topic Re: Carrying too many cards in Credit Cards

Carrying too many cards

red259 — Sat, 17 Jan 2015 07:58:01 GMT

So tonight with the addition of recently aquired credit cards I noticed that I am having a hard time picking out the card I want to use when at the counter. It takes forever to find the right card in my wallet (I have no idea why I insist on carrying some of these cards around because I know I am not going to put charges on them). Somehow my card count got away from me and I have 11 personal cards and 1 business card in a little over a year and a half. I will be closing some of these cards over the next 2-3 months, but it is kind of stressing me out in the meantime. Anyone else feeling uncomfortable with the number of cards they currently have open?

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 08:02:51 GMT

Choose 3 for daily rotation and SD the rest. Your wallet is getting too heavy.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 08:10:21 GMT

I currently have 15 cards. 6 are in my wallet and the other 9 are kept in the house. Most of these 9 cards will be closed before their AFs hit and as they close I will have new cards with sign-up bonuses to replace them. 6 cards is a good number for my wallet given the cards I currently have.

I could probably get away with carrying 3 cards in my wallet since I rarely use the other 3 anyway. Most of my spend is on my CSP (~$2k a month on restaurant/travel), followed by Sallie Mae (~$500-700 on Amazon, $200 on gas, and $200 on groceries), and the rest on my Citi Double Cash (non category spend usually around 1k). I occasionally go to Costco so the Amex TE card is something I carry around, but I usually plan Costco trips in advance so I could probably swap it out. I also carry 1 sign-up bonus card with me, but I technically have none right now since I am gardening and my 5k+ monthly spend quickly handles those. I also carry my local CU card just in case because it is low interest 50k limit. I don't use the CU card but it is there just in case, Most of my other cards just stay at home.

Look at your expenses and the cards you need to optimize rewards and carry those cards. I could get away with 3 cards, but I carry more. Even if you value the CSP less than I do (I value UR points over 2 cents per dollar making it a 4%+ travel/rest card for me) and use alternate cards you can still pretty easily manage with 5 cards or less in your wallet. Just because you have 11 cards does not mean you have to carry them everywhere

Re: Carrying too many cards

red259 — Sat, 17 Jan 2015 08:20:49 GMT

@Anonymous wrote:
I currently have 15 cards. 6 are in my wallet and the other 9 are kept in the house. Most of these 9 cards will be closed before their AFs hit and as they close I will have new cards with sign-up bonuses to replace them. 6 cards is a good number for my wallet given the cards I currently have.

I could probably get away with carrying 3 cards in my wallet since I rarely use the other 3 anyway. Most of my spend is on my CSP (~$2k a month on restaurant/travel), followed by Sallie Mae (~$500-700 on Amazon, $200 on gas, and $200 on groceries), and the rest on my Citi Double Cash (non category spend usually around 1k). I occasionally go to Costco so the Amex TE card is something I carry around, but I usually plan Costco trips in advance so I could probably swap it out. I also carry 1 sign-up bonus card with me, but I technically have none right now since I am gardening and my 5k+ monthly spend quickly handles those. I also carry my local CU card just in case because it is low interest 50k limit. I don't use the CU card but it is there just in case, Most of my other cards just stay at home.

Look at your expenses and the cards you need to optimize rewards and carry those cards. I could get away with 3 cards, but I carry more. Even if you value the CSP less than I do (I value UR points over 2 cents per dollar making it a 4%+ travel/rest card for me) and use alternate cards you can still pretty easily manage with 5 cards or less in your wallet. Just because you have 11 cards does not mean you have to carry them everywhere

Yea, there are a couple that should just stay at home. I have to carry several at the moment because I am in the middle of meeting min spend and then there are my bonus category cards, but I just removed four from my wallet that I will not have a reason to use in the immediate future my PRG (I'm closing it as soon as I pay off the balance), My Citi AA exec (going to close it when AF is due in a month or two and its rewards are not worth spend), my Venture (the barclays arrival+ will replace this), and my BCP (soon to be downgraded then subsequently closed because the everyday replaces it).

