topic Re: Anyone reach the point where their CC portfolio is complete? in Credit Cards

Anyone reach the point where their CC portfolio is complete?

Kendro — Wed, 25 Jul 2012 01:14:26 GMT

I see a lot of posts where people will go on app sprees or resist the urge to app. But is there anyone who has just about every card they need?

I think I'm well entrenched in Primeville with an AMEX BCE, Chase Freedom, Discover More, and a Banana Republic Visa. The BR card isn't exactly prime but I opened it on a whim when I was younger and don't want to close it. It also comes in handy when I shop at BR.

I am now at a point where I could probably have one more card (possibly a Citi Dividend Platinum Select or BankAmericard Cash Rewards card). After that, the problem is that I only have so much disposable income since I'm not a millionaire. So it doesn't exactly make sense spreading X amount of dollars over a ton of cards. For example I can get an AMEX charge card, but why pay an annual fee when I get the same protection on my BCE and the same amount of points? Doesn't make sense to me.

Anyone else nearing the point where they just don't need another card?

Re: Anyone reach the point where their CC portfolio is complete?

Anonymous — Wed, 25 Jul 2012 01:17:42 GMT

I just want one more card, a Chase Sapphire Preferred. I don't want a whole bunch of cards, I'll be content with 4. I'll probably apply for that around December-February then after that I'll be good to go.

Re: Anyone reach the point where their CC portfolio is complete?

Anonymous — Wed, 25 Jul 2012 01:22:42 GMT

I have reached that point and I will not be applying for cards anytime soon. Unless... Amex sends me a Centurion application.

Re: Anyone reach the point where their CC portfolio is complete?

injustifiiable — Wed, 25 Jul 2012 01:25:41 GMT

I wish.

I only want five or six really good cards in the end.

AMEX Zync or other charge since balance wouldn't factor into Util

Chase Freedom

BankAmericard Cash Rewards

The others I want I would keep SD'd most of the time:

Discover More

Walmart Discover

Some Citi product that probably won't get much use since TY rewards suck.

Re: Anyone reach the point where their CC portfolio is complete?

DaveSignal — Wed, 25 Jul 2012 01:25:57 GMT

I've got all the cards I need.

Both USAA Rewards and NFCU rewards cards.... My main USA cards. I use them both, but I don't really even need both of them. They serve the same purpose.

BankAmericard Travel Rewards... includes EMV chip and 0% foreign transactions. All I need for overseas.

Military Star... for on-base military promotions and discounts.... I hardly use this card, but save it for Christmas-time.

Target Card... for 5% off at Target.... I don't need this card anymore as there are no Targets where I am going to be living for the next 3 years.

Capital One... 0% foreign transactions, but I already have this on the BoA Travel Rewards, so I don't use this card at all.

HSBC Rewards... I don't use this card at all.

Citi Goverment Travel... for Official travel

Bill me Later.... invisible credit line for no interest eBay deals

I definately don't need anything else. I am awaiting a recon to be determined tomorrow for an SDFCU EMV chip and pin visa. Whether I get that or not, this will be the last card application for me for a long time.

Re: Anyone reach the point where their CC portfolio is complete?

searchingfor67 — Wed, 25 Jul 2012 01:26:26 GMT

Almost complete. My last objective is a Penfed Cash Rewards card, and probably a Lowes card when I close on my house in a couple of years. Other than that, I'm trying to resist the urge to apply for anything else...although I've been fighting a loosing battle lately I was approved for a CSP and USAA World MC in April of this year. And most recently, a Citi Foward about a week ago, and a Barclays NFL card this past Saturday. I'm done for now...

Re: Anyone reach the point where their CC portfolio is complete?

Cdnewmanpac — Wed, 25 Jul 2012 01:37:12 GMT

I'm done applying for new cards. I may try to pc my southwest RR card to csp (if even possible) next year and my usaa rewards card to their low interest card, but I won't be adding tradelines. Plan to cut cap1 in December, then stick with: Amex zync, Hilton surpass, chase sw RR, usaa world mc, discover more (which I will sd until they close or maybe a bt offer comes along). Instead, will focus on growing cls.

