June 2015 Garden Club/Cult

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MemberSince99
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Re: June 2015 Garden Club/Cult

Postby MemberSince99 » Thu Jun 04, 2015 7:08 pm

CarefulBuilder14 wrote:Member,

It sounds like you're at your internal limit with Chase.
I don't know what you're spending is like, apart from liking Amazon, but I doubt closing Freedom makes much sense.
*I'd definitely get rid of EDP if you're not optimizing your rewards. Can you close it and get a partial AF refund?

kdm,

I just meant that if:
1. You're getting a base 4% cash back
2. You already have several travel cards with AFs
3. You have some baddies and a low AAoA
Then gardening is tough to beat!

*Nixon,
I have to wonder if your "freezing games" really send the message to issuers that you've become more responsible. There may be no inquiry, but could there be a resulting note on your BofA history that you're doing something weird, suspicious, and potentially deceptive?


I probably could. I just paid for another year of it, but I have it tagged to move it to the no fee version next year. I might actually be willing to do that, despite knowing I can never get another backdated Amex. I'm just tired of juggling all these cards.

I called Chase and found out the Amazon is NOT a Signature card. I want to keep ONE Visa signature so sadly I will not be able to do that if I dump CSP and Freedom. I don't use my Chase cards at all, though after dumping Sync completely (I've already closed Lowes) I would have used that for my Amazon purchases. So I understand them not wanting to give me more limit - if I don't use what I have now, why should they? Makes sense to me. The problem is, then they really don't fit into what I'm looking for with the mix I have. I'm looking to simplify. I simply do not travel, and while that MIGHT at some point in the future change, it also might not. I was told by my work I would be travelling but they change their minds so often it makes my head spin so you can't go by that. They're worse than I am and that's saying a lot.

Decisions decisions. Yeah I know, you think because of the no annual fee it makes sense to keep it around, but my view is I have WAY too many of these for me to handle and I want to consolidate down to a core of a few really good cards and to hell with trying to squeeze every freaking penny out of it - even at a rate of 5% vs 2% for spending 5 grand, that's 150 a year difference. Nice, but it won't make or break a person. I'd rather maximize my relationship with a few lenders and not worry about a few bucks here and there. I built up a portfolio that should maximize rewards for anyone but then you gotta spread your spending while managing all these cards and since you split your spending unless you're fabulously wealthy, your returns on any given thing aren't THAT great, and if you are fabulously wealthy, what is 150 bucks to you? You probably buy a bottle of wine every Friday night that costs more than that. Look at FASTSRT8, obviously a wealthy dude, but what does he put his spend on? Centurion which as we know is just pretty much mediocre as a rewards card (but fantastic as a perks card). A Cap One Quicksilver gives you higher rewards per se than a Centurion (but not the perks).

So that's kind of where I'm at here. Heck it wouldn't make sense to close ANY no fee card if all I worried about was paying a fee or not. That's not what it's about, it's about making life easier. I have some great cards now it's time to get down to a core set and hopefully just stay there.

UPDATE: Just called Chase and asked if I move limits from the other cards if they can make the Amazon a Signature. They moved all the limit they could from the CSP and Freedom, 23,000 worth, to the Amazon and said it will be a signature card. So it's all good, only 500 bucks went to waste that they could not move from Freedom. Can't win em all I have no complaints.
Last edited by MemberSince99 on Thu Jun 04, 2015 7:22 pm, edited 1 time in total.


kdm31091
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Re: June 2015 Garden Club/Cult

Postby kdm31091 » Thu Jun 04, 2015 7:17 pm

MemberSince99 wrote:
CarefulBuilder14 wrote:Member,

It sounds like you're at your internal limit with Chase.
I don't know what you're spending is like, apart from liking Amazon, but I doubt closing Freedom makes much sense.
*I'd definitely get rid of EDP if you're not optimizing your rewards. Can you close it and get a partial AF refund?

kdm,

I just meant that if:
1. You're getting a base 4% cash back
2. You already have several travel cards with AFs
3. You have some baddies and a low AAoA
Then gardening is tough to beat!

*Nixon,
I have to wonder if your "freezing games" really send the message to issuers that you've become more responsible. There may be no inquiry, but could there be a resulting note on your BofA history that you're doing something weird, suspicious, and potentially deceptive?


I probably could. I just paid for another year of it, but I have it tagged to move it to the no fee version next year. I might actually be willing to do that, despite knowing I can never get another backdated Amex. I'm just tired of juggling all these cards.

