Why do you need so many credit cards?

[Anonymous]

---

@Anonymous wrote:
well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.

as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

---

I also like a simple system but I found that out  after the sprees. App first- plan later is not a plan. Of the 11 accts I opened in a short time, only 3-4 are used on a reg basis. As some people have said; they like to go after new apps, they know how to 'play' many cards at once & it works well for them. But, the people I know personally who have high solid credit scores have  approx. 2-3 cards with moderate limits.

[Anonymous]

well obviously everyone on this thread thinks i am a retard lol but it's all good. my cards work well for me and if they don't want input from different perspectives then a credit board is not the place to be.

[myjourney]

---

@Anonymous wrote:
well obviously everyone on this thread thinks i am a retard lol but it's all good. my cards work well for me and if they don't want input from different perspectives then a credit board is not the place to be.

---

No one thinks like that ....You just stepped out in front of the bus tonight ...Lol

It's all good and everyone has a valid reason and their way of using and preserving their credit 

Tomorrow I may be the victim of the bus ....Not Lol

[Anonymous]

whatever you say sir.

[Anonymous]

Frankly, I don't need a fraction of the credit I have. I utilize very little of it. In the near future I will need to prove that I have been responsible with absurd levels of credit, for a business loan, which will be for at least 2m. IOW, it is my goal that the UW department sees that I have $500k in signature credit.

[Anonymous]

Goals.

I don't ever want to hit my Lending Ceiling with any company.  I'm aiming for 2 cards per Company total.  Which is gonna blow chunks when I get to the Hotel Card level in 2-3 years, but I'll cross that bridge when I get there.  Cash Back level complete. Travel is next.  I have 5 cards as of this post. Store 2. 7 total.

[UncleB]

Pretty much all the reasons to have multiple cards have already been stated, but I'll just add that for me it's diversification and to maximize rewards. 

Diversification is a big deal to me since I've experienced the 'heavy hand' of unexpected AA before - by having a card declined at the register - and I was very thankful to have one from another lender to use and never miss a beat.  It was a long time ago, but it "left a mark", so to speak.  Since that time I've had other cards declined but when I would check with the CSR, they showed no decline in their system - actually no swipe at all, and told me it must be a technical glitch somewhere.  In these cases even though it actually wasn't the fault of the issuer, it was still good to have an alternative way to pay.

As for cash rewards, I'm in for the 'long haul'... even if rewards are slow to build, that's OK with me.  Once rewards accumulate to $50 or so I stash them away on my Serve account, so they stay out of sight.  Eventually I'll treat myself to a new laptop, but there's no rush.  Sam's Club MC, which has (surprisingly) become my primary rewards card, will only allow you to 'cash in' your rewards once a year, but for my purposes that actually works out quite well.

[jeffery581]

RE:

well, now that all the churners answered, here's a realist approach: typically the "right" 3-4 cards will be very beneficial. granted if you travel a lot and enjoy free travel then get a card for the spend bonus and then it may not be used much after that. if you spread your spend over too many cards then the rewards will add up slowly on each and it may take longer to redeem.as to having fewer cards with high limits vs more cards with lower limits that depends on your personal values. i have 13 cards but over half of them will never be swiped again. your financial plan determines what cards you use for what, but essentially (unless you have high spend) using more than 4 a month really slows down your earning potential per card. yes, per transaction you get more "rewards" but it's a slow slow process. YMMV but i like a simple system overall

Call it want you want. If a company is going to offer rewards and offers for MY business, I might consider it. That's called capitalism and marketing.

That's also like saying: dang all these sales hunters are just in it to save money. Well DUHH.

You are also implying we unrealistic.

Not a very nice thing to say. Whats wrong with people and lack of common courtesy? 

[jeffery581]

a Dress made with amex cards. TO funny. Especially for here. LOL

[redpat]

---

@Anonymous wrote:

Frankly, I don't need a fraction of the credit I have. I utilize very little of it. In the near future I will need to prove that I have been responsible with absurd levels of credit, for a business loan, which will be for at least 2m. IOW, it is my goal that the UW department sees that I have $500k in signature credit and I didn't F it up.

---

FYI, commercial lenders hate individuals with large CC exposure.

Commercial lending is a different world than getting CC.