How many credit cards is too many?

[Anonymous]

As long as one is using their cards regularly (this word is open to interpretation) I don't think there is "too many."  For some regularly may mean a couple of times a quarter, for others a couple of times a month and for some a couple of times per week.  I think if one possesses cards that they go 3-6 months without using, clearly they don't need it/them so in that case I'd say they have "too many" with respect to the ones they don't use regularly.

Someone with $200k income is likely going to have more use for a large number of cards than someone with $20k income, so answers will certainly vary.

[Blackbeauty212]

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@Anonymous wrote:

As long as one is using their cards regularly (this word is open to interpretation) I don't think there is "too many."  For some regularly may mean a couple of times a quarter, for others a couple of times a month and for some a couple of times per week.  I think if one possesses cards that they go 3-6 months without using, clearly they don't need it/them so in that case I'd say they have "too many" with respect to the ones they don't use regularly.

Someone with $200k income is likely going to have more use for a large number of cards than someone with $20k income, so answers will certainly vary.

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You'd be surprised how many high earners have 1 main go to card. They put everything on that card and PIF every statement. Its more the Middle Income Americans, that I find do the most Rotating of Multiple Cards on a frequent basis. 

I have one acquaintance that only carries his Amex Plat and nothing else, no back up card whatsoever, even as Amex is the least accepted card.  His thought process is, if they don't take Amex, they simply don't want his business. He's not carrying a backup Visa/MC just to have insurance. He's amazingly secure in Amex. 

[Anonymous]

That wouldn't surprise me.  I'm by no means a high earner and for 15 years I carried only 1 credit card (a Visa).  It wasn't until recently that I extended myself to 4-5 which I feel is plenty and I can't ever see myself wanting more.  But, again, this is coming from a guy that had 1 credit card for 15 years so it's easy to understand how having only a few more now can almost seem like "too many" but IMO it's "just right" for me.  I feel like if I ever found myself running less than 1-2 transactions through any of the cards per month though that I personally would likely deem it unnecessary.

[Anonymous]

My situation is about the same as yours Brutalbodyshots. My dh and I had 2 cc for years and only recently added 3 more for the rewards. I am feeling like it is more then enough.

[kdm31091]

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@Blackbeauty212 wrote:

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@Anonymous wrote:

As long as one is using their cards regularly (this word is open to interpretation) I don't think there is "too many."  For some regularly may mean a couple of times a quarter, for others a couple of times a month and for some a couple of times per week.  I think if one possesses cards that they go 3-6 months without using, clearly they don't need it/them so in that case I'd say they have "too many" with respect to the ones they don't use regularly.

Someone with $200k income is likely going to have more use for a large number of cards than someone with $20k income, so answers will certainly vary.

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You'd be surprised how many high earners have 1 main go to card. They put everything on that card and PIF every statement. Its more the Middle Income Americans, that I find do the most Rotating of Multiple Cards on a frequent basis. 

I have one acquaintance that only carries his Amex Plat and nothing else, no back up card whatsoever, even as Amex is the least accepted card.  His thought process is, if they don't take Amex, they simply don't want his business. He's not carrying a backup Visa/MC just to have insurance. He's amazingly secure in Amex. 

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I know people like this too -- who only carry one card and don't sweat it. In the "credit world" we worry about things far more than the average person, such as carrying 5 cards in case each network goes down (which is so ridiculously unlikely, yet these are the things we do!).

[longtimelurker]

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@Blackbeauty212 wrote:

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I have one acquaintance that only carries his Amex Plat and nothing else, no back up card whatsoever, even as Amex is the least accepted card.  His thought process is, if they don't take Amex, they simply don't want his business. He's not carrying a backup Visa/MC just to have insurance. He's amazingly secure in Amex. 

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To me, the major reason for carrying a back up is just in case the business not accepting Amex is the only relevant business around!   But that's probably fairly unlikely (and in such places its more likely to be cash only than Visa but not Amex)

[Gmood1]

There are quite a few places in my area that do not accept Amex. @ Black Beauty, your acquaintance would be amazingly hunger around here! Lol
I've found the mom and pop shops rarely take Amex in my area.
I'm happy to support small business and have no problem using a different card.

