Number of credit cards

[chicklets123]

How many do you have? Do you like to keep to one card for the pts or do you utilize a few to maximize the pts?


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[erutio]

For personal spend, many different cards to maximize the rewards for different categories.

In general, we now have 20+ cards, thanks to arebelspy starting the original tradeline selling thread.

[chicklets123]

How do you manage all the cards?


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[Raenia]

I have 4 cards right now, and my spending is based on tracking different things with different cards rather than chasing bonuses or the most points.

1. My oldest open account - In order to keep this account active, I put personal recurring payments on this card (mostly charity).
2. My personal card - The card I use for most personal spending.  Better points than (1).
3. Joint card with DH - Pretty good rewards card connected to our joint bank account.  Household spending goes on this card.
4. Backup joint card - Not as good points, but has a higher limit, so if we need to make a large payment, we can put it on this card and gain some space to transfer money from investments to pay it off.

I'd be fine with closing (4), but DH wants to keep it for security.  Doesn't hurt anything.

[Sugaree]

I have three that I use regularly (the Chase UR family) and a handful that I've used for different things.  I should probably close some of those down, but I don't want to mess up my age of accounts.  I've got a few that I am looking at applying for in the future for a trip we're planning.

[Zikoris]

We only have two - one for normal stuff and one for overseas travel that has no foreign exchange fees. Anything else is just too much trouble for us. We try to keep our finances extremely streamlined, simple, and low effort.

[OtherJen]

We use 3 regularly. I put little labels on them to indicate the cash back rewards. We use the Costco Visa for gas (4% cash back), restaurants and travel (3%), and Costco (2%). The Capital One card is used for almost everything else (1.5%). The Discover card has different 5% rewards per quarter (right now, it's grocery stores), so we use that card only for those purchases. All get paid in full every month.

We're planning a big trip next year, so we might open a travel card for the points.

[CodingHare]

I have three cards.  I found out from a coworker that conventional mortgages expect you to have three lines of credit open as a predictor of repayment.  Which I think is bull.  I had two for years because I don't need more credit.  I suppose most people have two cards and an auto loan, but my car has been paid off for years.

It worked out for the best though: the Capital One card I got for my 3rd line of credit has the best rewards out of any of my cards.  Now I am stockpiling miles for our honeymoon!  I'm hoping that the increased credit limit will improve my credit score, too.

My very first credit card from my credit union has crappy rewards, so I just use it to pay the Netflix bill to maintain activity on it.  I don't even bother carrying it now.

I also have an Amex that I use for groceries and restaurant rewards.

[secondcor521]

How do you manage all the cards?


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I had 23 up until a couple of weeks ago, and I'm currently down to 18, and will drop further to 15 in a few weeks.  The reduction in number is in order to avoid paying annual fees.  I'll probably apply for a few more later this spring to collect some more sign up bonuses.

I don't work too hard on maximizing points from spending, because my (organic) spending is low enough where I wouldn't get much benefit to make it worth it.  I am currently using a 1.5% cash back on everything card as a lazy effort at low-hanging fruit.

Mostly I focus on sign up bonuses from the usual places, and TL sales.  I also do bank bonuses, and occasionally there are some crossover benefits between credit cards and bank bonuses.

I manage them using a systematic approach supported with multiple Excel spreadsheets.

[ducky19]

Currently sitting at 40 between the DW and I, though I only use one at a time for spending to meet bonus requirements. I do use many of the others for tradeline sales, but typically have just one small purchase or one recurring purchase on those. I use a spreadsheet to keep track of everything, doesn't take much time. I've made over $15k in tradeline sales in the past several years and have gotten at least that much in bonus value from our different cards.

[Much Fishing to Do]

I like whatever is simplest.  Once ATM cards became "check cards" it took away my reason for having two (I liked having a second for when the first wouldn't work, like when the CC co was blocking b/c I was on a trip or the like under whatever fraud protections they do).  Once my oldest kid was driving and I wanted them to carry one I found it easiest to just get a second one I dont use and let the kids be authorized users of it just to keep things straight between "our" spending and "theirs".  I thought about using specific ones for their specific good rewards categories but last time I looked it seemed like those great 4%/3% back ones were tightly limited annually so the benefit was marginal.

[martyconlonontherun]

Try a new one every 3 months splitting between me and my wife. Try to stay in the Chase family so they only show up on two accounts. Using it for travel points.

[Car Jack]

22 active right now.

3 or 4 that we use for rewards, although all of them give something.  Since many of them have non-public promotions, I re-assess every quarter.  For 3/4 of last year, I'd only use the "right" card for 10% back.  Now, I have 3 cards giving me 5% back.

