@yfan wrote:
@sillykitty1 wrote:
"There's absolutely no reason to have 5 or 17 cards with a single lender unless you're a gambler"
Well, I'm definitely not a gambler, and I have 4 Chase cards and plan to add the CSR to make my total 5. I will have 5 eggs in one basket, because Chase credit cards are the most rewarding for my spend. I spend HEAVILY on airfare, car rental, Marriott and dining. Not only are UR's very valuable to me, the benefits of these Chase cards are as well, primary car rental, trip delay etc.
"that thinks you'll be fine."
I'm very confident I'll be fine. I use my credit responsibly. I have a long & well rounded CR, high scores. I put a lot of spend through Chase, and pay them, in full, every month. Why on earth would I not maximize the rewards and benefits because of some unfounded fear that it might make Chase mad?
Having any credit card can be characterized as a gamble - in that you do not have 100% certainty that the lender won't close them out even if you are in "good standing". That risk increases with the number of cards for any given person. That's just statistics. You may be individually fine, and you may well be responsible in your credit use. But whether a lender will close out your cards doesn't depend on your idea of responsible credit use; it depends on theirs. And their idea of responsible use may not be limited to how you use their credit cards alone - it may well include your use - or even number - of cards from other lenders.
I said I'm very confident I'll be fine, not that I'm 100% certain. I wouldn't define something as low risk and common as "having any credit card" to be a gamble. By that definition, what in life wouldn't be a gamble?
I get that it is about statistical risk, and not my personal credit behavior. My point was to dispute the statement "There's absolutely no reason to have 5 .... cards with a single lender unless you're a gambler that thinks you'll be fine.", by giving an example of where having 5 cards with a lender isn't inherently risky behavior. I stand by my belief that by having a thick, stable & spotless CR, low utilization, and a history with a lender of high spend and PIF, that puts me as a statistical low risk to that lender.
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