[UncleB]

This is a very interesting thread (thanks to the OP for starting the conversation)... I've actually read though all of it, and once again I find myself agreeing with both 'camps' and finding flaws with each as well.

On the one side, we have folks of the "get it while you can" opinion, and I will say that there is wisdom to getting credit before you actually need it - I've actually lived that reality myself.  As with most things, though, there is a point of diminishing returns where you start to cause more headaches for yourself than it's worth (others have already outlined the negatives, so I won't list them again here).

On the other hand, there are the folks who feel strongly that having more than three or four cards is over-kill and will go so far as to state that there is absolutely no need or purpose in doing so.  Further, it has been stated that upon manual review for a mortgage, etc. others will have some 'explaining to do', since they are clearly out of the 'norm', and are misfits or addicts.  There are a few things wrong with this opinion (in my own opinion), the first of which is that they are trying to objectify something that is subjective... i.e. what's "extreme" for one person is just run-of-the-mill for someone else.  Secondly, there are plenty of us here who aren't 'tempted' by having available credit - I'm quite fine with looking at a card without using it - and many of my cards are used for the benefits/discounts rather than as a way to get past the cashier.

This is another example of how the 'truth' (again, in my opinion) is somewhere in-between the two extremes.  I have over a dozen credit cards total, and I don't have them just to "look at" or treat as trophies... they each have a purpose.  When any card ceases to have a purpose, it will be culled - it's as simple as that.  In other threads I've outlined card by card how I used each of them (i.e. why I got it) so I won't bore anybody with that here, but if my needs were to change I could see myself with 20 cards, and if it happens it won't 'stress' me, if anything it would be the opposite - the card would add 'value' to my lifestyle. 

Finally, I'll just add that we need to remember not everybody has the same needs, and it's impossible to judge everyone with the same yardstick, which is why it's best to avoid judging at all. 

[Anonymous]

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@baller4life wrote:

Individual preference. How ever many you feel you can comfortably manage. I decided I really don't want to manage any more than 20-25. And I really don't need that many. But, I would much rather have more credit than I need than to need credit and can't get it! 😉

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Me, too!

[Anonymous]

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@UncleB wrote:

This is a very interesting thread (thanks to the OP for starting the conversation)... I've actually read though all of it, and once again I find myself agreeing with both 'camps' and finding flaws with each as well.

On the one side, we have folks of the "get it while you can" opinion, and I will say that there is wisdom to getting credit before you actually need it - I've actually lived that reality myself.  As with most things, though, there is a point of diminishing returns where you start to cause more headaches for yourself than it's worth (others have already outlined the negatives, so I won't list them again here).

On the other hand, there are the folks who feel strongly that having more than three or four cards is over-kill and will go so far as to state that there is absolutely no need or purpose in doing so.  Further, it has been stated that upon manual review for a mortgage, etc. others will have some 'explaining to do', since they are clearly out of the 'norm', and are misfits or addicts.  There are a few things wrong with this opinion (in my own opinion), the first of which is that they are trying to objectify something that is subjective... i.e. what's "extreme" for one person is just run-of-the-mill for someone else.  Secondly, there are plenty of us here who aren't 'tempted' by having available credit - I'm quite fine with looking at a card without using it - and many of my cards are used for the benefits/discounts rather than as a way to get past the cashier.

This is another example of how the 'truth' (again, in my opinion) is somewhere in-between the two extremes.  I have over a dozen credit cards total, and I don't have them just to "look at" or treat as trophies... they each have a purpose.  When any card ceases to have a purpose, it will be culled - it's as simple as that.  In other threads I've outlined card by card how I used each of them (i.e. why I got it) so I won't bore anybody with that here, but if my needs were to change I could see myself with 20 cards, and if it happens it won't 'stress' me, if anything it would be the opposite - the card would add 'value' to my lifestyle. 

Finally, I'll just add that we need to remember not everybody has the same needs, and it's impossible to judge everyone with the same yardstick, which is why it's best to avoid judging at all. 

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Thoughtful ontarget response, as usual, Uncle B. I couldn't agree more...