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why so many?

tag
Arago
New Contributor

Re: why so many?

Because banks and credit unions are not all equal in service and products. Some banks and credit unions will benefit you much more than others. Your job is to find out which those are. Amex can be a nice card to have but they have to pay for their advertising and slick card designs by charging many customers very high interest rates and fees.
Message 11 of 16
CreditScholar
Valued Contributor

Re: why so many?

Different cards serve different purposes. In some cases, each card in a person's wallet will be better at earning points in certain categories. For others, each card will provide a different set of perks/benefits. For mine:

 

CSP:

* Travel, dining & UR Purchases

* no forex

* Visa

 

United Club:

* All general spend (1.5 miles per dollar)

* United and Star Alliance lounge access

* United perks (priority checkin, 2 free bags, etc.)

* Hyatt Platinum & Avis First

* Primary CDW

* WEMC

 

JPM Ritz Carlton:

* First 10k in annual general spend for Ritz & Marriott gold status

* Lounge Club for non *A lounges

* $200 unrestricted airline credits annually

* Ritz-specific benefits ($100 hotel credit per stay, 3 annual club level upgrades, etc.)

* EMV Chip

 

BofA Privileges:

* Just in case something happens with Chase I'm not totally screwed

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 12 of 16
knoregs
Established Contributor

Re: why so many?

OP...  haven't you noticed the pleasure members get from apping and being approved? Smiley Wink

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Message 13 of 16
odd_dog
Valued Contributor

Re: why so many?

LOL!!!!  You LIKE me ...... You REALLY like me!!!  LOL

Message 14 of 16
thom02099
Valued Contributor

Re: why so many?


@knoregs wrote:

OP...  haven't you noticed the pleasure members get from apping and being approved? Smiley Wink

 

~kn


Ahhh yes....the Thrill of the Hunt ! ! ! ! Smiley Very Happy

Message 15 of 16
WunderCard
Established Member

Re: why so many?

Never saw the need for a vast portfolio myself.  Just more uncessessary life clutter to keep track of in my book.  AMX BCE, Discover It, and my local CU Visa cover most of my rewards needs.   And on a personal note, when it comes to credit nightmares, count me in the "Been there, Done that" crowd.  22k in available credit is MORE than enough potential trouble for me to get myself into.  I don't need anymore.  I use credit sparingly these days, and only when it will benefit me.  

Message 16 of 16
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