@kdm31091 wrote:
@grillandwinemaster wrote:
Maybe I should have at least 4 cc's, meaning one from each major. Discover, MC, Visa and Amex. Funny how nobody mentioned my lack of having an Amex, but the fact that I was missing representation from Visa certainly raised some thought provoking conversation.
...There's really, IMO, very little real reason to collect a card from each network just for the sake of it. If there's an Amex that suits your spend and needs anyway, sure, that's fine. But there are very very few occasions where network really matters, especially here in the US. Visa/MC are interchangeable 99% of the time (exceptions are things like Costco), and having just those two will get you by just fine. Discover and Amex have the lower acceptance rates and again, I don't think they are necessary unless they otherwise suit you. You don't have to have an Amex to have a well rounded set of cards and build history. Try not to fall into a "collection" mentality with cards, as you will end up with cards that sit in a drawer unusued because they have such a small, specific purpose.
Excellent advice! I really don't want to get into "collecting" credit cards. Although it reminds me of my childhood, collecting baseball cards. So for at least the next foreseeable 5 years, I will probably go without an Amex. I think I still have to look into a good Visa for the above mentioned reasons. Too bad that Barclays and Cap1 are BOTH mc's!
