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Established Member
perfectuniverse1
Posts: 80
Registered: ‎07-06-2010
0

Purpose of multiple CC's

Since being on the rd to recovery and very close to trashing my FP and OB cards,  I have been able to get a couple prime cards Chase Freedom 2300CL and CO CR 2000CL in the last couple of weeks.  This year I plan to get an NFCU CC and I was hoping a SWA Visa because I fly SWA a lot but Im not sure about that.   Maybe Ill come away from gardening in a few years and try to get an AMEX finally.  

 

Now that I have the ability to diversify my portfolio I wanted to know how do you all use your cards? I typically pay them off monthly so I dont usually make very large purchases.  I guess one would potentially use their best rewards card for most of their purchases and maybe their travel card for miles, maybe a certain card for restaurants etc.  But with splitting your purchases over so many cards, how do you rack up any solid number of rewards?  

 

Sometimes it seems easier to just get a really good card and use that only.  But then what happens to the other cards CL's? Will they be lowered because of non use?  Im just wondering because I see people with 10's of 1000s of $'s in credit card CL's over 9 CC's and Im wondering whats the purpose of it all? 

Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Purpose of multiple CC's

[ Edited ]

well you have a nice stack of cards already. if i were you if you have a chance in with navy federal i would do it like right now! also their rewards are so so but the credit limit will be ridiculously high. I plan to apply for their platinum card which has no rewards but lower apr (as low as 7.99) in case i ever need to carry a balance. do you have a chase checking account? are you planning on doing the chase combo or chase trio as they call it? What card CO are you talking about im running the list in my mind lol and cant figure it out. Honestly I think one of the best rewards cards out is the amex bcp but i think its the hardest to get. others will chime in and give opinions

 

edit. i edited the response cause i re read your post and really didnt answer your questions. people with 10 cards with low limits have what they call the "app itch" most have it some dont. its simple if you dont need credit dont apply for it. like i stated earlier my goal is to get a navy plat. card low apr zero rewards in case i need to carry a balance. chase freedom has nice quarterly bonuses. chase southwest is good for travel, there might be better ones though. and well pick a nice fuel card.

 

 

 

 

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
New Contributor
r34dy2fly
Posts: 104
Registered: ‎03-14-2012
0

Re: Purpose of multiple CC's

I personally use all of them depending on if I'm working or if I'm just out and about except for my USAA. I highly doubt USAA is every going to lower my limit even if I don't use it so I don't worry about them much.

 

Chase = Work

Discover = Backup Balance Transfer card.

AMEX Platinum = Flights

AMEX SPG = Personal

USAA = Non-use

 

Every now and then I'll rotate the uses between the Chase card and SPG to even out usage but generally this is how I roll. I have two wallets as well to separate the two.


AMEX Platinum EMV - AMEX SPG - Chase Sapphire Preferred EMV - Chase Sapphire - Chase Slate - Discover IT - Fidelity Investments EMV - USAA World MC EMV - USAA Rate Advantage Platinum MasterCard

Last App 07/21/2014 / Chase --- Garden till at least 07/21/2016. --- EQ 771 / EX 789 / TU 788
Established Member
perfectuniverse1
Posts: 80
Registered: ‎07-06-2010
0

Re: Purpose of multiple CC's


rootpooty wrote:

well you have a nice stack of cards already. if i were you if you have a chance in with navy federal i would do it like right now! also their rewards are so so but the credit limit will be ridiculously high. I plan to apply for their platinum card which has no rewards but lower apr (as low as 7.99) in case i ever need to carry a balance. do you have a chase checking account? are you planning on doing the chase combo or chase trio as they call it? What card CO are you talking about im running the list in my mind lol and cant figure it out. Honestly I think one of the best rewards cards out is the amex bcp but i think its the hardest to get. others will chime in and give opinions

 

 


Well because I dont have an income I cant get the NFCU yet.  Im a full time student and will get it this summer when Im working.  Are you saying people are better off getting the card sooner than later if possible? If so why are you saying that?  I hope they wont be less generous with CL in a couple of months.  I do have a chase checking account.  Im not sure sure what you mean by the trifecta however. lol.  please educate me.  Sorry I have the CO cash rewards platinum.

Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Purpose of multiple CC's


perfectuniverse1 wrote:

 

 


Well because I dont have an income I cant get the NFCU yet.  Im a full time student and will get it this summer when Im working.  Are you saying people are better off getting the card sooner than later if possible? If so why are you saying that?  I hope they wont be less generous with CL in a couple of months.  I do have a chase checking account.  Im not sure sure what you mean by the trifecta however. lol.  please educate me.  Sorry I have the CO cash rewards platinum.


im sorry now i remember you. usually i respond late at night lol. usually people say join navy now like right now well you want to build a relationship with nfcu. i dont think it matters if you get the card now or in the summer prob will be better cause your accounts will age a little you might get a small score bump thus increasing your chances of a higher limit again this is just my guess but i see it all the time. the chase trifecta lol is the checking accout with chase freedom and chase saphire preferred. usually its a hot topic there was a post not too long ago on how to properly use it seems interesting

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Member
perfectuniverse1
Posts: 80
Registered: ‎07-06-2010
0

Re: Purpose of multiple CC's

aah.. wont be getting a chase sapphire.. lol.. def dont qualify for one and probably wont be able to get approved for at least 5 more years when all my sallie mae lates fall off... yeah the NFCU hopefully will be better after the account has aged.. "aged" seems kind of strong but 3 months from now with 3 direct deposits going in.  Hopefully that will make a difference.  I really would like that CL to be $10k.  I know thats probably wishful thinking, but we shall see.

Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Purpose of multiple CC's

well whats your credit profile look like? it cant be that bad if you have a chase freedom card. lol i know i asked this once but what is a CO card?

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Member
perfectuniverse1
Posts: 80
Registered: ‎07-06-2010
0

Re: Purpose of multiple CC's

[ Edited ]

CO is capital one.  Well lets see..   EX 656 TU 633 EQ 664... I have 11 sallie mae derogs.  8 90 day lates and 3 120+ day lates...most of these were in 2009 with one being in 2010...  ..  and a verizon charge off (oct 2009) which was fraud that I paid anyway and I wrote a letter to the CEO of verizon last week so well see if he helps me remove it.

 

util: 20%  I pay in full each month.  I shoud be better about catching them before the report.  

 

Ive had 2 FP and one Orchard for 3 yrs, never late, $1300 CL total between the 3.  I applied for a barclays last friday but was denied, hoping I can recon tomorrow. 

 

$128k current debt.---med school and counting :smileysad:

Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Purpose of multiple CC's

so youve had credit for the last 3 years yes? im surprised chase approved you but thats good. barclays prob denied you for too many inquiries. you should prob stop applying for anything and when the time comes in the summer and your working if your up to it get in with navy then stop applying again for the next year. if you keep applying and getting denied your just digging a deeper whole. congrats on your success though and work on good willing those lates if you havent already

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Member
perfectuniverse1
Posts: 80
Registered: ‎07-06-2010
0

Re: Purpose of multiple CC's

Yes Ive only had CC's for 3 yrs.  You are me both are surprised about chase! lol.  IDK if it has anything to do with me having a chase checking account.  Barclays pulled my TU which I only have 2 inqs: Cap one recently and my old apt from june '11.  Im sure it probably has to do with all the lates.  Hopefully its maybe just the charge off because I have a letter from verizon stating they are having it removed.  It might be dated march 2010, lol but they said it and Im trying to hold them to it.    If its just that I can explain and send them the letter.  


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