Credit Card Lineup Good Enough?

For just about anything you want to get off your chest about credit cards.
4 posts
Michael
Platinum Member
Platinum Member
 
Posts: 75
Joined: Sat Jun 07, 2008 6:11 am
Location: Illinois

Credit Card Lineup Good Enough?

Postby Michael » Mon Jun 23, 2014 10:46 am

My wife and I have the following credit cards. Our major spend is groceries, doctor bills, and vet bills. Total is over $35000 annually (about $7000 is groceries).

AMEX BCP 2001 (Groceries, Gas) $30,000 limit
Chase Freedom 2002 (Quarterly Categories and everyday spend) $56,500 limit
Discover IT 2005 (Quarterly categories) $15000 limit
Capital One Quicksilver 2013 (all recurring charges) $17000 limit
Costco AMEX 2014 (Costco, dining when no quarterly from Chase or Discover, travel) $15000 limit
Target Redcard 2010 (Target shopping for the 5%)$2000 limit
Kohls 2001 (sales) $1200

In drawer: ExxonMobil, Shell, Gulf, Carson's, Macy's, Catherine's

Is this lineup enough, or am I missing something?

I do not want too many credit cards.

Thanks.


thom02099
Centurion Member
Centurion Member
 
Posts: 472
Joined: Sat Apr 13, 2013 7:49 pm
Location: Colorado, USA

Postby thom02099 » Mon Jun 23, 2014 11:43 am

Michael wrote:My wife and I have the following credit cards. Our major spend is groceries, doctor bills, and vet bills. Total is over $35000 annually (about $7000 is groceries).

AMEX BCP 2001 (Groceries, Gas) $30,000 limit
Chase Freedom 2002 (Quarterly Categories and everyday spend) $56,500 limit
Discover IT 2005 (Quarterly categories) $15000 limit
Capital One Quicksilver 2013 (all recurring charges) $17000 limit
Costco AMEX 2014 (Costco, dining when no quarterly from Chase or Discover, travel) $15000 limit
Target Redcard 2010 (Target shopping for the 5%)$2000 limit
Kohls 2001 (sales) $1200

In drawer: ExxonMobil, Shell, Gulf, Carson's, Macy's, Catherine's

Is this lineup enough, or am I missing something?

I do not want too many credit cards.

Thanks.


Looks like a good line up. If it's good enough for you and your wife, then that's really all that matters. Doesn't matter what others may think. Value is an individual thing. What's good enough for one person may not be for another. And for some, there's never enough!
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jun 23, 2014 12:16 pm

I'm not sure how we would know if your credit card lineup is good enough for your needs. I get you listed them by limit and what you use them for, but do they suit your needs? If so, it's good enough. If not, how do they not?

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Wed Jun 25, 2014 12:13 pm

Michael wrote:Is this lineup enough, or am I missing something?

I do not want too many credit cards.

Define "good enough" and "too many". Those are both highly subjective phrases so you need to qualify what you mean versus assuming that there's a line up of cards that is ideal for everyone.

The only criteria you've really supplied are your spend categories and amounts. The only spend category that any of your cards really maximizes is the BCP for groceries. Given that doctor bills and vet bills really aren't covered at a higher rewards earn rate on any card AFAIK you're pretty much stuck with using a rewards card offering the highest rewards rate for general spend. The Quicksilver fills that need with 1.5% cash back. Given what you've provided those two cards would be good enough.

If you have additional information for us to work with then please provide it if you want more feedback. Do you have any other preferences, needs, wants, goals, priorities etc that would help us in assessing? Any features or benefits that you're looking for? Do you consider anything lacking in your current line-up?



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests