How many cards?

[wasCB14]

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@SouthJamaica wrote:

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I like neither simplicity nor maximizing rewards.

I like diversification, because I don't trust financial institutions.

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I take a very different approach. I don't mind having a lot of cards to maximize rewards, but I like the simplicity of only having to check a few issuer websites and the efficiency of having most of my spend earn MRs and URs (outside of bonus chasing).

Having 10 or 20 cards with little use other than serving an emergency backups would be more a nuisance for me than a benefit.

[Anonymous]

For practical purposes, I'd be fine with: Amex BBP, Amex Gold, Amex Amazon, and an Alliant Cashback (for when Amex not accepted).  For our business expenses, everything goes on C1 Spark.  Because I do a lot of bonus chasing, I end up with a ton more that I cycle through and close out (i.e. this year I've already opened 14 new cards).

[Stralem]

I did my share of bonus chasing and wound up with some 12 cards. It's kind of annoying having all of them, honestly.

If I could go back in time, I"d probably have 4 or 5 cards at the most.

(Also, LOL @ me coming back from the dead)

[NRB525]

It seems to me it depends on ones goals with cards.

If primarily for true cash back earnings, then that means avoiding AF and keeping reward categories from overlapping. This is a fine goal. I have a few cards in this group simply because they are lucrative in what they do, such as Cash+ and Discover.

Another approach is how to gain perks from the cards. This leads me to obtain, and likely use for several years, travel focused cards, high AF cards which I think can provide status / perks, and often require travel to use some of the prepaid benefits that go in those annual fees. My experience is this is another approach to extracting value from the cards, but it only applies if you actually want to get out and travel. It also means certain high AF cards aren't necessarily the best vehicle, so one has to pick and choose. And as noted by at least one other, if the brand is not going to be used, the high AF needs to be cut or one is really throwing away money.

I have been closing a few cards, both AF and no AF, in order to try to keep cards that are really going to be used.

So I am down to 20 cards, likely to close one soon, debating how long to keep three separate CU cards, looking to get back a Hyatt card, and possibly some others for SUB and rewards.

There is another category for using cards, and that is to try to pay down debt. I can't recommend someone jump into this area, unless the debt already exists. It really should be a short term horizon while one does this, because it's just minimizing cost, not really gaining anything useful.

[Anonymous]

i've finally reached my comfort zone and 6 cards is optimal for me

[Anonymous]

I have 17 total now but I will admit that I did take bonus chasing to the extreme this year. 9 of the 11 cards I opened had a nice bonus with it.

Looking back, I have way too many cards when I probably maybe use 4-5 at most. Next year, I’m going to try to refrain from bonus chasing as my Average age of accounts has taking a dip. My goal next year is to not get any cards unless it would be beneficial to me financially (i.e. good balance transfer offer).

[Anonymous]

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@NRB525 wrote:

It seems to me it depends on ones goals with cards.

If primarily for true cash back earnings, then that means avoiding AF and keeping reward categories from overlapping. This is a fine goal. I have a few cards in this group simply because they are lucrative in what they do, such as Cash+ and Discover.

Another approach is how to gain perks from the cards. This leads me to obtain, and likely use for several years, travel focused cards, high AF cards which I think can provide status / perks, and often require travel to use some of the prepaid benefits that go in those annual fees. My experience is this is another approach to extracting value from the cards, but it only applies if you actually want to get out and travel. It also means certain high AF cards aren't necessarily the best vehicle, so one has to pick and choose. And as noted by at least one other, if the brand is not going to be used, the high AF needs to be cut or one is really throwing away money.

I have been closing a few cards, both AF and no AF, in order to try to keep cards that are really going to be used.

So I am down to 20 cards, likely to close one soon, debating how long to keep three separate CU cards, looking to get back a Hyatt card, and possibly some others for SUB and rewards.

There is another category for using cards, and that is to try to pay down debt. I can't recommend someone jump into this area, unless the debt already exists. It really should be a short term horizon while one does this, because it's just minimizing cost, not really gaining anything useful.

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Interesting about the Hyatt. I’m actually considering closing my Hyatt when my AF hits again since it isn’t my preferred brand. I mostly prefer to stay at Hilton’s 1st then marriotts 2nd. Only thing about my Hyatt is that I’m locked into the 75$ fee which would be easy to make back with the free night. Downside is I just hate how limited their properties are where I travel. 

[MrDFinance]

One or 2 more cards for hotel rewards and I’m think I’m retired from the game ....All my basis are now covered besides the annual free nights that I want...

I enjoy managing my finances so it’s not a bother to me .....

[redpat]

Who needs bonus chasing, my office manager has my AA shopping portal login for our staples purchases and get 5x - 10x.  She gets notification when it’s 5x or greater. We get a ton of AA miles w/o taking a flight, swiping a AA credit card or spending personal dollars.

The only way I could ever have as many points and miles as I do is because of business spend and we think of them as our annual SUBs.

We are a pimple on...AA, Amex and Chase because I have seen company cc statements w/ millions of points and miles and every time I see them I start to drool.

[Anonymous]

I have 13, which is too many for me.