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(Too many) Credit Cards ??

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Anonymous
Not applicable

Re: (Too many) Credit Cards ??


@jawbrkr wrote:

Honestly, I cant see myself ever carrying more than 5 or 6 cards. I just dont have the wallet space lol. 


Wallets are cheap. Buy a bigger one.

Message 11 of 29
Anonymous
Not applicable

Re: (Too many) Credit Cards ??


@Anonymous wrote:

@jawbrkr wrote:

Honestly, I cant see myself ever carrying more than 5 or 6 cards. I just dont have the wallet space lol. 


Wallets are cheap. Buy a bigger one.


I was going to say it but you beat me to it! Smiley Very Happy

Message 12 of 29
Man-Of-Steel
Established Contributor

Re: (Too many) Credit Cards ??


@icyhot wrote:
I have more than I ever thought I'd have in my lifetime. And I use all of them. My mistake was opening so many just to open them and then having no use for them, so I closed them soon after. You really have to evaluate your needs and spending to see what cards make sense for you. Of course there are the rewards hunters and churners, but they're a small breed

I thought most of us are rewards hunters here on this forum. Smiley Wink

Message 13 of 29
Anonymous
Not applicable

Re: (Too many) Credit Cards ??


@Man-Of-Steel wrote:

@icyhot wrote:
I have more than I ever thought I'd have in my lifetime. And I use all of them. My mistake was opening so many just to open them and then having no use for them, so I closed them soon after. You really have to evaluate your needs and spending to see what cards make sense for you. Of course there are the rewards hunters and churners, but they're a small breed

I thought most of us are rewards hunters here on this forum. Smiley Wink


I guess there are reward hunters and reward hunters!  If you get excited about the $25 per quarter from BBR for example, you are, um, the former.

Message 14 of 29
Man-Of-Steel
Established Contributor

Re: (Too many) Credit Cards ??


@Anonymous wrote:

@Man-Of-Steel wrote:

@icyhot wrote:
I have more than I ever thought I'd have in my lifetime. And I use all of them. My mistake was opening so many just to open them and then having no use for them, so I closed them soon after. You really have to evaluate your needs and spending to see what cards make sense for you. Of course there are the rewards hunters and churners, but they're a small breed

I thought most of us are rewards hunters here on this forum. Smiley Wink


I guess there are reward hunters and reward hunters!  If you get excited about the $25 per quarter from BBR for example, you are, um, the former.


LOL Smiley LOL

Message 15 of 29
peaceonearth
Established Contributor

Re: (Too many) Credit Cards ??


@jawbrkr wrote:

So I have this question. I see that many people in these forums carry a lot of credit cards. I have seen people say they carry as many as 60 (Perhaps an exaggeration). My question is, do people really use them all? I mean, at what point does a credit card company say this guy is not using such and such card so we need to close the account if a card is not being used? 


 

 

This reminded me of a guy a few years ago, when I worked as a biomedical engineer for one of the biggest medical scanners manufacturer, we refurbished CT & MRI scanners; the guy used to paint the scanners for us.

 

On his spare time he would go to Napster and imish and leech all kind of Softwares that he never needed or had use for. Just downloading and collecting Software all day along...

 

 

Message 16 of 29
CaSHMeRe
New Contributor

Re: (Too many) Credit Cards ??


@jawbrkr wrote:

So I have this question. I see that many people in these forums carry a lot of credit cards. I have seen people say they carry as many as 60 (Perhaps an exaggeration). My question is, do people really use them all? I mean, at what point does a credit card company say this guy is not using such and such card so we need to close the account if a card is not being used? 


I don't use them all, then again ~ I think I have a total of 6?  Wife has a few others that don't get used.  Outside of Wells Fargo shutting down one of my wife's smaller CL cards last year, none of the cards we don't use ever get cancelled.  My wife has a CapOne card from 10 years ago that she hasn't used in 9 ... Its an awesome trade line, and we have no plans to shut it down Smiley Happy

 

If you fear the card closing ... Use it on a single bill/charge once a month and auto pay.  Set up each card on something different and go from there.

 

I prefer finding cards I can see myself keeping for atleast 3-4 years.  I don't open, nor plan to open any sort of store cards ... I have no real reason and I don't shop at any particular store enough to take advantage of a 5% or so discount.

 

YMMV ... I plan to keep 10 or less at any given time.  I even shut 2 down this year (BofA Plat & AMEX gold)

 

EDITED TO ADD:  Just counted ~ I have 7 personal, not 6 Smiley Happy

Message 17 of 29
Broke_Triathlete
Valued Contributor

Re: (Too many) Credit Cards ??

I have 5 cards and cycle the QS WMC, QS, and Barclays every month so those 3 get used for a solid month every 3rd month. I don't really use the other two that much and thinking about closing them. In the end I may end up with 4-5 prime cards, max. I come no where near my limits currently so no need for another $50K in limits. 

Personal:

Business:


Message 18 of 29
takeshi74
Senior Contributor

Re: (Too many) Credit Cards ??


@jawbrkr wrote:

I mean, at what point does a credit card company say this guy is not using such and such card so we need to close the account if a card is not being used? 


NUmber of cards is a very common topic.  It's not about the number of cards itself.  Creditors may be concerned about the amount of credit extended to a given credit prilfe but creditors have varying underwriting critieria so they will not all extend the same amount to a given credit profile.  Therefore their cutoffs will vary.

 

See also:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=number%20of%20c...

 


@jawbrkr wrote:

So I have this question. I see that many people in these forums carry a lot of credit cards. I have seen people say they carry as many as 60 (Perhaps an exaggeration). My question is, do people really use them all?


People vary.  Some use all their cards.  Some do not.  Some keep every card open.  Some keep every card without an AF open.  I have a couple iof cards that I keep for utilization padding.  Each has to do whatever works for the individual.  Number is just an outcome.  Instead of focusing on it focus and your needs/wants and that will determine your number of cards.

 

Message 19 of 29
jawbrkr
Established Contributor

Re: (Too many) Credit Cards ??


@toothgrind3r wrote:

I hope to one day narrow mine down to 4 (Visa, MC, Discover, Amex)

 

Off topic, OP, is your name in ref to the band Jawbreaker?


Sorry for the late response. But no, not thr band. I was looking for a handle and that one seemed appropriate. For some reason boxing and breaking jaws came to mind..



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Message 20 of 29
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