How many active credit cards do you currently have?

1 (1.9%)
5 (9.6%)
17 (32.7%)
8 (15.4%)
7 (13.5%)
7 (13.5%)
1 (1.9%)
6 (11.5%)

Total Members Voted: 50

Author Topic: How Many Credit Cards?  (Read 4558 times)


  • 5 O'Clock Shadow
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How Many Credit Cards?
« on: January 05, 2014, 10:13:47 AM »
Just curious as to how many active credit cards MMM members have. Many websites cry about having too many, while others claim it doesn't hurt to have 10. Obviously keeping them active is a much needed thing, since generally after 18 months the credit issuer will close the account if there is no activity. But, either way, I am interested in just how many active cards you all hold!

Personally, I have three. My bank's, Chase, and Discover. All get used, though the bank's card is very seldom. My wife has the same amount, and the same ones actually since Chase and Discover are joint and she has a personal one through the same bank.


  • 5 O'Clock Shadow
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Re: How Many Credit Cards?
« Reply #1 on: January 05, 2014, 11:53:55 AM »
Amex Blue Cash as primary and Citi card for backup (it's my 1st CC). Don't really see the point of having more.


  • Magnum Stache
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Re: How Many Credit Cards?
« Reply #2 on: January 05, 2014, 12:00:27 PM »
Depends on your definition of credit card, and active.  5 general purpose, plus cards for Home Depot and NewEgg.

The point of having more is 1) They give you free money when you sign up; and 2) a year or more at 0% interest.  A couple of years ago I had only one general card, then MMM pointed out the free money aspect.  I don't overdo it, but adding up the signup bonuses, cash-back, and profits from keeping free money in the market for a year, I've made several thousand bucks for very little work.

PS: Of the 5, only 3 are really active.  The other two have 0% balances that are being paid off at a bit over minimum until the 0% runs out.

 For a list:
  1) Chase Freedom.  Oldest card, has a few automatic payments (phone, internet, etc), otherwise only gets used when the quarterly 5% cash back category fits something I buy (like gas this quarter).

  2) B of A Visa.  $100 signup, gets used for 2-3% back on gas &c.

  3) CitiBank ThankYou Preferred.  Inactive with a 0% balance, mostly because their 1% cash-back points work out to around 0.75% in practice.

  4) Chase Slate.  Another inactive.  They offered no-fee balance transfers and 0% to the end of 2014, so I moved the balances from other cards.

  5) CapitalOne Quicksilver.  Just opened last month, $100 signup, 1.5% cash back, and 0% to the end of the  year.
« Last Edit: January 05, 2014, 04:08:22 PM by Jamesqf »

Frankies Girl

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Re: How Many Credit Cards?
« Reply #3 on: January 05, 2014, 12:31:45 PM »
4 total between the husband and myself.

We technically only use one regularly for the rewards points. One other one used only at Target for the discount (Target visa) and the other two have one auto charge for something small that keeps them active (older cards that we hang on to with no fees and a decent credit limit).


  • Pencil Stache
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Re: How Many Credit Cards?
« Reply #4 on: January 05, 2014, 12:46:33 PM »
Home Depot
Bank Debit Card (if that counts)

I think that's it now. We used to have like 12 between the two of us (ugh) and did a lot of balance shifting to keep out cards at 0% (now we have no outstanding cc debt yay) and to get freebies as James pointed out.


  • Handlebar Stache
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Re: How Many Credit Cards?
« Reply #5 on: January 05, 2014, 01:19:32 PM »
7+ at this point.

Citi Dividend
Citi AA Bronze
Chase Amazon
Chase Freedom
Discover More
Barclays US Airways
AMEX Blue Cash Everyday

Had some store cards but they've been cancelled due to inactivity. Only use 2 of the above cards day to day. No complaints having a 776 FICO score and I've only been able to have CCs for 3 years!

« Last Edit: January 05, 2014, 02:36:49 PM by thefinancialstudent »


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Re: How Many Credit Cards?
« Reply #6 on: January 05, 2014, 01:28:50 PM »
I had about 45 open and active at one point because I was playing the FatWallet credit card games pretty hard.  Now it just seems like too much work, so I've been closing them down over the past few months and am down to 11 or so now.

Don't really care about FICO score much any more, because I don't plan to borrow any money for the rest of my life.  But I do peek at it out of curiosity sometimes, and I think it's about 784 now.