How many cards?

[jamesdwi]

Me personally.... Too MANY!!!!

for best credit scoring purposes,  3 is the consensus. 

I usually don't go out of my way to use SD cards, they close when they close, if they  close at the rate of 2 of year, I'm good for the next 15 years or so, if I aquire anymore SD cards. ;-)

[redpat]

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@K-in-Boston wrote:

I enjoy two things: 5% (or more) off of every purchase and free travel, but mostly free travel.  The correct answer for me is however many I need to maximize and balance free travel and luxurious travel (with hotel and airline status, and being able to get great values on better rooms or seats up front).

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As AJC would say Amen.  Give me luxury or give me death because I can’t go back to economy or coach.

[digitek]

Over the last 3 years I've been opening cards that give cash back in different categories. At some point you run into dimishing returns. I ended up with 10 or so. I only carry 3, the rest are like tools and I only use them for certain things.

Not sure it is worth it really. Probably only saves me a about ~300 a year by juggling them all over one or two cards and I'm somewhat convinced that having so many cards and rewards and complicated spending subtely cause me to spend more than ~300 a year than I normally would with with simple one or two cards.

For most of the regular posters on this board CC's are like a hobby or personal interest. I realized I don't really get that much benefit out of having so many or reading about them, but I know for some reason that I really like to optimize my card lineup 😁

[Anonymous]

I uses to have a lot (6+) but now I have 5, and hope to go down to 3. Those three are:

AMEX BCP (oldest) Groceries 6% (in wallet)

Citi DC 2% on everything else (in wallet)

Chase Freedom (SD minimal use, 2nd oldest, use for 5% categories IF they are in my heavy target spending, keep in SD for backup)

SD:

Target Redcard 5% at Target (wife carries)

Cap One Savor (used to carry but wife has Costco Visa which gets 3% restaurants which is almost as good as Savor's 4%)

[kdm31091]

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@digitek wrote:
Over the last 3 years I've been opening cards that give cash back in different categories. At some point you run into dimishing returns. I ended up with 10 or so. I only carry 3, the rest are like tools and I only use them for certain things.

Not sure it is worth it really. Probably only saves me a about ~300 a year by juggling them all over one or two cards and I'm somewhat convinced that having so many cards and rewards and complicated spending subtely cause me to spend more than ~300 a year than I normally would with with simple one or two cards.

For most of the regular posters on this board CC's are like a hobby or personal interest. I realized I don't really get that much benefit out of having so many or reading about them, but I know for some reason that I really like to optimize my card lineup 😁

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I think this is an important and often overlooked point. It can be easy to overspend by more than the amount you're "saving" but juggling so many cards/reward programs. All those reward programs for specific categories can entice one to spend more on the categories and you lose more than you gain sometimes.

I think it's important to remember diminshing returns and all that.

[RonM21]

Op, to answer your intitlal question, for me it's like this...it depends on what day you ask me lol!  And when I give an answer it needs to be assumed that there is at least a plus and minus 10 differential 

All, for the following short list of just some of the reasons:

* One day a thick profile makes sense - the next day not so much

* Another day I like a particular lender,  then I hate them

* One card does HP's for increases - another card doesn't

* One lender has reps that I hate to deal with - Another lender has reps I can't even understand

* One day one CSR knows what they are talking about, then the next CSR is as good as a bag of rocks

* This lender likes good spend, that lender could care less

* I make plenty of enough income for that credit anylist, another anylist wonders why I'm not homeless

* That lender does PC's with ease, the other doesn't even know what PC means 

* One says I have too many inquiries, the other acts like inquiries isn't even a part of the credit report

* This one says I have too much exposure, the other says not enough experience

* I usually feel like an idiot, later I still am an idiot 

All of this and more leaves my answer to being so inconclusive because if you ask me enough times in a day, you'll get a crazy answer each time, depending on what I am dealing with.  But for right now, I'll go with I like having about around the number of cards I got.  In the 12 range suits me fine.  I've gotten over the impulse apping and so on......at least for today!

[Anonymous]

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@kdm31091 wrote:

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I think this is an important and often overlooked point. It can be easy to overspend by more than the amount you're "saving" but juggling so many cards/reward programs. All those reward programs for specific categories can entice one to spend more on the categories and you lose more than you gain sometimes.

I think it's important to remember diminshing returns and all that.

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Yes.  When this is raised here from time to time, nearly everyone claims that they just spend what they were going to anyway (despite some research showing otherwise) so it's nice to see someone say that they may have this issue!   Reminds me of a financial planner I follow, who says that nationally, less than 10% are net positive on credit cards (rewards after AF and interest and other fees), yet 100% of his clients claim to be.   (He doesn't believe them!)

[Anonymous]

Oh oh oh 🤔 well I was at 20 cards now I’ve went down to 13 because I feel I have wayyy to many to balance and I’m not getting the rewards I could because if the over load I would like to get done to maybe 5 and see how that works!

[SomewhereIn505]

I wanted a card with each issuer - MC, Visa, Disco, AmEx. 

As I have gone through my journey, my wants changed to rewards. That’s how I ended up with 2 Visas, 2 MC, and 2 AmEx. 

Not planning for a secondary Disco. 

[pinkandgrey]

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@SomewhereIn505 wrote:

I wanted a card with each issuer - MC, Visa, Disco, AmEx. 

As I have gone through my journey, my wants changed to rewards. That’s how I ended up with 2 Visas, 2 MC, and 2 AmEx. 

Not planning for a secondary Disco. 

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I was the same way LOL. I wanted one of each. Probably just my weird OCD....