I called Chase and found out the Amazon is NOT a Signature card. I want to keep ONE Visa signature so sadly I will not be able to do that if I dump CSP and Freedom. I don't use my Chase cards at all, though after dumping Sync completely (I've already closed Lowes) I would have used that for my Amazon purchases. So I understand them not wanting to give me more limit - if I don't use what I have now, why should they? Makes sense to me. The problem is, then they really don't fit into what I'm looking for with the mix I have. I'm looking to simplify. I simply do not travel, and while that MIGHT at some point in the future change, it also might not. I was told by my work I would be travelling but they change their minds so often it makes my head spin so you can't go by that. They're worse than I am and that's saying a lot.

Decisions decisions. Yeah I know, you think because of the no annual fee it makes sense to keep it around, but my view is I have WAY too many of these for me to handle and I want to consolidate down to a core of a few really good cards and to hell with trying to squeeze every freaking penny out of it - even at a rate of 5% vs 2% for spending 5 grand, that's 150 a year difference. Nice, but it won't make or break a person. I'd rather maximize my relationship with a few lenders and not worry about a few bucks here and there. I built up a portfolio that should maximize rewards for anyone but then you gotta spread your spending while managing all these cards and since you split your spending unless you're fabulously wealthy, your returns on any given thing aren't THAT great, and if you are fabulously wealthy, what is 150 bucks to you? You probably buy a bottle of wine every Friday night that costs more than that. Look at FASTSRT8, obviously a wealthy dude, but what does he put his spend on? Centurion which as we know is just pretty much mediocre as a rewards card (but fantastic as a perks card). A Cap One Quicksilver gives you higher rewards per se than a Centurion (but not the perks).

So that's kind of where I'm at here. Heck it wouldn't make sense to close ANY no fee card if all I worried about was paying a fee or not. That's not what it's about, it's about making life easier. I have some great cards now it's time to get down to a core set and hopefully just stay there.


Excellent points and I'm the same way. I simplified down to a small handful of cards and am pretty much done. The differences in rewards are not significant enough with my spend to worry overly much about and honestly, it's too much annoyance and hassle. That's just my perspective. You're right -- life should be easier, not "omg what card am I supposed to use to maximize points?" It just gets exhausting.

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CarefulBuilder14
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Re: June 2015 Garden Club/Cult

Postby CarefulBuilder14 » Thu Jun 04, 2015 10:44 pm

How many CSPs have you gone through, Member? IIRC, this is at least the second one you've closed.

Do they keep waiving the AFs? Or you just pay for the months you choose to have one each year? :ppp Have you gotten multiple signup bonuses?

It's not too surprising that the Chase Amazon could come as Signature, I suppose. The Williams-Sonoma Visa and a few others can.

I wasn't against closing a no-AF card. I was against closing a card that can earn 5.5 URs. Then again, I plan to keep my CSP and you've already closed yours.

I can definitely see value in focusing your spending on just a few cards. Apart from the computer I bought on the Arrival for the bonus, I basically just use EDP, Freedom, CSP, and Discover.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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Re: June 2015 Garden Club/Cult

Postby MemberSince99 » Fri Jun 05, 2015 6:03 am

CarefulBuilder14 wrote:How many CSPs have you gone through, Member? IIRC, this is at least the second one you've closed.

Do they keep waiving the AFs? Or you just pay for the months you choose to have one each year? :ppp Have you gotten multiple signup bonuses?

It's not too surprising that the Chase Amazon could come as Signature, I suppose. The Williams-Sonoma Visa and a few others can.

I wasn't against closing a no-AF card. I was against closing a card that can earn 5.5 URs. Then again, I plan to keep my CSP and you've already closed yours.

I can definitely see value in focusing your spending on just a few cards. Apart from the computer I bought on the Arrival for the bonus, I basically just use EDP, Freedom, CSP, and Discover.


Two. You are correct good memory.

No they haven't waived fees. On some cards I've gotten multiple bonuses, but I don't think I got one on the second CSP.

