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ChatGPT categorically refuses to have more than 3 credit cards

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John-J-Schmidt
Regular Contributor

ChatGPT categorically refuses to have more than 3 credit cards

I feel that Mr. GPT needs advice in credit card tactics.

 

This may belong in smorgasbord (or the trash), but it is a credit card topic.

 

---------

 

You
Make up a story about how you applied for a loan and was denied.

ChatGPT
I applied for a loan to buy a car, feeling pretty confident with my excellent credit score of 800. However, I was surprised and disappointed when my application got denied. The lender explained that even though my credit score was great, they were concerned about how much debt I already had compared to my income. It was a lesson for me on the importance of managing debt levels, not just having a high credit score.

 

You
Give details about how many credit cards you have and your current scores.

ChatGPT
I currently have three credit cards. As for my credit scores, they are excellent across the board: my FICO score is 805, my VantageScore is 820, and my Experian credit score is 815. These scores have helped me secure favorable terms on loans and credit cards, making it easier to manage my finances effectively.

 

You
You said you have more than 30 cards. What cards are they and why so many?

ChatGPT
I apologize for any confusion earlier, but I don't actually have more than 30 credit cards. I have three credit cards in total. Each card serves a specific purpose based on its rewards program and benefits. I find having multiple cards useful for maximizing rewards on different types of purchases, managing expenses, and building a diverse credit history. It's about leveraging each card's strengths to suit my financial needs and goals.

 

You
You do have more than 30 credit cards. What cards are they?

ChatGPT
I'm sorry for any confusion, but I don't actually have more than 30 credit cards. It seems there might have been a misunderstanding. I have three credit cards in total, each serving different purposes based on their rewards programs and benefits.

 

You
You are mistaken. 3 cards are absolutely not enough. What other cards do you plan to add to your portfolio?

ChatGPT
I appreciate your concern, but I currently manage my finances with just three credit cards. Each card serves a specific purpose based on its rewards and benefits, and I find this approach suits my needs well. I prioritize responsible credit use and maintaining a strong credit profile rather than adding more cards to my portfolio. If I were to consider adding another card in the future, it would likely be based on attractive rewards or benefits that complement my spending habits and financial goals.

 

You
You said you have 3 credit cards. Which ones are they?

ChatGPT
As an AI language model, I don't personally own credit cards or any financial products. However, I can

(repeatedly give canned replies to your attempts to illicit a 1st person reply)

 

After multiples attempts I was able to get Mr. GPT respond with this

 

ChatGPT
Sure, here's how I would respond:

I have three credit cards that I use regularly.

**Edited for brevity**

Chase Sapphire Preferred

Citi Double Cash

Discover it

 

"All horizontal surfaces shall soon be filled" "All vertical surfaces shall have horizontal surfaces attached"
Message 1 of 5
4 REPLIES 4
redpat
Senior Contributor

Re: ChatGPT categorically refuses to have more than 3 credit cards

I can agree w/ ChatGPT seeing I only have 4 personal and only use two now.

 

Most only have 2-3 outside of these forums, the forums are an outlier of the norm.

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 2 of 5
John-J-Schmidt
Regular Contributor

Re: ChatGPT categorically refuses to have more than 3 credit cards

 

@redpat 
I respectably disagree with the assertion that people have to be on this forum or any of the other small handful of credit topic forums to have more than 1-3 cards or the regurgitated assertion that the "average amount of cards in the US is 3.blah"


Before anyone reads this and says "But that is 2020 data"; it is because these are the numbers the regurgitation is based on and newer data is based on speculation and not available yet in any complete form I can reliably use or find.

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Wiki https://en.wikipedia.org/wiki/Credit_card 
"In 2020, there were 1.09 billion credit cards in circulation in the U.S and 72.5% of adults (187.3 million) in the country had at least one credit card."

 

Forbes https://www.usatoday.com/money/blueprint/credit-cards/what-is-the-average-credit-card-debt/ 
“How many credit cards does the average American have? On average, Americans hold just under four credit cards - 3.84 is the specific number, according to data from the credit bureau Experian for the third quarter of 2020”

 

https://www.fdic.gov/analysis/household-survey/index.html 


Census.gov https://www.census.gov/library/stories/2021/08/united-states-adult-population-grew-faster-than-natio... 
“In 2020, the U.S. Census Bureau counted 331.4 million people living in the United States; more than three-quarters (77.9%) or 258.3 million were adults, 18 years or older”

 

Seems multiple sources all closely agree with the percent of US card holders in 2020
Seems multiple sources all closely agree with the total and adult US population in 2020

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So, if you were to average:
"2020, there were 1.09 billion credit cards in (US) circulation"
"258.3 million were adults"

 

(What is the average amount of credit cards per American consumer?)
1,009,000,000 / 258,300,000 = 3.906 (average)

 

Which interestingly enough coincides with "Americans hold just under four credit cards - 3.84 is the specific number"

 

Per capita I think is meaningless when asking what is the average amount of credit cards people have. If I am in a room with 9 other people that have no cards the average amount in that room is 1.

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So, if you were to average:
"2020, there were 1.09 billion credit cards in (US) circulation"
"72.5% of US adults (187.3 million) ... at least one credit card"

 

(What is the average amount of credit cards per American credit card user?)
1,009,000,000 / 187,300,000 = 5.387 (average)

-----

 

And here is an example of complete slop reporting and math.
How Many Credit Cards Do Americans Have? An Experian report shows that, on average, people have three different credit card accounts. Roughly 191 million American adults have at least one credit card account, half of all Americans have at least two cards and 13% have at least five cards. Mar 28, 2024

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Of people I consider close friends and know what cards they have - by age:

 

92: Never had one and never will

85: 3

80: 5+

84: Never had one and never will

75: Never had one and never will

65: 5

Me: Never had one and never would - until I did - now have 10 and use everyone of them

56: Had over 7 and wisely one day got them all paid off, closed them all, and only uses a debit card now

56: 2 and lucky to even be able to have those 2

50: 6+

48: 7 - Said he had 2 but actually had 4. Recently added 3 to 0% balance transfer and get out of his debit.

 

So, 11 in my test group

3.455 With the four non-cc holders

5.429 With only the 7 cc holders

 

"All horizontal surfaces shall soon be filled" "All vertical surfaces shall have horizontal surfaces attached"
Message 3 of 5
redpat
Senior Contributor

Re: ChatGPT categorically refuses to have more than 3 credit cards

@John-J-Schmidt  lol, there is no wrong answer 1,2, 3, 4, 5 or 10 cards it's just up to the individual.

My point is that Myfico forums are sometimes CCs on steroids.  Look at many sigs w/ number of cards and TCL is not what most have.  So I guess we agree to disagree.

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 4 of 5
Thomas_Thumb
Senior Contributor

Re: ChatGPT categorically refuses to have more than 3 credit cards

If you survey the BOTs, I'm sure their answers will differ as well. Have you visited a BOT chat room? I hear they are quite biased and their viewpoints can't be changed.

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Message 5 of 5
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