Re: Carrying too many cards

red259 — Sat, 17 Jan 2015 08:33:29 GMT

I was going into the garden until April (90 days), but now I am thinking of waiting till the end of June instead.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 09:13:59 GMT

I carry 4, but I always make sure my daily spending card is up front (or if I know I'm going somewhere with a revolving 5% category from Discover or Chase then that card will be right behind it)

Re: Carrying too many cards

kdm31091 — Sat, 17 Jan 2015 09:14:00 GMT

I have 6 and some days I feel like that is too many. It's just that I don't know what I would really get rid of this at this point, but I'll always have it in the back of my mind. Eventually I want to have 4 and no more than that. If I get something new in 2016, something older will have to go. I don't want to have more than 6 open accounts. It's too much for me. And the issue at checkout is kind of embarassing haha

Re: Carrying too many cards

Chris679 — Sat, 17 Jan 2015 18:39:35 GMT

@Anonymous wrote:
Choose 3 for daily rotation and SD the rest. Your wallet is getting too heavy.

Same here. Citi Forward and Double Cash almost always, rotate the third one.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 18:51:12 GMT

Why close any? Just SD them if no cost to you.

Solution: Carry your spend bonus cards and one LOW APR card just in case.

Re: Carrying too many cards

kdm31091 — Sat, 17 Jan 2015 20:28:01 GMT

The SD vs closing debate is eternal, but in favor of closing I say some people just don't want to manage all the accounts, no matter how little the level of "management" really is. On the pro of SDing you get to keeep the account for util purposes. For me personally a SD card won't really work, it will be in the back of my mind that I have to keep an eye on it, and to me the benefit isn't worth it.

To each their own, I will not exceed 6 cards though.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 20:49:20 GMT

You just need to order a more suitable wallet. This keeps 10 of my most frequently used cards with me at all times, underneath I have my Priority Pass membership card, personal debit, and business debit card. The rest are in the gun safe.

Re: Carrying too many cards

kdm31091 — Sat, 17 Jan 2015 20:51:54 GMT

That's a nice wallet, it just overwhelms me to look at. I could never have so many. lol

But it is a good idea for those with many cards!

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 20:53:11 GMT

Nice wallet!

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 20:55:41 GMT

I am 6'4" or 6'5" so to me it is a normal size wallet, proportionately speaking.

Re: Carrying too many cards

chalupaman — Sat, 17 Jan 2015 20:57:45 GMT

I really need a new wallet and that is sure a nice one. How much did it cost you?

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 20:59:36 GMT

I too carried the majority of my cards in my wallet all the time, but since my operation, I had to cut down the size of my wallet and now pick the 4 most useful cards to me to carry.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 21:02:54 GMT

@chalupaman wrote:
I really need a new wallet and that is sure a nice one. How much did it cost you?

It was only $20 bucks or something. I think I bought all of them in all the colors when I found them on Amazon. They may have made more by now. The style of wallet that holds lots of card, 8-12 card slots is called a hipster wallet. Not skinny jeans hipster, btw. This particular item was significantly reduced in price, I think it originally retailed for $120. The company is called 'Hammer & Anvil' from Los Angeles. Just search either Hammer & Anvil or hipster wallet on amazon. There are other brands that make the hipster style wallets, they're quite common.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 21:03:47 GMT

@Anonymous wrote:
I too carried the majority of my cards in my wallet all the time, but since my operation, I had to cut down the size of my wallet and now pick the 4 most useful cards to me to carry.

You had an operation to remove cards from your wallet?! I hope I never have one of those.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 21:06:55 GMT

Lmao....no. I had a spinal fusion in Sept. and a large wallet in my back pocket can throw off my alignment.

Re: Carrying too many cards

Anonymous — Sat, 17 Jan 2015 21:08:27 GMT

@Anonymous wrote:
Lmao....no. I had a spinal fusion in Sept. and a large wallet in my back pocket can throw off my alignment.

Jeez man, that is a serious procedure. Glad you are doing alright now (I assume). Best not to carry a monster wallet then, that makes sense.