I have a spread sheet to keep track of closing dates and last purchase date for tradeline sales and low balance forgiveness.

There are some useless cards in the mix that give me no extras back, so they just sit gaining age.

I'm one of those who tapes on the card notes of percentage back and on what.  For example, a couple months ago, it was 10% back on restaurants, gas and groceries.  Since grocery stores sell gift cards, I could buy gift cards to other places (usually with a bonus for gift card purchase towards gas) and then extend the category to other things.  I bet you didn't know a chainsaw is a grocery.  It is when I'm buying it.  :D

[Wrenchturner]

I think I have eight or so.  Relatively new to the churning game.  I usually have three that are active.

I'm almost finished the amex train so it will decrease in a few months.  Not as many options up here in Canada.

[MyAlterEgoIsTaller]

Six.  I had a few others, but 2 were closed by the issuers for long-term lack of use, and 3 others had all ended up being bought from other card companies by Chase and then Chase sent me a letter saying they were going to pile them all into one card with the cumulative credit limits of all 3 cards, unless I objected, which I didn't. 
Now I have 3 that I use for optimal rewards, 1 that I got recently for the bonus, 1 that I keep open because it has the longest history, and 1 more that's probably at risk of being closed because I never use it.

[SunnyDays]

Two.  One for daily purchases with cash back and one with a higher limit for rare bigger purchases.  I like to keep things simple.  The thought of card churning exhausts me.

[sylpar13]

I have 12 right now. 1 for my business and the rest for personal use. They are all reward cards where you get a percentage based on how much you spend and on what.

I usually open a new credit card when there is a good bonus, like spend $1000 and we'll give you $200.

I use YNAB to keep track of everything and I have notes to remember which one is good for restaurants, travel, etc... Anytime I am going to spend money, I look up which card I should use. I default to the Citi Double Cash (2% rewards) when there is not a good reward with the other cards.

I find it amazing that the total limit on all my credit cards is $80K when I make half of that annually.

[HPstache]

Costco, Alaska & Savor (about to cancel, got some really good perks with this one though!)

[thesis]

Only one. I'm really not a churner, though I get do get 1.5% back on everything I put on the card. I don't spend enough in any one category to really focus on certain cards over others, and even with the one I have, which is connected to my primary bank account, I kind of hate how my balance is never "real-time", I always have to go in and pay the bill off, which could be inaccurate because some charges take days to actually show up. Plus, the fewer online accounts I have, the better.

[Fishindude]

If you do any traveling you really need at least two, because it's not uncommon to have some phony charges on a card and get it shut off.   That could be a real problem if you are traveling and that's why you need the second card.   I've had it happen a couple times.    Our primary card it CITI Mastercard, 2% back on all purchases.

[EliteZags]

those of you tracking closing dates on a spreadsheet do realize you can make all your cards the same closing date right? as simple as sending a secure message saying what closing date you want, can't imagine why anyone would deal with closing dates spread all over each month

[kanga1622]

We currently have 4 cards: oldest, best overall points, best rotating point categories, and a home improvement card with great rewards. We put most everything on the one card unless say gas gets more rewards on the other card.

The 2 most used cards have the same close date. The oldest card gets used once every couple of years just to remain active, and the home improvement card emails me ahead of the deadline so that is my reminder if we have used that recently.

[skip207]

I have 4.
Work, online, personal and spare.
Only one gets some cash back (the work one).

The work one has about 30-50k a year put through it so get a decnet bit of cash back.  The online and personal virtually nothing in the grand scheme of things 2-3k a year tops.  The spare is never used.

[erutio]

those of you tracking closing dates on a spreadsheet do realize you can make all your cards the same closing date right? as simple as sending a secure message saying what closing date you want, can't imagine why anyone would deal with closing dates spread all over each month

The reason I keep my closing dates slightly spread out is so I don't have to add 20 authorized users in a day.  So the spreadsheet helps keep track.

[martyconlonontherun]

those of you tracking closing dates on a spreadsheet do realize you can make all your cards the same closing date right? as simple as sending a secure message saying what closing date you want, can't imagine why anyone would deal with closing dates spread all over each month

I keep a spread sheet to know the anniversary date to close the card if the annual fee is higher than the annual benefits. It also is a good checklist to periodically check non-used cards to make sure no purchases were made/properly on block

[SpareChange]

I have 3 cards. A Cap One Quicksilver card (my oldest), a Nebraska Furniture card I've never used lol, and a Citi Double Cash that I use for just about everything.

