06-25-2014 11:43 PM
I just don't see a need for many cards. I get why some do since they are earning rewards etc, but for me it's just not what I want. I want one more card and then I'm done
06-26-2014 04:31 AM - edited 06-26-2014 04:33 AM
I have 7 but noticing that only 3 are getting regular use. I'm spending 20-40K a month on the three cards.
The rest are backup cards in case systems are down, not accepted, or emergency needs.
So the question becomes, "What's enough for backup?"
I would say 2 is enough for backup. That being said that makes 5 as optimal for me.
Apping for new cards isn't in my future unless apping will net at least $400 in signup bonus. Otherwise I suspect PCing and AUTO CLIs will be my new best freinds for a long while.
* I just realized that apping for new AMEX cards can increase your AAoA.
* Reward cards are less meaningful for me unless I can earn at least $200 from spending per month. This means my Barclays, BOA, and Chase Slate are on in line to be chopped.
06-26-2014 07:17 AM - edited 06-26-2014 07:19 AM
I just want to see how many credit cards people have and what your current fico score is.
I have 22 credit cards (16 are store cards for the discounts) and the ONLY one that I'm considering letting go of is my Credit One Visa. According to MyFICO, my Equifax score is currently 632 (Equifax is consistently the lowest of the three which is why I track it). I went on a MAJOR App Spree in March, which is why I'm in the Garden until June 2015. At that time I'm going for a USAA WMC and AMEX BCE and then I'm DONE.
06-26-2014 07:30 AM
06-26-2014 08:17 AM
I currently have the five in my signature. I eventually plan to add one more card in a year or two once I have graduated and am working. The 5% cards (It, Freedom, and Dividend) get swapped in and out of my wallet depending on the bonus categories on each one. My Amex is used for groceries and gas while my Navy Fed card is my primary spend card. The card I eventually plan on getting would be for restaurants and travel.
06-26-2014 08:36 AM
Honestly way too many... Chase Sapphire Preferred, Amex Gold Premier, Amex BCE, Citi ThankYou Preferred, CapitalOne Journey, American Eagle Visa, Old Navy Visa, Discover IT, A&F store card, AE store card (because they didn't consolidate the two accounts for some reason...), a credit line with BillMeLater, and an Amazon store card. So eight "regular" credit cards and three store cards that I really don't use.
I have them all because I like them, though.
06-26-2014 09:05 AM
This thread prompted me to count, I currently have 36 (4 are store cards, plus a few co-branded store cards). I had 37, but Jared closed my account this month due to lack of activity.
My scores range from 775 - 814. My AAoA is 5 yrs, with 20 years of history.
I don't get dinged on score for too many CC accounts, but have beent thinking about closing/consoildating a few. Jared was one I was going to close, but they beat me to it, lol.
06-26-2014 10:04 AM
07-02-2014 04:22 PM
Six open cards:
5 CC's - 1. Amex, 3 VISA, 1 MC
1 charge card - Amex Platinum
2 closed cards:
1 Discover Card
FICO 08 Scores: EQ 850, EX 850, TU 850
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO