@Kforce wrote:The value of your time managing a new card vs the rewards or other value it really adds.
I believe a lot of false advertising is plentiful about rewards and benefits. Also the average consumer performs false math by throwing in spend that might no be real. (Need to look at many months of real spend). Not subtracting current rewards on same spend, and not subtracting even 1c for time managing a new card on top of current set.
New 5% rotating card: Does not = (500*0.05) = $25/month gain
More like shifting spend from a current 3% card to the new 5% (2% gain)
Maybe 425 spend, if looking at real average gas or utils or amazon (YMMV)
Subtracting value of your time. ((Monthly Income/168-Hrs)/60 min in hr) = Value per min of time.
Time value per min * time managing each card every month. (2 min a week, * pick a number for how you manage your cards)
* Note example values only *
$ 7000/mo = 70c a min * 8 min month = $5.60 per credit card/month (Time loss value)
Cards real value
(425*0.02) - 5.60) = $3.50/mo
If income is low and base card 1.5% or 2% value gos up
Same 5% with 2% base card and $4000/mo income
Cards real value
* Note far from the (500*0.05) of $25, however $10/mo is $10/month
**
Math for thought, with high income and 2.5% or 3% base cards 4% & 5% = negative value
Same 5% with 3% base card and 14,000/mo income
Cards real value: ((425*0.02) - 11.11) = $ -2.61/mo (Loss)
I agree with your point regarding how adding a new card often represents "shifting spend", and to calculate the real benefit of a new card one has to subtract one's current card benefit from the new card's benefit, and the difference is the new card's additional benefit. Once calculated, one may find that a new card's additional benefit is not worth getting another card!
Regarding your point that one could include the value of their time to calculating a new card's added value or loss: I think it is important to note that no matter how many cards one has, statements need to be reviewed each month for financial awareness, mistakes, and fraud. It has been my experience that having more cards can result in charges being better organized by the category each card represents. In contrast, having many charges lumped together on one or a few cards can result in longer review time than reviewing the same charges organized by category across multiple cards - in which case having more cards could be a time saver. YMMV ...
Thanks for the various income scenario calculations! They were super interesting! Cheers
13Oct22 Exp F8: 812
@Priory_Man wrote:Always, one more
I was going to say that 
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
EQ8 760, TU8 744, EX8 757 as of September 7
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
Remember there are a few real minimalists (yes, we are working on the bylaws to expel them, but for now...) who are actually content with low numbers of cards and are considering which to prune, rather than going for one more. Yes, disgusting UnAmerican behavior for sure.
@longtimelurker wrote:
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
Remember there are a few real minimalists (yes, we are working on the bylaws to expel them, but for now...) who are actually content with low numbers of cards and are considering which to prune, rather than going for one more. Yes, disgusting UnAmerican behavior for sure.
Talking about me, again ! 
Yes all my spend is on two 3% general spend cards.
Have been closing all the rotating and special category cards.
Yes the 5% ones everyone else have been getting or dreaming about.
Not managing a lot of cards gives me more time to read the MyFico forum 
@longtimelurker wrote:
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
@mgood wrote:
@Priory_Man wrote:Always, one more
I was going to say that
In guitar forums and gun forums, it's called GAS, Guitar Acquisition Syndrome, or Gear Acquisition Syndrome, or Gun Acquisition Syndrome.
There is obviously something similar going on here. CAS doesn't have the same ring to it. We'll have to work on the name.
But in any case, no matter whether you have one or fifty-one, there's always one more you'd really like to have.
Remember there are a few real minimalists (yes, we are working on the bylaws to expel them, but for now...) who are actually content with low numbers of cards and are considering which to prune, rather than going for one more. Yes, disgusting UnAmerican behavior for sure.
Oh, I know. Just havin' fun. I've actually considered getting rid of two or three myself. . . . Then I sat down in the shade until I came to my senses.
I have two or three that really don't do much for me in terms of rewards. Buuuut, they're old accounts that help with AAoA, so there's that.