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Is there a downside to having too many cards?

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AverageJoesCredit
Legendary Contributor

Re: Is there a downside to having too many cards?

Great point Driftless Smiley Happy

Ill just add a sobering thought, when one has alot of cards and no electric to utilize them, they just become added weight to the wallet Smiley Wink. 2 weeks going ive no electric and havent used a single card. Managing could be a hassle but i really think it boils down to possibly watering down any rewards you might earn. Again, great point givenSmiley Happy
Message 11 of 13
Anonymous
Not applicable

Re: Is there a downside to having too many cards?

Tons of great points!

Pretty much every other card I have had a justified purpose. Walmart will sit in the SD too but it helps a lot with overall UT because the 6k limit and I'll probably get a holiday promo offer with it. SunCountry I just got for the sign up Bonus and free bags, after checking around they seem to be higher priced than other airlines even with the free bags, but we'll get a free round trip flight out of the sign up so it's not all bad and no AF the first year. We have tons of UR with Chase and transferring to Southwest definitely ends up being better than Sun Country so not too sure if that'll get kept or cancelled at the 1 year mark.

Message 12 of 13
Anonymous
Not applicable

Re: Is there a downside to having too many cards?


@driftless wrote:

I think that there is a downside which does not receive much attention on this board.  Creditors are looking for responsible use of credit and if you do not use their card(s) much or SD them, you are not demonstrating responsible use of credit.  Everyone has their own spend level and you dillute that spend when you spread it out over too many cards or have a card rotation.  I believe that many credit card companies want to have their card(s) be your daily driver.  I think that you get rewarded with higher SL's and CLI's when you use one or two credit card ecosystems heavily.  

 

IMHO, YMMV. 


Why would I care what the credit card companies want?  

 

Anyway having all these credit cards have done damage to my expensive Italian wallet.  

Message 13 of 13
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