on with a very low apr.

I was also thinking about the Discover More but once again I have a Freedom so pointless. Anyone recommend a card that offers a low apr? (I don’t care about rewards, or perks).

 



Chase Slate or a CU credit card is going to be your best bet...  PenFed CU has some nice cards.   CUs can typically give lower rates because they are non-profit. They "give back" profits to members in the form of lower rates for loans or credit products, and higher rates on savings and CDs.

 

Depending on the financial health of the CU, you'll get varying degrees of low rates


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Frequent Contributor
Posts: 364
Registered: ‎08-23-2011
0

Re: Anyone reach the point where their CC portfolio is complete?

My portfolio is complete with two cards. Discover more is great for cashback bonus and other little fun promotional categories. Cashback is good to use on little things like store or restaurant gift certificates or on amazon. No annual fee means I can keep this card for as long as I can to keep my AAoA steady.

 

The second card is my United Explorer and I use it for everything not in a Discover category and my mileage account is inflating at a good rate when you push the large majority of your spending through one card.

 

I have good rewards covered for everything and any further cards would just be one more bill to remember to pay, and dilute my rewards if I have to spread out my spending over multiple cards.

 

So as for the moment my portfolio is complete. I have been watching the MC/Visa lawsuit carefully to see what happens. If surcharges remain I won't be able to use a credit card for everything anymore so I would be keeping the United card as the perks would still be worth the annual fee even though I won't be able to spend as much on it or if I book flights and hotels through United I could still avoid the surcharge since I am sure airlines will offer no credit card surcharges as a "perk" for booking with their co branded card as lousy as that sounds. Right now you can book with any credit card, in the future you will be charged extra for every credit card except their own co branded card. Nice little "perk" huh?

 

If the lawsuit is reworked to where there are no surcharges, I will go with the sapphire preferred instead since the perks are not too important to me and I want to earn miles as fast as possible. Of course with a card that doesn't have any perks but a good points earning rate, widespread surcharges for credit card use basically renders that kind of card worthless.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)
Valued Contributor
Posts: 1,142
Registered: ‎09-01-2011
0

Re: Anyone reach the point where their CC portfolio is complete?

I love what Ray has in his signature:

 

"Every Card has a Job, and Every Card Does Its Job"  

 

That's the way we use the current cards that we have -- for the job at hand. 

 

There are other additional cards we would like to add later on -- but, actually, we're doing quite well with what we have right now.  Perhaps, in the future, we will add the Chase Sapphire Preferred, the Amex SPG, maybe the PenFed Travel card, the US Bank Cash + card....   all in good time. 



Husband's Current Score: EX 691 CUSC; EQ 694; TU 687; Mine: EX 773 (AMEX); EQ 720; TU 750
Wallet Contents: SECURED: Capital One Platinum Mastercard, US Bank Harley Davidson Visa, USAA Bank American Express;
UNSECURED: Chase Freedom; USAA Cash Rewards World Mastercard, Discover More, CUSC Platinum Rewards Visa, American Express Zinc, American Express Blue Cash Preferred, Amazon Card, Walmart Discover Card
Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Anyone reach the point where their CC portfolio is complete?

[ Edited ]

discernment wrote:

I love what Ray has in his signature:

 

"Every Card has a Job, and Every Card Does Its Job"  

 

That's the way we use the current cards that we have -- for the job at hand. 

 

There are other additional cards we would like to add later on -- but, actually, we're doing quite well with what we have right now.  Perhaps, in the future, we will add the Chase Sapphire Preferred, the Amex SPG, maybe the PenFed Travel card, the US Bank Cash + card....   all in good time. 


Thanks!  Smiley Happy

 

Really, that is how I use the cards. They all have a job to do and they do it. I think the same way with my money, it all has some sort of job to do... I assign my "dollars" jobs in my budget. This has worked very well for me / my family.

Ray

** Every Card has a Job, and Every Card does its Job **

Regular Contributor
Posts: 157
Registered: ‎03-05-2012
0

Re: Anyone reach the point where their CC portfolio is complete?

I think I am there - just this week I got the  Amex BCP and US Bank Cash+ VISA so I think I have all the rewards cards I need with ample CL. Only change I might consider is trying to PC the Marriott for the CSP and the Citi Advantage for the Citi Dividend  as I don't travel a lot anymore so the miles and marriott points aren't as big of a draw as they used to be.

FICO: EQ 769, TU 762 , EX ???

Blogger
Posts: 2,876
Registered: ‎02-02-2012
0

Re: Anyone reach the point where their CC portfolio is complete?

Currently, I am in "need" of absolutely nothing else.

I'd like a CSP, but it's not necessary. If the minimum spend would be reduced in order to get the initial bonus, I'd apply, but for now, I hold steady to what I have.

I'm looking to close my 1-2-3 next year once I've gotten all my balances to 0 and closing it won't affect my overall utilization. I don't want to pay an AF on a card I only use on off quarters when Freedom/More don't have gas as a 5% (which technially is 2 months a year), but BCE means I don't miss out as much (just 1%).

 

My Hyatt Visa is something of a want, more than anything else.

But I'd love to keep it at 4 cards, 5 max if it's the CSP as well.

 

I have no use for store cards that give me a 15% once in a blue moon, specially since I'm too much of a savvy spender to want to save an additional $2 dollars.

 

So I'd say, I'm at about 98% complete... for now.

Things could change in a year.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

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