Why so many credit cards? What is the benefit

[Anonymous]

I do it just to have them.

I like High Credit limits for severe emrgencies though

[Anonymous]

Another reason I keep accounts with different banks is to protect myself against the credit market freezing again. If I already have established cards, I won't have to apply for new ones and can just utilize the ones I have.

[IWOL]

I just wanted to add that one benfit of having a lot of accounts is that it builds a  thick file.

After the accounts have aged a few years, if you add additional cards or loans they will have minimal impact on your AAoA. If you have only 2 or 3 cards and you add 2 new ones 5 years later that can really zap your AAoA.

[Anonymous]

Because I can

[Open123]

Ah, mainly becuase (1) benefits, (2) rewards, and (3) it's fun!

[ddemari]

I have 26 credit cards, which is a lot more than most people i know. I have zero problems using my cards enough to keep them active and reep benefits. But a lot of people get flustered having to keep all of that organized, i oddly enjoy it. But i think the reason i have so many cards, like others have said... Is because i can

[Anonymous]

I like it! Do what you want in life!

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@Anonymous wrote:
Because I can

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[lolabelle]

I'm curious to know how you people with so many credit cards manage to have super high credit scores. My scores are great, utilization is optimal, AAofA is almost 9 years (thanks in part to super old student loans that won't be paid off for ages). I have 8 credit cards, around $80K CL total, and would love to get up to $100K and take advantage of some app bonuses, but am living in fear of tanking my score.

[Anonymous]

Thanks everyone...Very interesting responses....

My favorite responses

1. Because I can

2. For emergencies

3. In an event of credit freeze due to a downturn in the economy

Here is why I would do it.  I would think that it would help my utlization but what do I know, I am just trying to paydown and keep my utilization low with the hopes that my score will continue to rise.

[mitchblue]

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@lolabelle wrote:
I'm curious to know how you people with so many credit cards manage to have super high credit scores. My scores are great, utilization is optimal, AAofA is almost 9 years (thanks in part to super old student loans that won't be paid off for ages). I have 8 credit cards, around $80K CL total, and would love to get up to $100K and take advantage of some app bonuses, but am living in fear of tanking my score.

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If you look, some with many many CC's don't have super high credit scores.