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]
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.
On Deck: New Truck Oct. '23
@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]
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.
I have too many honestly.
I have $400k+ and might close a few lower limit ones in the future if they don't grow.
