I have 12 credit cards but out of that I only run a balance on 5 of them. TCL across the 12 is $222,600.
4 of them I PIF every month, the other one is a store card that I have a 0% APR promotion.
I pay $389 in AF across all that cards but that includes:
-Amazon Prime yearly membership ($119)
-Free night at Hyatt ($150-$350)
-Uber Eats pass ($120)
-AMEX offers ($50-$100)
-Chase offers ($50-$100)
-Loungebuddy ($100)
Conservatively at least $589 of direct perks against the $389 in AF that I pay.
@Citylights18 wrote:I have 12 credit cards but out of that I only run a balance on 5 of them. TCL across the 12 is $222,600.
4 of them I PIF every month, the other one is a store card that I have a 0% APR promotion.
I pay $389 in AF across all that cards but that includes:
-Amazon Prime yearly membership ($119)
-Free night at Hyatt ($150-$350)
-Uber Eats pass ($120)
-AMEX offers ($50-$100)
-Chase offers ($50-$100)
-Loungebuddy ($100)
Conservatively at least $589 of direct perks against the $389 in AF that I pay.
What card gives you an Amazon yearly membership?
I have 4 and 1 AU. I'm actually really overwhelmed and want to be down to just 2 or 3. I plan on downgrading my Amex Gold to the Green next year and downgrading my Delta Gold to the no fee Delta Blue or maybe just axing it all together. I can't juggle multiple cards. I have balances on every single one. Nothing too crazy, a couple hundred on each. But my plan is to sock drawer every single one minus the Amex charge and just use that. Kudos to those that can swing it. I just find it too much for me personally.
I currently have 21 cards including one AU card that is not in my siggy and that I may not retain long term. I've had credit cards for over 35 years and this is BY FAR the most cards I've ever had at one time. Over time however, I've probably closed (or had closed) many more total cards than I have now for various reasons. I have more cards now because I started redefining my card lineup a few years ago and got on My Fico, where I got a little carried away by the MY FICO EFFECT. Lol My total credit limits are $588K, which is also BY FAR the largest in my life and honestly much more than I really need.
I've experienced 21 cards and decided that even though that pales in comparison to some of our other members, it's more than I want to manage for the long term. My goal has been to get very high limits with very few cards, and I've generally achieved that so far. My average limit is about $28K but I want to drive it even higher. While I do plan to add a few cards, I also plan to consolidate or close others so that in the end, I'll have no more than 12-15 cards. Maybe less.
I toyed with the idea of as little as three very-high limit cards by consolidating what I could on some of my best/favorite cards and closing others. I could do it tomorrow if I wanted to, but I don't really want to pare down to that degree. I like the lender diversity, among other things, including the ability to get even better rewards with a few more cards.
My fewest high-limit card lineup would be:
American Express Gold (NPSL and $18K Pay-Over-Time)
Chase Sapphire Reserve Visa Infinite ($127.4K CL)
Bank Of America Premium Rewards Visa Signature ($99.9K CL)
If I wanted to add in a Mastercard and Discover for more network Flexibility, I could add my:
Goldman Sachs Apple Mastercard ($30K)
Discover IT ($50K)
While it's a very clean lineup, and I have to admit it's quite tempting, I doubt that I would ever take things to that degree slimming down.
@GatorGuy wrote:
@Citylights18 wrote:I have 12 credit cards but out of that I only run a balance on 5 of them. TCL across the 12 is $222,600.
4 of them I PIF every month, the other one is a store card that I have a 0% APR promotion.
I pay $389 in AF across all that cards but that includes:
-Amazon Prime yearly membership ($119)
-Free night at Hyatt ($150-$350)
-Uber Eats pass ($120)
-AMEX offers ($50-$100)
-Chase offers ($50-$100)
-Loungebuddy ($100)
Conservatively at least $589 of direct perks against the $389 in AF that I pay.
What card gives you an Amazon yearly membership?
This year NFCU Flagship reimbursed membership if you paid with the card.
@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.
My Sig tells no lies
i have 13 plus 2 LOC totalling $245k CL
i closed 4 in 2019
in addtion to the 4 that Sync closed for me, i closed my Wells Fargo CC and LOC in 2020 (moved to US Bank. -no more Wells accts needed)
I did get 3 new ones this year that suit my spending better - ultimately i would like to be down to about 8 or 9, so i am working on pushing up the CL on the ones that i can
i have a good spread across the lenders - a couple seem strange, but i like CU1 for their car loan refinancing - so i keep their $9k CC
I will see what is happening with HSBC before i close down that LOC and CC
i do find it a small challenge to manage - but not too much or i would start closing more
@Aim_High
You may want to add into your mix aesthetics! Keep some eye appeal?
@Anonymous wrote:@Aim_High
You may want to add into your mix aesthetics! Keep some eye appeal?
Thanks @Anonymous but not sure: do you mean more colors for eye appeal or just not so few cards?! Those five from the aesthetics standpoint would give me a gold, blue, grey, white, and garnet so it would seem a little more mixture than my previous color pallette of blue and silver/grey!