@AverageJoesCredit wrote:
Been using only one card recently to meet a SUB and i gotta say its kinda liberating only using one card and not worrying about its rewards or structure lol. Lol, i maybe on to something. Forget all credit goals and find THE ONE
Remember the Boy Scout motto: "always be prepared" as you never know when one of your fine lenders feels not loved and denies a purchase or freezes your account(s). Good to have a few good cards just in case 
@AverageJoesCredit wrote:
Been using only one card recently to meet a SUB and i gotta say its kinda liberating only using one card and not worrying about its rewards or structure lol. Lol, i maybe on to something. Forget all credit goals and find THE ONE
Yep, I'm still looking for THE ONE also. I've been carrying the same two in my wallet for the last seven months, but it would be nice to get down to THE ONE.
@Anonymous wrote:
@wasCB14 wrote:
@expatCanuck wrote:
@Anonymous wrote:
@UpperNwGuy wrote:
@Anonymous wrote:
You may have another thread I missed, but are you closing cards with AF? Secured? Bank accounts as well? Just wondering why. You’ve closed 3 and only have 7 remaining. 10 is not an extraordinary amount if there is no AF and unsecured. Just wondering. Good luck with your plan, perhaps you could elaborate.For most American credit card users, ten is most definitely an extraordinary amount. The people on this forum are unusual in the number of cards that they have.
Congrats MAZDA3! I went from 9 to 6 last summer but am now up to 7, and like you, I think I should close another one soon.
The average American has something like 19k in credit card debt. I would expect they have multiple cards to carry that much credit card debt. I prefer to be in the 20+ card group with zero credit card debt.
According to this Jan-2018 article, the average is $6375.
I have 7 cards and can see adding a few more (TD Bank, 'cause it's my bank, and CO QS and/or Savor - cash back and no FTF), and then closing the Amex and Discover (because I dislike the phrase "we don't accept ...").
I'm not sure of the accuracy of any figures, but watch out for the distinction between "CC debt for the average American" and "average for Americans who have CC debt". Also, some studies may only look at revolved balances while others look at PIFed ones.
Very astute point, statistics can be made to show essentially anything you wish them to say. Bottom line, if anyone wishes to "thin the herd" for whatever reason they choose or no reason at all, that's a personal secession. I only asked because th personal decision was posted to a public forum, not to create derision. I carry 19 credit cards with a total limit of ~ $175K in available credit and an income ~ $110K. I carry $0.00 in CC balances month-to-month and enjoy the benefits of cash back, miles, and other perks my cards provide. Only 2 cards have an AF ($89 & $95) and those AFs are far outweighed by the savings and perks I receive. So for those who don't wish to do so, more power to the mall, as well as those who realize they do not have the discipline to use them responsibly. To all...Enjoy your lightened wallets or enjoy your credit and thank you for sharing!
This is very true. Statistics are CONSTANTLY used in politics to prove one point or another. Its how the exact same study can be claimed as "proof" for one side that they're right, and "proof" for the other side that they are also right.
I wasn't meaning to be snarky when I mentioned the article (and I'm sure the other poster wasn't either!). I take your stance on the issue... To each their own. The only thing I will caution against these days (and its because I myself learned the hard way!) is collecting store cards because they are "easy" to get. Other than that, if a person has 20 cards because they got a great SUB on them, more power to them. 
My current philosophy on my cards is that I want to have at least three separate cards from different banks with a high enough CL that I can cover a large charge in a true emergency (think emergency home repairs or car maintenance) without maxing out my card. In my mind, that means a 5 figure limit or higher. So that's why I'm now in card closing mode. However, I'm not opposed to taking advantage of a great sub (like Discover double cash back). They gave me a great SL on the second card, so that means older cards that haven't kept up become expendable. Somebody else might close just to make their life simpler. Somebody else might think my lineup is weak and I should go after the Chase and Citi cards.
Everyone is different.
@Anonymous wrote:
@AverageJoesCredit wrote:
Been using only one card recently to meet a SUB and i gotta say its kinda liberating only using one card and not worrying about its rewards or structure lol. Lol, i maybe on to something. Forget all credit goals and find THE ONERemember the Boy Scout motto: "always be prepared" as you never know when one of your fine lenders feels not loved and denies a purchase or freezes your account(s). Good to have a few good cards just in case
Preachin to the choir in an advocate of having different lenders etc but its just been nice to use the one. But having options is good too. Once this SUB is met, ill revert back to my Disco as im in my double cash back promo again