Re: Anyone reach the point where their CC portfolio is complete?

webhopper — Wed, 25 Jul 2012 02:09:16 GMT

I'm done with cards. I want navcheck and then I'm done with apps

Re: Anyone reach the point where their CC portfolio is complete?

Anonymous — Wed, 25 Jul 2012 02:12:33 GMT

@Anonymous wrote:
I have reached that point and I will not be applying for cards anytime soon. Unless... Amex sends me a Centurion application.

I have been there twice in my life both periods over 10 years. Unfortunately both were ended with some sort of financial disaster (BK or CO). Expect to be there again in about 3 years ( all CO gone from CR).

Re: Anyone reach the point where their CC portfolio is complete?

CreditScholar — Wed, 25 Jul 2012 02:31:57 GMT

I'm almost finished. At this point I'm looking for 1-2 more cards (hotel cards) and that's it.

One will be the Chase Hyatt card, since Hyatt is my primary hotel chain. The second will be the JPM Ritz Carlton card or the new Citi Hilton Reserve. In the areas where there isn't a Hyatt, it's good to have a second chain (Hilton or Marriott) as a backup.

After these 2 I'll be finished for quite awhile, and if something better does come out I'll swap one card for another. I definitely don't want to have to deal with a plethora of cards.

Re: Anyone reach the point where their CC portfolio is complete?

searchingfor67 — Wed, 25 Jul 2012 02:37:00 GMT

@CreditScholar wrote:
I'm almost finished. At this point I'm looking for 1-2 more cards (hotel cards) and that's it.

One will be the Chase Hyatt card, since Hyatt is my primary hotel chain. The second will be the JPM Ritz Carlton card or the new Citi Hilton Reserve. In the areas where there isn't a Hyatt, it's good to have a second chain (Hilton or Marriott) as a backup.

After these 2 I'll be finished for quite awhile, and if something better does come out I'll swap one card for another. I definitely don't want to have to deal with a plethora of cards.
WhenWhen I started this journey 10 months ago, this was exactly my mindset...I only wanted 4 cards max. I applaud your diligence!

Re: Anyone reach the point where their CC portfolio is complete?

AndySoCal — Wed, 25 Jul 2012 02:44:29 GMT

I have reached that point with seven cards. My last one was a US bank Cash+ card. There is not a credit card out their that interests me.

Re: Anyone reach the point where their CC portfolio is complete?

heirophant — Wed, 25 Jul 2012 03:24:34 GMT

I thought I was done with my Bank Americard Travel Rewards Card after my app spree at the beginning of the month. Got BECU CLI from 1k to 10k, approved for Citi Forward, US Bank Cash+, and finally BOA Travel Rewards. Then I decided I needed one more low-interest rate card. So, I went down to my local CU, AlaskaUSA FCU (who I also have a mortgage through), and got it. Now, the journey is complete for years to come. A couple will close before AF hits. A couple will eventually just close by themselves as I have no plans to use. I couldn't be happier after my app spree at the beginning of the month. I think its no coincidence the two highest CL's and best interest rates I have are through CU's.

Re: Anyone reach the point where their CC portfolio is complete?

Anonymous — Wed, 25 Jul 2012 03:48:05 GMT

@Anonymous wrote:
@Anonymous wrote:
I have reached that point and I will not be applying for cards anytime soon. Unless... Amex sends me a Centurion application.

I have been there twice in my life both periods over 10 years. Unfortunately both were ended with some sort of financial disaster (BK or CO). Expect to be there again in about 3 years ( all CO gone from CR).
.

You had a Centurion twice?

Re: Anyone reach the point where their CC portfolio is complete?

jsickz32 — Wed, 25 Jul 2012 03:54:31 GMT

no! i want a chase CSP, amex SPG and costco card! that will be the day...

