How many credit cards do you have total?

[LawStudentCivilis]

I have 4 (IF you count my store card with the Amex logo). But I think 3 is a great number realistically for the average person.  I wouldn't take into consideration members of this forum, because we're all avid credit obtainers or however you want to describe it.  Someone's eyes got big when I said I had three cards. I really don't see a use for more than 4 or 5 besides the fact of obtaining great sign up bonuses.

[longtimelurker]

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@LawStudentCivilis wrote:

I have 4 (IF you count my store card with the Amex logo). But I think 3 is a great number realistically for the average person.  I wouldn't take into consideration members of this forum, because we're all avid credit obtainers or however you want to describe it.  Someone's eyes got big when I said I had three cards. I really don't see a use for more than 4 or 5 besides the fact of obtaining great sign up bonuses.

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Even though I have many more, I think there is some truth in that.  I have cards for different types of spending, but unless you spend a lot overall and a lot in each niche, it's not that critical.  For example, I have the US Bank Cash Plus, which I got pre-nerfing.   Now I use it just for cell phone spending.   This is about $300 per month, so at 5% that comes to $180 a year + 1.8*$25= $225 per year.  If I just used my 2% card I would get $72 per year, so this is about $150 more.   Is $150 real money?  Sort of.  Would I notice if it went away?  Probably not as this is $3 per week.

So, for at least some of us, this is more of a fun game than a way to earn serious amounts of money.

The exception is hardcore manufactured spending.  If you put (as some did) $100K per month on the 5x TYP you get $60K per year tax free (if you don't get shut down of course) and that would be noticeable to many of us!

The other big type of reward is premium travel and that can also be valuable.  But generally the best way to do well here is to focus spending on one (or maybe 2) cards, again supporting LawStudentCivilis points.

[jeffery581]

18 down from 21.

 I want to close 5 more but we will see.

[OptimalCS]

Currently 4!

I'll dump Cap One by the end of the month ! It's my only AF card.

My magic number is "3"

Guess I'm a loner!

[GatorGuy]

106 open accounts do not mean you have 106 credit cards unless CC's are the only type of credit which you have ever had. Right now I have 24 open reporting accounts but only 7 are CC's. Most of them are student loans because Sallie Mae opens a 'new' loan every semester even though I had one master promissory note. I also have a mortgage and two auto loans, etc.

[GatorGuy]

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@LawStudentCivilis wrote:

I have 4 (IF you count my store card with the Amex logo). But I think 3 is a great number realistically for the average person.  I wouldn't take into consideration members of this forum, because we're all avid credit obtainers or however you want to describe it.  Someone's eyes got big when I said I had three cards. I really don't see a use for more than 4 or 5 besides the fact of obtaining great sign up bonuses.

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I agree. I got into the high 700's with only 4 credit cards and student loans. I think that creditors like to you have a decent amount of credit in your name and how you have managed it. You also want a decent base so each time you add credit it won't devastate your AAoA.

[LawStudentCivilis]

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@longtimelurker wrote:

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@LawStudentCivilis wrote:

I have 4 (IF you count my store card with the Amex logo). But I think 3 is a great number realistically for the average person.  I wouldn't take into consideration members of this forum, because we're all avid credit obtainers or however you want to describe it.  Someone's eyes got big when I said I had three cards. I really don't see a use for more than 4 or 5 besides the fact of obtaining great sign up bonuses.

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Even though I have many more, I think there is some truth in that.  I have cards for different types of spending, but unless you spend a lot overall and a lot in each niche, it's not that critical.  For example, I have the US Bank Cash Plus, which I got pre-nerfing.   Now I use it just for cell phone spending.   This is about $300 per month, so at 5% that comes to $180 a year + 1.8*$25= $225 per year.  If I just used my 2% card I would get $72 per year, so this is about $150 more.   Is $150 real money?  Sort of.  Would I notice if it went away?  Probably not as this is $3 per week.

So, for at least some of us, this is more of a fun game than a way to earn serious amounts of money.

The exception is hardcore manufactured spending.  If you put (as some did) $100K per month on the 5x TYP you get $60K per year tax free (if you don't get shut down of course) and that would be noticeable to many of us!

The other big type of reward is premium travel and that can also be valuable.  But generally the best way to do well here is to focus spending on one (or maybe 2) cards, again supporting LawStudentCivilis points.

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Great analysis! Hopefully this will all be helpful to OP.

[emptypockets]

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@ilovelisa wrote:

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@Ron1 wrote:

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@ilovelisa wrote:

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@Ron1 wrote:

I have 106 personal cards not including business cards according to EXP.

Ron.

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Are there even 106 different cards???

How do you explain that in a recon?

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Barclays underwriter askedme once. I told themfor the rewards and cash back.

Ron.

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Dang,, and people were shocked when I said I have 90 inq. each on EX and EQ. 

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Wow!!

[emptypockets]

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@Ron1 wrote:

I have 106 personal cards not including business cards according to EXP.

Ron.

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I knew you had alot of cards, but that is way more that I would have thought. I currently have 30, not counting Bill Me Later. I am definitely thinning out at least 2 or three - at least to make room for the next 2 (Citi AA, possibly AMEX SPG or CIti HH Reserve) I want in about 6 more months!

I do keep a spreadsheet, to make sure I keep track of last use, etc. I have some cards that are older, from the rebuilding days. No sense in cancelling cards with no AF. Lately, I have been apping solely for sign up bonuses, so I can use miles/point to travel without spending as much. I would not call myself a "Churner" as I have not cancelled for the sole purpose of reapplying and getting the rewards a second time. I have really only cancelled cards with AF's, or ones with too much overlap between other reward cards, so I couldn't really maximize the rewards.

When you have alot of cards, I need a strategy for obtaining them (in the past, it was building larger lines, and rebuilding. Current plan is just for rewards/points). I try to refrain from apping just because I saw it on the forum (but while in rebuilding, I did this if I saw a card that met my needs).

My current scores are decent, and AAOA is 5 years, so I can get away with some frivolous apps, but right now I am trying to avoid INQ's until about 2/2014. Double pulls from BOA, and Chase have given me a few too many on EX (7 right now).

[OptimalCS]

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@emptypockets wrote:

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@Ron1 wrote:

I have 106 personal cards not including business cards according to EXP.

Ron.

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I knew you had alot of cards, but that is way more that I would have thought. I currently have 30, not counting Bill Me Later. I am definitely thinning out at least 2 or three - at least to make room for the next 2 (Citi AA, possibly AMEX SPG or CIti HH Reserve) I want in about 6 more months!

I do keep a spreadsheet, to make sure I keep track of last use, etc. I have some card that are older, from the rebuilding days. Lately, I have been apping solely for sign up bonuses, so I can use miles/point to travel without spending as much. I would not call myself a "Churner" as I have not cancelled for the sole purpose of reapplying and getting the rewards a second time. I have really only cancelled cards with AF's, or ones with too much overlap between other reward cards, so I couldn't really maximize the rewards.

When you have alot of cards, I need a strategy for obtaining them (in the past, it was building larger lines, rebuilding. Current plan is just for rewards/points). I try to refrain from apping just because I saw it on the forum (but while in rebuilding, I did this if I saw a card that met my needs).

My current scores are decent, and AAOA is 5 years, so I can get away with some frivolous apps, but right now I am trying to avoud INQ's until about 2/2014. Double pulls from BOA, and Chase have given me a few too many on EX (7 right now).

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Boy your pokets are full