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I don't know this for sure, but I can't imagine card network diversity matters very much, if at all. Card issuer diversity can matter a bit, but mostly to make sure you aren't putting all your eggs in one basket in case a particular bank decides you are too much of a risk for whatever reason and kills your limits and/or closes your accounts. Amex and Discover are also issuers, so there's certainly no harm in diversifying with one or both of them, but having all your cards at Capital One or Chase, for instance, is more of a problem.
That said, each network has its own pros and cons. So, get the cards you want based on what they offer, including the issuing bank and card network benefits.
@Anonymous wrote:
Visa
Mastercard
Amex
Discover
Do you have at least one of each? If not, which are you missing?
I have a Visa by way of a local bank card backed by Elan, and a Quicksilver Mastercard. That's it so far. I want an Amex BCE next, so would there be any benefit to having a Discover too? I like the Chase Freedom revolving categories better than the Discover It categories, but I'm wondering if I should get an It card to have all four for any decent reason. Does it help in building a more well-rounded profile or increase your score to have them all?
Short and sweet... Yes... Visa (many), MC (more than a few), AmEx = 2 (one actual, one co-branded AmEx network), Discover, just one, but that's all I need.
I have 3 of 4.
Discover It
Bank of America Cash Rewards (Visa)
Capital One QuickSilverOne (MasterCard)
(I have another MC and Visa but they aren't solid rewards cards and won't be long-lasting either).
And a smattering of store cards.
No AMEX yet. Maybe one day, when my profile supports it.
@Anonymous wrote:
Visa
Mastercard
Amex
Discover
Do you have at least one of each? If not, which are you missing?
I have a Visa by way of a local bank card backed by Elan, and a Quicksilver Mastercard. That's it so far. I want an Amex BCE next, so would there be any benefit to having a Discover too? I like the Chase Freedom revolving categories better than the Discover It categories, but I'm wondering if I should get an It card to have all four for any decent reason. Does it help in building a more well-rounded profile or increase your score to have them all?
Like many members, I have all four, and then some. Discover is worth having: customer service is top-notch, and many do well with building their limits. I make use of the quarterly spend for 5% back. Third quarter this year was home improvement stores, so I got a decent amount back. Well-rounding profile or increasing your score?
I doubt it. Not everyone has all four to do well with their profile or scores, its what works best for you. Happy hunting!
@Anonymous wrote:
Visa
Mastercard
Amex
Discover
Do you have at least one of each? If not, which are you missing?
I have a Visa by way of a local bank card backed by Elan, and a Quicksilver Mastercard. That's it so far. I want an Amex BCE next, so would there be any benefit to having a Discover too? I like the Chase Freedom revolving categories better than the Discover It categories, but I'm wondering if I should get an It card to have all four for any decent reason. Does it help in building a more well-rounded profile or increase your score to have them all?
1 Amex BCE
1 Discover It
2 Mastercard
11 Visa
All Visa cards are sig. except two which are low interest...Mastercards are WEMC, and WMC. Do not know if it helps score, but doubt it.
I have Visa, Mastercard, and Discover. Years ago I had an Amex, but am not really interested in getting another. I find there's very little difference between Visa and Mastercard, and it's the issuing bank that mostly matters rather than the network. By contrast of course Discover and Amex really do matter both in terms of network and bank.
LOL, if anything my personal 'Big Four' would be something like Discover, Amex, Chase (Visa), and Citi (Mastercard). Or maybe instead of Citi, Capital One (although they issue both Mastercard and Visa).
I have three out of four. Have never gotten Discover. No reason other than I have enough credit cards and have the Freedom for category spend.