Re: Anyone reach the point where their CC portfolio is complete?

HenryJumbo — Wed, 25 Jul 2012 04:21:30 GMT

I'm just about done and I have only 3 cards.

1st card: Capital One Cash Rewards for Newcomers.*

2ndcard: Chase Freedom

3rd card: Blue from American Express**

*I’m eventually going to drop the cap1 card as it was my first card and cl stuck at $750.

** Will PC to Blue Sky from American Express as I don’t see the point in getting BCE when I have Freedom.

All I want is 1 card for everyday shopping (Freedom) 1 card for travel and hotel (Amex Blue Sky) and 1 later on with a very low apr.

I was also thinking about the Discover More but once again I have a Freedom so pointless. Anyone recommend a card that offers a low apr? (I don’t care about rewards, or perks).

Re: Anyone reach the point where their CC portfolio is complete?

Anonymous — Wed, 25 Jul 2012 08:10:53 GMT

@HenryJumbo wrote:
I'm just about done and I have only 3 cards.
1st card: Capital One Cash Rewards for Newcomers.*
2ndcard: Chase Freedom
3rd card: Blue from American Express**

*I’m eventually going to drop the cap1 card as it was my first card and cl stuck at $750.
** Will PC to Blue Sky from American Express as I don’t see the point in getting BCE when I have Freedom.

All I want is 1 card for everyday shopping (Freedom) 1 card for travel and hotel (Amex Blue Sky) and 1 later on with a very low apr.
I was also thinking about the Discover More but once again I have a Freedom so pointless. Anyone recommend a card that offers a low apr? (I don’t care about rewards, or perks).

Depending on your profile the Amalgamated Bank of Chicago Gold or Gold Plus Mastercard is about the best option. Def a prime card though.

Re: Anyone reach the point where their CC portfolio is complete?

TiggerDat — Wed, 25 Jul 2012 10:48:13 GMT

Yes, No, and Maybe.

Yes. I have reached the point where it is much easier to get a card with higher limits. I would not have needed to do this if Capone had given me even small increases. Had they simply triple my little toy limit with them over the course of 2 years, I would have been happy. They did and would not, so I went on a little app spree and was approved for 4 out of 5 cards I applied for. I did add some just for sake of reporting as I have no intention of using them. Two of these were department store cards. Two were Visa cards with much better limits than Capone. Capone did not have to give me as much as they did, they just had to give me something! I closed one of my Capone accounts due to this issue last month. So yes, I have more than I need and am pretty happy with it.

No. I would like to have a card with a higher limit, rewards, and with no annual fees. Currently, I pay two annual fees. One I will continue to pay for another year or two. (Merrick) For the other I will only keep it open when the AF is due, if my credit limit is $2,500 by that time and I will ask them to waive the fee. (Capone) After that I will close the card if they don't alter the terms and conditions.

Maybe. If I get the card from ChaseI applied for, I will be more than happy. I don't care at this point if they give me a low limit, but not too low I hope.

Re: Anyone reach the point where their CC portfolio is complete?

iMacDrew — Wed, 25 Jul 2012 11:29:38 GMT

nope but almost, im def. gonna keep the nfcu flagship sig visa, chase sapphire, keep the amex blue cash pref., probably just keep the Zync for my charge card because the green or gold dont appeal to me, I will definitely get rid of the Barclay Apple card after a year, and prob the Discover more.

The next card will probably be a travel or hotel card and then I should be set!

Re: Anyone reach the point where their CC portfolio is complete?

thom02099 — Wed, 25 Jul 2012 11:49:56 GMT

That would be me! I've got what I wanted in the way of credit cards. I could expand the list (in my signature) but I'm satisfied with what I have...$70K in credit available IF I NEED IT! All a matter of managing it responsibly, if one gets too much credit, it can be a challenge to effectively manage it.