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Can people with 6-8 credit cards share their experience with us?

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Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

I have six open cards and I struggle to use them all.  If I get a cli from CCCU at one year anniversary I am closing HSBC.  I have been with them for 5 years, never late.  I started at 1000 and five years later I have 1900.  They do not grow with you.  I checked their pre-qualifying site and they offer me an Orchard card with a/f.  WTH?
Message 11 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

I have eight cards total... 5 rev credit, 1 open credit and 2 rev charge (retail & gas), for a total of $66k CL:

BoA Plat Visa

Citi Plat Select MC

Cap One Plat Visa

Chase MC

AMEX Gold Delta Skymiles

 

AMEX Plat

 

Macy's store card

Exxon/Mobil gas card

 

Five of them I've had for a while now (6-10 years).  The other three are recent.  For my credit usage, and to optimize my FICOs and CRs, these eight work pretty well for me.  I can have up to 3 reporting a balance each month to the CRAs, but most of the time, it's 1-2 reporting.  I've thought about getting a Discover More (just because it would 'complete the set'), but can't really justify any more cards. Even so often I consider closing one each of the Visa & MCs I have, but can't really think of a good reason to do that either.... so 8 it is, for now.

 

I have a ton of closed accounts that will fall off my CRs in the next five years (old student loans, mostly), so I'd like my current cards to age and help with my AAoA for a while.  I also have a car loan (down to 65% util), but no mortgage right now.

Message Edited by writemikep on 11-06-2008 09:59 PM
Message 12 of 31
laz98
Senior Contributor

Re: Can people with 6-8 credit cards share their experience with us?

i have a bunch of cards, & it is a pain sometimes to keep track of all the payments & whatnot.  but i like staying on top of it, so it's not too bad.  but it's definitely not for the unorganized or not-so-responsible.  (not judging you, just saying)

 

i keep an excel spreadsheet with all of my accounts, & all of my gf's accounts, since i handle our finances.  it makes it much easier to keep track of the information.

Message 13 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

I don't want to go off topic, because I only have 3 cards, but even then I use yodlee to keep track of my finances. It's free, and it's very comfortable to see everything on one page. Including bill reminders Smiley Happy.
Message Edited by Ulan on 11-06-2008 10:47 PM
Message 14 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

Well I have about 8 cards. Generally 3 carry balances and the rest get use about once every 2-3 months to show usage. If you know how to manage your spending then you should be okay. I check my accounts online at least once a week just to make sure we are on the same page with payments and balances.  Also I carry $20 cash in my wallet  and keep 3 CC with me at all time. Amex Delta primary, BoA Amex as backup for Delta " NEVER LEAVE HOME WITHOUT A BACKUP FOR YOUR AMEX CARD" then a Visa/MC for places that don't take Amex. 

Message 15 of 31
fused
Moderator Emeritus

Re: Can people with 6-8 credit cards share their experience with us?


mandela wrote:
improving credit

 

How many cards do you have and what are they? When were they opened?
Message Edited by fused on 11-07-2008 07:10 AM
Message 16 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

I have 10 cards i don't have a hard time handling them at all but i don't think i can handle more.
Message 17 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

FUSED--you're killing me.  lmao.
Message 18 of 31
fused
Moderator Emeritus

Re: Can people with 6-8 credit cards share their experience with us?


casinoannie97 wrote:
FUSED--you're killing me.  lmao.

 

??
Message 19 of 31
Anonymous
Not applicable

Re: Can people with 6-8 credit cards share their experience with us?

I have 23 open credit cards - 4 are store cards.
Message 20 of 31
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