- Centurion Member
- Posts: 138
- Joined: Sat Jul 12, 2014 7:38 am
- Location: Atlanta, GA
First, I keep it simple. I have one of each: Visa, MC, and Discover. I currently have two Amex, one fee free with a really low interest rate from my bank and the Delta SkyMiles Gold card which I signed up for about 4 months ago and, unless I use it for free bags in the next year where it pays for itself, it'll be on the chopping block. It has an annual fee of $95 and an interest rate of 15+%.
Mainly, the Delta card is out of the picture.
So that leaves:
- Cash - day to day this is what I use even for such things as gas (I use pump starter cards and then go in an pay when done)
- Discover - my general purpose card and online card; If I forget to stop by the ATM, then I'll use this.
- Visa - it's the backup to my Discover. If some place or site doesn't take Discover then I'll use this.
- American Express - I use this for travel. Rental cars, hotels, airlines, etc. I travel a few times a year for leisure. Once in a while for business.
- MasterCard - this is my backup card that I normally don't expose. If something happens and I can't use the Visa because it's been compromised, then I'll use this.
Cash is the biggest part of this. I can look in my wallet and see how much left I have for the time period and keep an eye on it. My goal is to have just one of these (Disc, Visa, MC, Amex) to pay in a month. Sometimes it pops up to 2 or 3, but that's about it. I don't want to juggle them and most of the time pay off the balance in full.
I use the credit cards to make purchases easier. It's easier to buy from Amazon using a credit card than it is to try to figure out how to get them cash. Same with reserving an airline or what have you.
Having a bunch of credit cards and then trying to pay minimum or just over minimums on them each month sucks. It's a juggling nightmare. This way I keep it limited to, mainly, one card and one payment - simple.