I have three cards.  I found out from a coworker that conventional mortgages expect you to have three lines of credit open as a predictor of repayment.  Which I think is bull.  I had two for years because I don't need more credit.  I suppose most people have two cards and an auto loan, but my car has been paid off for years.

Is this three lines requirement broadly true? I'm in a similar boat, in that the only open lines I have are 3 credit cards...one of which I am contemplating closing out since I never use it. My last installment loan was paid off over 5 years ago, and they'll start dropping off soon. I'm not currently in the market for a mortgage, but do like to keep my future options open.

[WSUCoug1994]

Five
Amex Platinum - work
Blue Cash - Gas/Groceries
Costco - Costco Gas/Costco/Dining/Non-points Travel
Sapphire Preferred - almost everything else
Alaska Airlines - most purchases over $250 that aren't listed above - we fly Alaska a lot.

[dummy]

Some of you have 40+ cards?

Wow.

I have 2. One as an emergency only and one as my primary with 2% cash back on everything.

[phildonnia]

How do you manage all the cards?

I have about 20 cards.  I keep one or two of them in my wallet, and the rest in a safe.  So really, it's like having only one or two at any time. 

But even so, I have to be organized.  I keep all the statements in their own folders, and match everything on the statement to a receipt.  Each card has its own account in Quicken, and the reminders tell me when to check for and pay bills.  The online passwords are all stored in LastPass, along with the credit card numbers themselves (so I can actually make purchases on any card online without even needing the physical cards.)

Why have so many?  Mainly because I get them for the account opening bonus and never bother to cancel them.  Note to banks: the promotion works: I keep using that card until another bonus offer comes along from your competitor.

[DadJokes]

those of you tracking closing dates on a spreadsheet do realize you can make all your cards the same closing date right? as simple as sending a secure message saying what closing date you want, can't imagine why anyone would deal with closing dates spread all over each month

I have paid zero mind to when my closing dates are. I set them to pay automatically, and I always have at least a month's expenses in my checking account. I also don't see a reason to track it in a spreadsheet, unless we're talking about minimum spend for bonuses.

[alsoknownasDean]

One.

All of the credit cards with rewards have an annual fee that makes the rewards not worthwhile unless spending a lot. I'm not in a position to churn cards for introductory offers (looking to get a mortgage soon and don't want to trash my credit), so I'm sticking with a small, no annual fee card.

[dignam]

Right now I have 4 cards, but only because I started churning sign up bonuses last month.

Chase Freedom Unlimited - main card, have had it for years
CapOne Rewards - backup
US Bank Cash+ - first churned card; about to start collecting dust
CapOne Savor - second churned card; about to start collecting dust

[poetdereves]

Between the wife and I we have 20+. We used to get all the signup bonuses and travel points we could by paying my college tuition on them and then paying them off right away. Our credit limits with all of them together is in the six figures for each of us, which is pretty crazy. We now pay all of our bills except our mortgage on one card. We still use the points for travel, but aren’t usually spending enough to reach any new bonuses on new cards since we don’t pay tuition anymore. I haven’t closed any because it keeps my credit to debt ratio high and my credit age in a spot where our credit scores are both at 800. We don’t really care about our credit scores that much at this point because we aren’t trying to buy any new cars/houses/etc., but we figure it’s pretty easy to keep track of the cards and we don’t pay yearly fees on them.

[jafr1284]

I have 9 cards. I am trying to get on the tradelining train. My total credit limit is 5x my annual income 😂. I will one day get into manufactured spending and really go crazy.

[phildonnia]

those of you tracking closing dates on a spreadsheet do realize you can make all your cards the same closing date right?

Nope. Capital One forces me to pick from a selection of five dates.  And that's for the payment due date (not the statement closing date).   I'd like to have the statement closing date be the end of the month, but that means guessing at when the corresponding payment date would be. 

[chicklets123]

2 total per person


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[Trifle]

I currently have two -- Chase Freedom Unlimited for everyday spending, and the Chase Sapphire Reserve for travel.  In the past the most I've ever had open at one time was 6.  (I was dabbling in card churning and netted some really nice points/cash.)

I plan to continue slow churning this year.  Once you realize the almost unbelievable bonuses you can rake in just by being organized, it becomes addictive. 

[chemistk]

Currently have 6.
-C1QS - Oldest account and where I throw recurring purchases.
-AMEXBCP - Grocery and gas. Rewards gleaned from this cover the annual fees on this and the rest.
-ChaseSP - 'Everything else'
-Amazon - Amazon & any stores accepting Amazon Pay where I can also earn rewards (like Zappos).
-Southwest - Probably could cancel this. Passive accrual of SW points is nice.
-DeltaSMGold - We hope to travel later this year and Delta is the best option, leaning on the boosted categories and holding for the free checked bags & upgraded seating.

