cancel
Showing results for 
Search instead for 
Did you mean: 

Too Many Cards in Physical Wallet?

tag
Anonymous
Not applicable

Too Many Cards in Physical Wallet?

Hi, everyone.

 

I have four credit cards (three Mastercards and one AMEX) in my physical leather wallet.

 

Each has a specific use:

AMEX BCP: 6% grocery, 3% gas

Chase Flex (currently have Freedom but will PC on 9-13-20): 3% on dining and drugstores

Target Redcard: 5% at Target

Citi DC: 2% on everything else

 

As said, each card has a specific purpose. I could leave Target at home since we go maybe once a month.  I like credit cards, and have OCD, and that is why I carry all four.

 

Does it look, from a security/fraud standpoint, that I should carry less?

 

Thanks!

Message 1 of 13
12 REPLIES 12
Brian_Earl_Spilner
Credit Mentor

Re: Too Many Cards in Physical Wallet?

Not sure how security or fraud would have to do with anything unless you lost your wallet or got pickpocketed.

    
Message 2 of 13
Anonymous
Not applicable

Re: Too Many Cards in Physical Wallet?


@Brian_Earl_Spilner wrote:

Not sure how security or fraud would have to do with anything unless you lost your wallet or got pickpocketed.


Except those scanners that swipe your card while they are still on your wallet while riding the subway or bus or walking down the street. Don't know too much about it, but aren't we supposed to be using RFID wallets that prevent that?

Message 3 of 13
SecretAzure
Valued Contributor

Re: Too Many Cards in Physical Wallet?


@Anonymous wrote:

@Brian_Earl_Spilner wrote:

Not sure how security or fraud would have to do with anything unless you lost your wallet or got pickpocketed.


Except those scanners that swipe your card while they are still on your wallet while riding the subway or bus or walking down the street. Don't know too much about it, but aren't we supposed to be using RFID wallets that prevent that?


Those RFID things aren't all they're cracked up to be. Yes, they technically can provide a slight security benefit in the very unrealistic scenario you're describing. Here is what The Wirecutter has to say regarding RFID (you may have to scroll down to the bottom).

https://www.nytimes.com/wirecutter/reviews/best-slim-wallet/

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MCMust garden until 2/1/2022 to hit my goal AAOA. Smiley Indifferent
Message 4 of 13
Ficoproblems247
Valued Contributor

Re: Too Many Cards in Physical Wallet?

Do you mean "Look" fraudulent as in if you got stopped by the po-po they'd be suspicious? Nah. As long as they all have your name on them you're all good. I carry 7 credit cards and 3 debit cards in my wallet. They all have my name except my DDs debit card. She's 11 and doesn't like to carry it herself. I've never sweated having all my cards on me all the time. 



FICO 8 EX 836 EQ 838 TU 831
TCL $223,100
Message 5 of 13
sxa001
Valued Contributor

Re: Too Many Cards in Physical Wallet?

Personally I don't carry all my cards in my physical wallet because I have switched from the George Contanza wallet to a slim card wallet.  I am not worred about fraud, if someone wants your information they will try to get it, there are skimmers everywhere.  I had my Citi Costo compromised earlier this year and seem to get hit about once a year with some card because I use cards for everything.  They have news reports about gas station skimmers here almost every week some new station (and we are talking legit stations not shady places) had a skimmer.  I was hit with Home Depot and Target breaches, too.

Back to the point, the only thing I would suggest is leaving your debit card at home if you can.  Even though debit cards have some of the same protections as credit cards these days, I don't really need to carry it out.  I can access the ATM for my bank using my virtual card if needed, but only get cash once a month (and I haven't had to get cash during the pandemic because we aren't really going out).  

I also have 11 credit cards so I do rotate what is in my wallet.  Right now I do have the Delta AMEX, Discover, Citi Costco and my NASA Federal in my wallet. NASA I have just been trying to show some love, even though the points aren't worth much. 

I will also add, I use Google Pay any place that will accept it and have a Fossil watch that supports it.  In my virtual wallet right now I have the AMEX Every Day, Citi Costco and Discover.  I am not sure why I removed the CSP from it, I should consider adding it back in.  I will have to see what will happen to that card next year when my AF is due up again.


Message 6 of 13
Anonymous
Not applicable

Three Credit Cards

Hey!

 

I have only three credit cards (Chase Freedom Flex, AMEX BCP, and Citi DC).

 

All are used for different rebate categories (e.g., groceries, dining, drugstores, and Everyday spend).

 

Currently, I am carrying all three in my "physical" wallet, becuase each offers something that I can use.

 

I am wondering if carrying all three is a good idea, in case my wallet is lost or stolen.

 

I do NOT want any credit cards on my cell phone, as I am not comfortable with that.

 

My wife has Costco Visa and AMEX BCPO with a different credit card number (but same account) than I have, so it would not be a total disaster. We could use her cards until I get replacements.

 

Any thoughts on my question?

 

Have a blessed, healthy day !!Smiley Happy

 

Message 7 of 13
Kforce
Senior Contributor

Re: Three Credit Cards

 

I would not get a new card that I really did not need with the excuse of it being my emergency card.

 

Most issuers will get you a new card in 3-4 days

Maybe stash some cash and a debit card for an emergency

 

There are however many special category cards that mostly live in a sock drawer that might serve two purposes.   Cards like US-Bank Cash+, and many others.   Card is never in pocket just attached to streaming, phone, utilities.

 

Message 8 of 13
Anonymous
Not applicable

Re: Three Credit Cards


@Anonymous wrote:

 

Currently, I am carrying all three in my "physical" wallet, becuase each offers something that I can use.

 

I am wondering if carrying all three is a good idea, in case my wallet is lost or stolen.

I have 4 cards, MC/Visa/AMEX and Discover and I've had them all in my purse since I got Amex/Discover last year.

I kept my debit card at home, thinking of it as the safe fallback.

 

You got me to think about how wrong this is. lol

 

I always know when and where I'm going to buy something, so it really makes no sense for me to have them all with me all the time.

For instance, grocery shopping day - Costco Visa and AMEX BCE, leave MC and Discover behind.

Message 9 of 13
Anonymous
Not applicable

Re: Three Credit Cards

That's a good plan.

 

In my case, the least useful of the three cards has to be my Freedom Flex.

 

It gives quarterly promotions, which have not fit my spending. In the one or two quarters where it has been relevant, I know when I am going. Home Improvements is a category where I can take the card with me when I go. I never "drop in" to a home improvement store spontaneously. ATT in the first quarter of this year I just signed up for, and the next three monthly bills went to Chase FF rather than my Citi DC. Gas is meaningless to me, because I am retired and don't drive that much anymore. AMEX BCP gives 3% on gas.

 

CFF also gives 3% on dining and drugstores, and I (almost) always know when I am going, and can take the card at that time.

 

Citi DC gives me 2% on everything and AMEX BCP gives me 6% on groceries, so I will carry them and leave CFF at home.

 

I have Target Redcard and that gives 5% at Target, and I will carry that also.

 

Thanks for your input!!

Message 10 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.