People with multiple Cards

[Anonymous]

Ive already found 7 cards to be tricky. Im about to just sock drawer my oldest card with BofA. Ive had it for 5 years but it gives me nothing and I dont want a HP for a PC. So then ill be to 6. Ultimate goal is to somehow get my Slate to a CSP. Long shot but im going to try once it ages. 

[Anonymous]

When the time comes within a few months of apping for a new car loan or something of that nature will it be better to have zero balances or one card carrying a balance of 1-9% for a couple months leading to that app?

[eagles08]

Yeah, I'd say have only one card report between 1% and 9%.

[oscar_actuary]

defaults

PenFed Platinum Rewards Visa:  Gas and Groceries

Sams Club Discover:  Sam's club

Fidelity Amex College Rewards:  Other

sub in Discover More and Freedom for 5% categories.  Rotate Paypal in for Dining occasional

Have something small each month automatically hitting 8 of the other accounts.  Thus without really trying, I get activity on 10 cards.  I'm not recommending that but it works for me so far

[takeshi74]

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@Anonymous wrote:

Is 3 to many different cards to swap out every month?

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Completely subjective matter.  Too much is whatever you can't reasonably handle.  I have 7 though 3 of them are basically sock drawers cards that are only occaisionally used.  The ones that are used are used based on their best rewards categories.  Some people have fewer cards.  Some have more.  You have to determine what works for you and go with it.

[revvystoke]

I usually only use two-three at a time, I have a "Spense" app on my iphone. It was free and I set a spending limit, or budget and I enter in the amount of the transaction. Keeps me from spending more then I budget for each month, or week. Quick to use, just open the app, enter the amount and press save.

[jenn_bar]

I think it's just up to the individual. I only plan to have the amount of cards that I need and will use. If I were to "sock drawer" a card in the future, it would have to be one without an annual fee and farily purposeless except for my helping my AAOA.

My Freedom is used for the 5% catoregory (kohls.com right now for coffee for our Keurig). My Hyatt is used for only Hyatt stays and I used it for rent this month to get the sign-up bonus. My BCP is used for groceries. My CSP is used for everything else--rent, B1G1 movies on Fridays, casual spending.

I am also an AU on a Costco AMEX which is where I put gas because I am not getting the bill!

[OptimalCS]

I love playing the card game.

I use:

Discover for gas
BCE for groceries
Citi TYP for everything else.


I don't use cash often. I rack up as many points as possible.

I make multiple payments every month to each card and only let one report a small bal. ,