Is there such a thing as too many cards?

[Anonymous]

I don't know if the card act change the rules but if you were late on one account the bank has the right to hike up the APR on all other accounts you have with them. that's a disaster if you were late on a a lowly store card, and your bank card with a balance transfer goes to default rate. Citibank did that to me.

[Anonymous]

I check all my credit card and bank accounts every day. For me, that many cards would be way too much of a hassle. I've decided on 10 cards as my maximum, and sometimes I think that is too many.

[EdMan63]

I currently have 5 bank cards and 1 store card. I only keep the store card because it is one of my oldest. There is no way I could or would even want to manage 50 cards. I'm of the opinion that a few quality cards trumps a bunch of stuff you don't use. I only use about 3 on average on a monthly basis. YMMV. 

[jbsea]

Yeah, 50 may be too many.... Can you combine some of them?  I would guess that you have serveral from the same bank.  Maybe get rid of the low limit ones or ones that offer little or no rewards. 

[kdm31091]

Personally, I think for me, 10 would be the absolute maximum and less is better. I only want to check and look after so many accounts. Checking and tracking 50 accounts would require too much time and effort I could be using on something else.

But some people really enjoy having a lot of cards. That's fine too. For me the gain just isn't worth it. Honestly, I hope to end up with 4 solid cards and call it a day. Opening a bunch of basically redundant cards over time is something I think we have all done to some degree, and it can lead to regret.

[Anonymous]

---

@Anonymous wrote:

I check all my credit card and bank accounts every day. For me, that many cards would be way too much of a hassle. I've decided on 10 cards as my maximum, and sometimes I think that is too many.

---

Whew!! So I am not the only  crazy person who does this.  I feel much better!!   

[SunriseEarth]

---

@mgs2010 wrote:

Long story short - I have legit about 50 credit cards with limits from 300 on the low (Target - never ever a CLI) to NFCU $16,100 limit. Total limits among all lines is roughly 180k. Aside from juggling to make sure each card gets used before 12 months has passed, is there anything against this? My file is very, very lengthy between all of these open cards and cards from my past, auto loans, student loans, mortgage, etc. Sometimes I just want to simplify some and close some cards. Any tips?

---

It depends.  Some think 3 is too many and others think 100 isn't enough.   I would say that if you're having problems managing them, then it might be worth it to close some.  I would consider closing anything redundant, like cards with overlapping rewards programs.

[Anonymous]

I believe that the following breakdown works for me :

1. One or two rotating cashback cards - chase freedom/discover, for that 5% cashback in the respective category.

2. 1 stable cashback card - Either BOA cash rewards, citi DC, cap one QS or Chase unlimited.

3. One low APR card - Barclay ring or one from your local CU.

4. One dedicated airlines card for the airline you travel the most.

5. One new CC to meet that spending bonus and get those extra points/$$.

Anything more than this would require too much micro managing which I am not willing to do right now.  Maybe in about 40 years lol. 

[Broke_Triathlete]

---

@Anonymous wrote:

---

@Anonymous wrote:

I check all my credit card and bank accounts every day. For me, that many cards would be way too much of a hassle. I've decided on 10 cards as my maximum, and sometimes I think that is too many.

---

Whew!! So I am not the only  crazy person who does this.  I feel much better!!   

---

I do this as well. My fiance things I'm crazy for doing that. Well...maybe just a little

[Anonymous]

There's no such thing as too many cards.  Only too small of a sock drawer.

Chris.