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How many credit cards do you have?

RT209
Established Member

How many credit cards do you have?

How many is too much? I have a total of 14 cards, totaling up to almost 130K in credit limit between all cards. My utilization all together is only around 4%. Obviously, I don't need any more cards, but the urge to grab more utilization when i can gets me every time. Haha. 

Message 1 of 48
47 REPLIES 47
RLFLOWS
Established Member

Re: How many credit cards do you have?

I have 12 credit cards with $61,000 total limit. Had to rebuild 3 years ago from poor credit. Highest limit is $21,500 Navy Platinum but my lowest limit is a mere $200 Citibank card which started as a secured card. Finally unsecured 4 months ago but no credit line increase. Would close it but it's my 2nd oldest card.

Message 2 of 48
Taurus22
Valued Contributor

Re: How many credit cards do you have?

That's a loaded question. It depends on how you manage your credit and your cards and the purpose you have for each individual card. Some people like to "collect" cards. See @Gmood1  (I think at last count he was sitting on about 68 cards in his siggy?)  But everyone has their own agenda. Some people like a lot of Travel cards for mileage points. Some like myself, are Cashback junkies who want to restrict themselves to as few cards as they can while covering their cashback needs.

 

Ex: Currently I have 10 cards, as you can see from my Siggy below. I am planning to acquire 3 more at this point. However, the 3 cards in my sock-drawer will be going away.....Uber will be replaced by Elan Max Cash, Citi DC will hopefully be PC'ed to the Custom Cash, I'm also adding US Bank AltitudeGO, and I'll be closing the First Citizens card altogether. That will keep me at 10 cards, but all of my major annual spend will be covered with the best cashback cards I can get for those categories. (Until something new comes along)

 

[Obviously, the ones in red I haven't app'ed for yet]

 

Annual Spend.PNG

 

The only thing I don't really have covered is Travel....but I don't travel enough to make a dedicated card worthwhile. Some of my other cards have the versatility to be used for Travel should I need it, such as BoA Cash Rewards and AOD Visa @ 3%.

 

Once I have the 3 cards I need, I will focus more on getting CLI's on my existing cards to increase my overall CL and keeping tabs on possible back-up cards for these in case one gets discontinued, etc.

 

But this is my methodology. Everyone is different and has different needs and/or objectives. So, to ask how many is too many......is entirely up to you.

Current Wallet
Sock Drawered

On Deck:
Message 3 of 48
csryang
Frequent Contributor

Re: How many credit cards do you have?

I have over 30 cards. It's all subjective... I tend to keep all cards without annual fees, but I might one day downsize...

Message 4 of 48
csryang
Frequent Contributor

Re: How many credit cards do you have?


@Taurus22 wrote:

That's a loaded question. It depends on how you manage your credit and your cards and the purpose you have for each individual card. Some people like to "collect" cards. See @Gmood1  (I think at last count he was sitting on about 68 cards in his siggy?)  But everyone has their own agenda. Some people like a lot of Travel cards for mileage points. Some like myself, are Cashback junkies who want to restrict themselves to as few cards as they can while covering their cashback needs.

 

Ex: Currently I have 10 cards, as you can see from my Siggy below. I am planning to acquire 3 more at this point. However, the 3 cards in my sock-drawer will be going away.....Uber will be replaced by Elan Max Cash, Citi DC will hopefully be PC'ed to the Custom Cash, I'm also adding US Bank AltitudeGO, and I'll be closing the First Citizens card altogether. That will keep me at 10 cards, but all of my major annual spend will be covered with the best cashback cards I can get for those categories. (Until something new comes along)

 

[Obviously, the ones in red I haven't app'ed for yet]

 

Annual Spend.PNG

 

The only thing I don't really have covered is Travel....but I don't travel enough to make a dedicated card worthwhile. Some of my other cards have the versatility to be used for Travel should I need it, such as BoA Cash Rewards and AOD Visa @ 3%.

 

Once I have the 3 cards I need, I will focus more on getting CLI's on my existing cards to increase my overall CL and keeping tabs on possible back-up cards for these in case one gets discontinued, etc.

 

But this is my methodology. Everyone is different and has different needs and/or objectives. So, to ask how many is too many......is entirely up to you.


Why are you adding altitude go for its 4% on dining vs 5% custom cash?

 

Also I thought Amex BCP 6% supermarket does not seem to cover Walmart, does it? So I hope you have better cards covering Walmart expenses.

Message 5 of 48
AMJ50
Valued Member

Re: How many credit cards do you have?


@RT209 wrote:

How many is too much? I have a total of 14 cards, totaling up to almost 130K in credit limit between all cards. My utilization all together is only around 4%. Obviously, I don't need any more cards, but the urge to grab more utilization when i can gets me every time. Haha. 


 I have 18 cards, and it's just too many to juggle. This is my third rebuild, so once I started getting approvals, I went app crazy. I added my sister as an AU to one of my oldest cards Macy's and I added an AU to Target for my niece. I just ask them to use the card and get things they may need, instead of me having to buy stuff for no reason. I am going to cancel about eight cards in about a year. I just wanted avail credit over $50000. Macy's NFCU Cash Rewards Amex More Rewards Venure One Mission Lane NFCU Platinum Quicksilver Ollo Hilton Amex PayPal Cash Rewards Amazon Banana Rep PaypalCredit BOA Target Nordstrom

Message 6 of 48
SunriseEarth
Moderator Emeritus

Re: How many credit cards do you have?

Too many cards is more cards than you can manage.   I'm sure my lineup would be too much for many people, but it might not be enough for others.  



Start: 619 (TU08, 9/2013) | Current: 788 (TU08, 10/6/21)
AMEX Cash Magnet $64000 | Discover IT $46000 | BofA BBR #1 $43900 | BoA BBR #2 $31100 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Sony Card VS $23750 | GS Apple Card WEMC $20000 | Freedom Flex WEMC $20000 | Cap 1 QS WMC $17250 | Disney VS $15000 | FNBO Evergreen VS $15000 | Target MC $14500 | Amazon VS $12000 | WF Active Cash VS $12,000 | Jared Gold Card $12000 | Citi Custom Cash MC $11600 | AARP VS $8800 | Belk MC $3800 | ~~
Message 7 of 48
mark3038
Established Contributor

Re: How many credit cards do you have?

I have 69 credit cards with total CL's of $905,500. I only pay an annual fee on one card. My Barclays Luxury Card. 

I also have 27 debit cards for checking and savings accounts.

Out of all the cards that I have only one is a store card. My Home Depot card. Many of my cards are co branded like my Citi Best Buy Visa etc.

It is a lot of work to keep so many cards in check so I am not going to add any more. I keep saying that but I do anyway LOL

Thanks

Mark

Please note; My postings are my opinion only. They may be fact or fiction. You can accept them or reject them. Thanks, Mark
Message 8 of 48
Shooting-For-800
Senior Contributor

Re: How many credit cards do you have?

I have too many honestly.

I have $400k+ and might close a few lower limit ones in the future if they don't grow.

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture


Message 9 of 48
Morehouse3000
Established Contributor

Re: How many credit cards do you have?


@RT209 wrote:

How many is too much? I have a total of 14 cards, totaling up to almost 130K in credit limit between all cards. My utilization all together is only around 4%. Obviously, I don't need any more cards, but the urge to grab more utilization when i can gets me every time. Haha. 


I have about 25 which includes two lines of credit.   All total around 260K in credit.   I might be done applying for credit cards.  lol

Message 10 of 48
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