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The “one of each” strategy?

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Community Leader
Senior Contributor

Re: The “one of each” strategy?


@Kforce wrote:

For 20+ years I only had a Visa. ( Survived just fine)

I get cards for rewards, benefits and needing a few for credit scores.

I think it wise to have a Visa & MC, others optional.

If not for the way credit scores are calculated, I would just have a Visa and MC.

Nothing wrong with wanting/having all issuers or many cards, but sure not a necessity.

Never been told that I needed an Amex or Discover for payment.

 

 


Exactly. If you have an MC and a Visa, one of them will be accepted no matter where you go. Amex and Disco are still not accepted at some places. 

Discover It: 19.7k
Amex ED: 18k
Citi DC: 7.7k
Best Buy Visa: 3k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 21 of 44
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Established Member

Re: The “one of each” strategy?


@ImTheDevil wrote:
I have AmEx and Disco, and all my others are MCs. I have a debit card on the Visa network. When I was just out of college I remember every card I ever saw advertised was a Visa, and now it seems like many more are MC. I would like to get a Visa to complete the quadfecta at some point though.

+1

 

I thought I would definitely get a Visa as one of my first CC out of college. Now, the only network my current profile isn't qualified for is Visa. That's not really true but the Visa cards I want are Chase and US Bank Cash + and both are tough nuts to crack.

Message 22 of 44
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Frequent Contributor

Re: The “one of each” strategy?

I have the one each strategy going with payment networks and banks.....

 

 

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Message 23 of 44
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Super Contributor

Re: The “one of each” strategy?


@pinkandgrey wrote:
I’ve heard several people say they feel like it’s important to have a card from each of the major networks—Amex, Disco, MC, and Visa. My OCD self can totally understand, but I’m curious about what you all think. Is there really something to this?
DEBATE AWAY

I do feel the need to have at least one Mastercard or Visa in my wallet, but I don't feel the need to have a Discover or an Amex.


Total revolving limits 653000 (575000 reporting)

Message 24 of 44
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Super Contributor

Re: The “one of each” strategy?

At least in the US, the "one of each thing" is pretty much entirely just (and I mean this in the nicest way possible) an OCD thing and not necessary at all. I can assure you the general public isn't thinking about these things and gets through life just fine.

 

Visa and MC are interchangeable 99% of the time. There isn't really a "need" for a Discover for any specific purpose that I can think of. Amex isn't taken everywhere, so you certainly do not need one.

 

I think it's much, much more important to focus on card benefits rather than network. Don't collect a card from each network just because. It's totally unnecessary and I will disagree with the above post that calls it important - I just don't see it.

Message 25 of 44
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Community Leader
Mega Contributor

Re: The “one of each” strategy?


@Meanmchine wrote:

Why stop at one of each ... I say at least 2 or 3 of each Smiley Happy


NOW THIS IS A TRUE MFer😄😁

Message 26 of 44
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Community Leader
Mega Contributor

Re: The “one of each” strategy?


@Shooting-For-800 wrote:

Makes me feel better.  

 

Have been in places that required a certain pay.

 

Sams, Costco, hair dresser, out of country, etc.

 

Makes me feel better to have the big four in my wallet:  MC, Visa, Amex, Discover.

 

I am lucky to have large limits on MC, Visa, and Discover also and DW has large limit on Amex.

 

I also carry $100 on me, $100 in my wallet, and $100 in each car in cash in small bills.

 

Never really have to worry about a weird situation popping up.

 


Inquiring minds want to know where the fico you b stashing that other hunsky thats not in your wallet?😆😈

Message 27 of 44
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Community Leader
Mega Contributor

Re: The “one of each” strategy?

I want to have "THE BIG FOUR" so i can join the Avengers Universe and seriously FICO Thanos upSmiley Happy
Message 28 of 44
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Valued Contributor

Re: The “one of each” strategy?


@pinkandgrey wrote:

@Kforce wrote:

For 20+ years I only had a Visa. ( Survived just fine)

I get cards for rewards, benefits and needing a few for credit scores.

I think it wise to have a Visa & MC, others optional.

If not for the way credit scores are calculated, I would just have a Visa and MC.

Nothing wrong with wanting/having all issuers or many cards, but sure not a necessity.

Never been told that I needed an Amex or Discover for payment.

 

 


Exactly. If you have an MC and a Visa, one of them will be accepted no matter where you go. Amex and Disco are still not accepted at some places. 


That may not be entirely true...I know a few years ago Costco only accepted AMEX, because they had a contract with them. I am sure there may be other places that have a contract to only accept that networks cards. It is for sure very rare that they wont accept either MC or Visa if they accept credit cards.

TU fico08=822 08/24/20
EX fico08=816 08/24/20
EQ fico08=831 10/06/20
EX fico09=825 10/03/20
EQ fico bankcard08=852 07/28/20
TU Fico Bankcard 08=854 09/23/20
EQ NG1 fico=786 07/18/20
EQ Resilience index score=59 08/24/20
Unknown score from EX=784 used by Cap1 07/10/20
Message 29 of 44
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Valued Contributor

Re: The “one of each” strategy?

I knew it would not take long for some of the full deck crowd to chime in. A deck of playing cards has 52 cards, and a lot of people think any less than 52 means you do not have a full deck.


@Meanmchine wrote:

Why stop at one of each ... I say at least 2 or 3 of each Smiley Happy


 

TU fico08=822 08/24/20
EX fico08=816 08/24/20
EQ fico08=831 10/06/20
EX fico09=825 10/03/20
EQ fico bankcard08=852 07/28/20
TU Fico Bankcard 08=854 09/23/20
EQ NG1 fico=786 07/18/20
EQ Resilience index score=59 08/24/20
Unknown score from EX=784 used by Cap1 07/10/20
Message 30 of 44
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