Spreading yourself too thin

[Anonymous]

To be honest I get more back off my Quicksilver than my other Cards unless I'm going out of my way to hit a category. I dont put more than two grand through my Cards every month. It's not a bad idea to leave a little on the table to put it all on one card knowing that the very next statement (or sooner with cap1) you're going to have something you can redeem and use.

That wallaby app does a good job of rubbing it in that you're missing out using "wrong card" but I don't care at this point either

[OmarGB9]

You make some very good points kdm, as have other posters on here, and I'm sure I myself am spreading myself too thin with 5 cards, but I still want a few more lol. Main reason being that I want to build up my portfolio now and just grow it over the years so later down the road when I want to make large purchases such as a car or a house, I'll have the nice thick file I need. Also, I want diversity in my repertoire. Eventually down the road I would probably close a few cards I don't really need or want anymore, but for now, as someone else said earlier, it's fun. I don't stress out too much about which card to use where and for how long. I don't have a huge spend anyway, so it's kind of irrelevant at this time. Even so, I've managed to rack up some decent rewards on my cards even with spreading my spend over a few cards. So I'm satisfied.

[kdm31091]

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@Anonymous wrote:
To be honest I get more back off my Quicksilver than my other Cards unless I'm going out of my way to hit a category. I dont put more than two grand through my Cards every month. It's not a bad idea to leave a little on the table to put it all on one card knowing that the very next statement (or sooner with cap1) you're going to have something you can redeem and use.

That wallaby app does a good job of rubbing it in that you're missing out using "wrong card" but I don't care at this point either

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Checking an app to make sure I'm using the "right card" is just overkill for me. I did have wallaby briefly, but just find it to be annoying. It's the same thing with Target's Cartwheel app. You can get good savings from it; it's just the fact of having to find things you are buying on the app, check for savings, etc. Again, it's just a pain and not something I'm used to having to do. Worth the effort for some, but for me...life's too short. Not gonna sift through an app to see which card will earn me 0.03 more on my transaction. It's just not that important.

 While some issuers have gone away from stupid redemption minimums, there are holdouts including Amex for me so basically I have to make sure I use my BCP enough. Double Cash has minimum too, but if you are putting general spend on it, it doesn't really take long to get to $25. I'm at $19 after one statement.

[Anonymous]

I don't have LOTS of cards, but enough, including 5 store cards. Yet I also keep track of hubby's cards and I think he would have a melt down if he had to personally keep track of what card to use where. I just tell him what exact card, and take away the cards that are out of rotation - lift out of wallet, pop in my safety box. It works for us, lol. Almost! He has however shown an affinity for his AARP card so more spend is going on that from him. I guess we all have our favorites? Mine is my Discover. Just about everything outside of groceries and gas go on this card. Most of the household bills go on this card. They get many swipe fees from me and the cash back adds up quickly. Love all the Amazon goodies I've gotten with the rewards. For most of my cards though I meet the sign on bonus, and then just keep them active. Charges here and there. I do plan on upgrading my BCE at the end of the year to utilize the higher CB on groceries. I kicked around apping for a Sallie Mae but I think I'm just going to hold off on that. Perhaps in the new year I will weed out 1 or 2 current cards, and more than likely close 1 store account. It *would* be nice to not have to think about keeping this or that card active, but the spread of rewards doesn't bother me since I always manage to utilize them, lol.

[Anonymous]

I do have quite a few cards, but I have it setup to where it manages itself pretty easily.  Here's my breakdown: 

Better Balance Rewards (auto pays my internet). 

Bank of America Cash Rewards (auto pays my netflix). 

Chase AARP for all dining (exception is 5% category times for Freedom/Discover IT.

Sallie Mae for all gas, groceries and Amazon. 

Freedom and IT in the 5% categories. 

Obviously with IT having a huge double cashback advantage it gets more play.  It is my everyday spend card as it is 2%.  It is my Amazon card because it beats out Sallie right now. 

Despite having quite a few cards it is very easy for me to manage as I basically use 3 for the most part. 

[Anonymous]

If you are not paying interest anywhere spending enough to redeem 20 bucks a month is still all free money. When you get good at it dilignce you can attack bigger chunks with the same spend, get your patterns and routines down etc.

I buy all the fuel I need each week on gas gift cards on one of the supermarket offerings. You do that with restaurants as well, but often there are $50 restaurant Card for 40 bucks online so that's a little bit better savings… but when you buy things online there shopping portals and when you use the card at least you get the 1% back. So we can again see it both ways much of this is time waste, potential headache, but if you're wasting the time you will save the money

[onstar]

I have ~20 general purpose (non-store) credit cards. I only use about 4 on a regular basis, and I'm going to eventually prune about 5 of them. But I am definitely keeping ~15 on hand.

Other than the 6% from BCP, I really care very little about the cash back for everyday spending. For me, it's more about the partner perks that the card gives me. And I'm not just talking about the 5% back that you get when spending the CC at the partner site. Having an AAdvantage card gives me various perks (free luggage check in for example) when I fly AA. Having an IHG card gives me access to the lounge when I stay at their properties (free dinner & drinks!), plus a free night each year. Similar for the Marriott card. I have the Prestige for airport lounges & elite status for car rental. Total Rewards Visa so I get VIP treatment when I go to Vegas (4x a year). Costco Amex so I can ... get into Costco. Etc. 

So, other than using BCP at grocery, I don't really think about which card I should use when I'm out and about. And all my CCs are already saved to the partner accounts online, so I don't have to worry about that much.

[happypill]

I definitely agree in terms of trying to rack up points with a bunch of different cards & loyalty programs.

I prefer cash rewards to keep it simple and low minimum redemption hurdles are definitely welcome.  I currently spread my spend across 3 different cards that cover all my needs.  I have SSFCU for travel & dining, Sallie Mae for gas, groceries & Amazon, and one card for general spend where I'm also working on a sign-on bonus.  Did the Arrival+ two months ago and working through Venture this month.  I also use the Amazon store card if my monthly spend exceeds the SM $750 limit - this posts automatically as a statement credit with no minimum.

I'm definitely not into collecting points across a bunch of hotel or airline cards.  I find that I get much better value through cash back.  I would get those cards for the sign-on bonuses, but that's much different than keeping them around.  Same with the Arrival+; that used to be an excellent card for my spending but then I got a better travel rewards card and the $100 redemption minimum kills it for me, so after the sign-on bonus and free AF first year, I'll need to PC.

[Anonymous]

I can see where you're coming from.  I have 8 cards, which is about my upper limit of cards I care to manage.  There may be a few cards I obtain in the future, but I'd probably look to consolidate cards at this point.  The problem is, all of my cards have a specific purpose.  The only card I can see myself cutting is the AARP card, in favor of a VGC using my Sallie Mae.  Once the Uber promo runs out, the QS card is probably on the chopping blocks as well, however I'd probably like a new AMEX for the Credit Line and for the EX score once they lose the Costco business.  May look into the Freedom card once I'm eligible for the $200 promo as well, although it's difficult to justify with Discover beating it in so many ways.

[Anonymous]

+1, especially on the "getting back in."