Why do you need so many credit cards?

[FinStar]

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@Open123 wrote:

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@FinStar wrote:

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@Open123 wrote:

And, in addition to the above, I just "like" credit cards.  I enjoy opening them, reading about a new rewards program, exploring a new online experience, and receiving bonuses/perks for partaking in the hobby.

For me, it's just a lot of fun to maximize rewards, both travel and cash.

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Open...you turned green!  Congrats on the new rank!    Sorry,, sidetrack

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LOL...thanks!  I should have officially turned "green" the moment I caught a glimps of your Black Fid Amex!

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Well, THAT green Fid AmEx was ...well, green.  It was said a while back by Lexie that it made her eyes bleed!  The color was definitely an interesting piece of conversation when people saw it.  As in, what spaceship did that card come from?   Now, the Black Fid AmEx gets different attention for those who have not seen the Centurion firsthand - just plastic (nice plastic of course) but no *clink*.  See, it bends!  Then, explain and tell people that my private jet broke down and I have to fly in the same plane with everyone! 

[Anonymous]

well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

[Anonymous]

i meant to say 14, not 13 sorry for typo. not like it matters much but yeah

[FinStar]

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@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

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We're all churners? Wow... thanks for announcing us!  It's interesting for individuals to make such quick judgements on other people's lifestyles when he has no clue about who we are.  Human first, of course.  Must be tough being 24?   Don't blame the player, blame the game! 

[Anonymous]

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@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

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Nice

I think the maximize-cashback approach is also realistic.

This is true and it does bother some people. It doesn't bother everybody though (definitely not me). I would still rather get the higher return. Nothing unrealistic about that. 

[Anonymous]

i didn't say it as condescending. i gave both pros and cons for it all. i don't understand what age has to do with anything lol. but okay bud. you win.

[myjourney]

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@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13  14 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

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Former churner huh Lol 

[Open123]

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@Anonymous wrote:
well, now that all the churners answered...

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LOL...Well, I, for one, don't mind being characterized as a "churner."  I've been accused of much worse in life.  However, I wouldn't be presumptuous to assume that everyone other person before you on this thread is a "true honest to God" churner.  If so, then I consider myself to be amongst exemplary company!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

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Nice

I think the maximize-cashback approach is also realistic.

This is true and it does bother some people. It doesn't bother everybody though (definitely not me). I would still rather get the higher return. Nothing unrealistic about that. 

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Right.  As in what which card will yield the most profit (cash back, miles, or discounts) to me.  If a store card offers 10% discount, with the ability to use extra discounts, that is a no brainer for me- no cashback or miles will compete.

[Open123]

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@myjourney wrote:

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@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13  14 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

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Former churner huh Lol 

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Pretty funny!  LOL