[MMMarbleheader]

I have four

1) Amazon prime, only use it for Amazon (5%)

2) Amex blue cash preferred (6% grocery, 3% gas)

3) fidelity reward (2% but more like 2.5% because I put it in a traditional ira)

4) capital one card with $0 balance that I used to get a travel bonus

I have all the cards set up on auto pay and when possible I pay my utilities with the fidelity so only have 3 bills + mortgage coming out of my checking each month

[TheContinentalOp]

Four

An Amex I use for gas (3% back) and groceries (2% back)

A Visa I use for all other non-reoccurring  purchases (1.5% Back)

A Visa only for re-occurring purchases (phone, gym membership, etc.) (1.5% Back)

And an emergency MasterCard that I use one every 6 months just so the bank won't close it down

[startingsmall]

We have ~15 cards because we got into travel points/miles two years ago.

Almost all of our spending is on three specific cards, but I still keep a spreadsheet of due dates so that I remember to check the balance on each every month and pay anything that may have appeared on the card. (Sometimes one of us will make an online purchase on a website we haven't used in a while and it automatically bills to one of our non-standard cards.)

[John Galt incarnate!]

How many do you have? Do you like to keep to one card for the pts or do you utilize a few to maximize the pts?


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I like maximum simplicity so I have just 1 card.

1 is all I need.

I don't use it much so I don't care about points.

[stoaX]

Some of you have 40+ cards?

Wow.

I have 2. One as an emergency only and one as my primary with 2% cash back on everything.

I only have two for the same reason as you.

[kanga1622]

We currently have 5 cards. The oldest we just hang on to for long term credit history and only use when they threaten to close it. One store card for a home improvement center for better cash back on home projects. And 3 general purpose cards that we use for cash back rewards.

For the 3 general reward cards: 1 is the primary card for 1.5% cashback on everything. 1 is used for the 5% rotating reward categories. 1 gives great rewards from Verizon so we use that to pay the Verizon bill and apply the rewards each month toward the next bill.

Other than the Verizon card and the home improvement card, we save all the points to cash in for Christmas.

[American GenX]

I have 3 cards for just me.  I switch between 2 of them primarily that have cashback, and I keep the 3rd because it's the one with my longest credit history.

[Fomerly known as something]

I have 7.  4 are rewards (3 Amex, 1 capitol one) one of which I just got and will likely get rid of next year.  A Chase Amazon card.  2. Bank credit cards that are my oldest and have dedicated bills to keep them around only.

[Trifle]

I figure you folks will know the answer to this.  I've seen referral links for credit cards posted here on the MMM website.  If I take advantage of someone's offer in order to give them a referral bonus, do we end up sharing personal information like names?  Or is the referral link totally anonymous?  I can't seem to find an answer to this online.  Thanks

[Much Fishing to Do]

2. 

First is the core one (with cash back) that we have every bill charged to and every transaction charged to in general and then gets paid off automatically each month. 

The second was just to have a backup card for when the first would be rejected (used to happen enough, esp. when I used travel abroad more (the last place you can write a check if that happens), so that was nice to have a backup so I could wait till that evening to call the CC company to turn back on).  Probably not as much an issue these days as you get alerts to your phone that you can approve on the spot.  Now I actually use the second one more for my college/high school kids to use for emergency, gas, or when I have them run an errand and make a purchase for me (has a much lower credit limit, each get kids an authorized user card, it just became a lot easier way to track as I could just set that one up to alert me via text, etc to any spending at all).

[314159]

I've got 8.

I started churning a little under than a year ago; before that I had a basic credit card from my bank, and later added a Target RedCard (which can only be used at Target). The other 6 are a mix of Chase and Amex, of which 4 are business cards.

When it comes to daily spend, I usually use just one card until I hit the sign up bonus. But recently I've slowed down my churning a bit, so I am currently not working on any bonus. In this case I mostly use the card with the highest grocery category bonus since most of my spending is groceries.

[rantk81]

Target RedCard - Used only at Target, for 5% off everything.  (I shop Target a lot, as I live within walking distance.)

Amazon Synchrony CC - Used only on Amazon purchases for 5% off everything.

Discover CC - Used for all recurring/streaming services.

Fidelity CC - Used for everything else. Has 2% cash back.

Capital One CC - Capital One is one of the only CC companies that doesn't charge foreign transaction fees. I keep this card for international travel use only. I do a token small transaction every 3 months to keep the card from being automatically closed.

I have a few other dormant cards that I will probably close soon.