How do you guys handle having multiple cards?

[polaris2011]

---

@Anonymous wrote:
I’ve been using AZEO all year while waiting on my new home to close. (We closed on Tuesday) This month has been the first time I’ve had over a 700 credit score and the ability to get cards. I apped 3 this week so I’m trying to get some advice on how you guys use these cards. I believe at least 2 of these cards have those 3 months spend requirements so I wondered do people in this forum just swipe their credit cards for everything I typically used my debit card and cash for to meet these obligations.

---

Regarding CC bonuses, I just opt to pay all my bills (and sometimes I pay other people's bills too. I treat it like a small loan) with those cards. Between the basic necessities, I tend to hit those spends within the first month or two. Right now all of my cards still have 0% APR for several more months so my spending behavior will change in the future but, generally, I PIF each month, limit all my spending to 1-2 cards (one with a due date at the beginning of the month and one at the end or middle), never use my debit cards (CC offer more protection on what you buy and your money), only spend what I would've spent anyway, and I try to save money so if something major happens I don't have to resort to cards. 

Good luck!

ETA: I put my small, recurring bills (less than $20) on my cards that no longer have bonus spend offers/significant value other than their age and PIF each month.

[mdd0214]

I would not worry too much about keeping cards active. It seems to me that it is overstated here, but in general most people here are trying to open cards, increase lines, maximize rewards and scores. I've had cards that were not used for years and they weren't closed. Several of my old cards probably hadn't even been activated or used in 5+ years. Lenders didn't do a thing until I eventually closed them out. 

[Anonymous]

---

@Anonymous wrote:

Edit: never mind

I believe old man was referring to the actual data on his TU report making his tu more sensitive, meaning that his tu file is thinner because something isnot reported there.

---

My 3 CRAs are pretty much identical other than 1 extra HP (within last 12 mon) I mentioned above.

[kerplunk]

A different perspective: I don't understand the appeal of 20+ cards. Rarely will you see someone with that amount of cards having anything higher than a mid-700 credit score. I achieved an 800+ credit score with only 3 credit cards and 7 years of credit history. I now have 6 cards, keep 3 in my wallet, and only use 2 regularly. Simplicity is usually the best option.

I wouldn't mind getting rid of my U.S. Bank card and bringing my total down to 5, but it is the first credit card I had.

[simplynoir]

IMO having an 800+ score is overblown in this forum sometimes.

[Anonymous]

That was my initial point I was trying to make. I don’t know people outside of this forum that have high double digit amounts of cards so I was kind of astonished when I got here. Actually, I felt bad and felt that I had failed somewhere because I didn’t have a bunch of cards. I’m thinking, for me, somewhere around 5 cards will be my sweet spot.

[Anonymous]

@simplynoir

Why do you feel that way?

[kerplunk]

---

@simplynoir wrote:

IMO having an 800+ score is overblown in this forum sometimes.

---

While it is true that someone only needs a score of 760 or higher to achieve the same benefits as an 850 scorer, it is nice to have some wiggle room.

[SouthJamaica]

---

@Anonymous wrote:
Greetings MyFico’ers!
I joined this forum at the top of the year and believe I’ve learned a lot. Last year, my credit was in the tank and today I’m over 700 on each bureau.

What I noticed about people here that’s different than the people I know in real life is that most people around here seem to collect cards. Before I got here, I thought I only needed one good, high balance card for every thing. I see most of the popular posters here have around 20.

I just got 3 cards this week and now I’m wondering how can I use them properly. So my question to all of you is how do you use your cards? Do you just replace your bank debit card with one of your credit cards to earn points and cash back?

I’m trying to learn from the best.

---

You don't need more than one card, unless the one card is an Amex or Discover, in which case you should have at least one Visa or Mastercard.

Looking at your signature, if I were you I would ditch the Open Sky card, sock drawer the store cards, and alternate the Capital One and Amex cards.

[simplynoir]

---

@Anonymous wrote:
That was my initial point I was trying to make. I don’t know people outside of this forum that have high double digit amounts of cards so I was kind of astonished when I got here. Actually, I felt bad and felt that I had failed somewhere because I didn’t have a bunch of cards. I’m thinking, for me, somewhere around 5 cards will be my sweet spot.

---

Everyone is different and - I'm emphasizing this is a general statement and in no way directed at anyone - there's too much judgement when these types of posts get made on someone's reasoning for their small/large credit card portfolio. As with everything else in life what works for you might not for someone else. Posts like this pop up every few weeks it seems like and follows the same vain eventually. My viewpoint is as long as you're responsible with your credit I say go with the wind and do what you like.

And to answer your second question because I think it's unnecessary. There's no benefit to having anything above 750+ to get the best rates for most cards and loans. Mortgages are of course different and follow a guideline like clean reports for the year or two leading up to closing so that the exception to the rule. If it's a goal you're trying to reach for yourself then more power to you but there's nothing special beyond padding your profile so that any future apps allow a certain cushioning to make sure your scores don't drop too much or allow enough of a drop to still be in that sweet range to still get the best rates as mentioned earlier. But I'm in the churning game so I have a more lax view on scores since it's a part of churning.