Oh I get it totally your point was very valid. To me personally, the value of UR points don't cause me to want that many accounts. I really did think long and hard before I chopped some. The Freedom really is a great card as is the CSP. I just personally don't want to babysit that many credit cards. But your points are spot on. When I closed my Dodge MasterCard, the FNBO rep did his best to convince me to keep it. I appreciate that, but honestly there just wasn't anything - I just have too many cards, and as I told him, I can't find a dealer who will let me use the points on it so about all I can do with the rewards is use them for gift cards. That just really doesn't work for me. (I got it expecting as they told me that I could use the rewards at the dealer). FNBO is great but that card was one of the casualties. As much as I like them and their customer service sometimes you have to make some choices that are hard and that was mine.

I'm still debating putting EDP and the Amex Hilton on the chopping block, regardless of the high limits and the fact I'll never get another backdated Amex card. For now, I'll PROBABLY just keep them in the sock drawer. At least the Hilton has no annual fee and if I move the EDP to the ED that will be the same. I have no plans to close Gold and may even upgrade it to PRG. (Am considering that). I can't get value from the Platinum but the PRG might work.

I'll just feel better staying under 10 credit cards IDEALLY something like 6 to 8. My God how much more does anyone truly need. Want, sure, but need?

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Re: June 2015 Garden Club/Cult

Postby Nixon » Fri Jun 05, 2015 6:21 am

MemberSince99 wrote:
CarefulBuilder14 wrote:How many CSPs have you gone through, Member? IIRC, this is at least the second one you've closed.

Do they keep waiving the AFs? Or you just pay for the months you choose to have one each year? :ppp Have you gotten multiple signup bonuses?

It's not too surprising that the Chase Amazon could come as Signature, I suppose. The Williams-Sonoma Visa and a few others can.

I wasn't against closing a no-AF card. I was against closing a card that can earn 5.5 URs. Then again, I plan to keep my CSP and you've already closed yours.

I can definitely see value in focusing your spending on just a few cards. Apart from the computer I bought on the Arrival for the bonus, I basically just use EDP, Freedom, CSP, and Discover.


Two. You are correct good memory.

No they haven't waived fees. On some cards I've gotten multiple bonuses, but I don't think I got one on the second CSP.

Oh I get it totally your point was very valid. To me personally, the value of UR points don't cause me to want that many accounts. I really did think long and hard before I chopped some. The Freedom really is a great card as is the CSP. I just personally don't want to babysit that many credit cards. But your points are spot on. When I closed my Dodge MasterCard, the FNBO rep did his best to convince me to keep it. I appreciate that, but honestly there just wasn't anything - I just have too many cards, and as I told him, I can't find a dealer who will let me use the points on it so about all I can do with the rewards is use them for gift cards. That just really doesn't work for me. (I got it expecting as they told me that I could use the rewards at the dealer). FNBO is great but that card was one of the casualties. As much as I like them and their customer service sometimes you have to make some choices that are hard and that was mine.

I'm still debating putting EDP and the Amex Hilton on the chopping block, regardless of the high limits and the fact I'll never get another backdated Amex card. For now, I'll PROBABLY just keep them in the sock drawer. At least the Hilton has no annual fee and if I move the EDP to the ED that will be the same. I have no plans to close Gold and may even upgrade it to PRG. (Am considering that). I can't get value from the Platinum but the PRG might work.

I'll just feel better staying under 10 credit cards IDEALLY something like 6 to 8. My God how much more does anyone truly need. Want, sure, but need?


I have about 20 at the moment.
I will definitely be paring down some over the next year before my next churn-o-rama.
I already downgraded my CSP to CS, so for the moment, that will stay. The plan is to PC that one into a Freedom so I can roll my 22.99% APR Freedom into it and have one big 15.99% Freedom. Ritz-Carlton is being weighed against the Prestige but ultimately may end up getting cut if we can keep the Citigold benefit/AF. I have a lot more cards to think about as well....


AMEX....ED is staying, Blue Sky is staying, PRG is getting downgraded to Sr. Green.
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Re: June 2015 Garden Club/Cult

Postby kdm31091 » Fri Jun 05, 2015 6:48 am

MemberSince99 wrote:
CarefulBuilder14 wrote:How many CSPs have you gone through, Member? IIRC, this is at least the second one you've closed.

Do they keep waiving the AFs? Or you just pay for the months you choose to have one each year? :ppp Have you gotten multiple signup bonuses?

It's not too surprising that the Chase Amazon could come as Signature, I suppose. The Williams-Sonoma Visa and a few others can.

I wasn't against closing a no-AF card. I was against closing a card that can earn 5.5 URs. Then again, I plan to keep my CSP and you've already closed yours.

I can definitely see value in focusing your spending on just a few cards. Apart from the computer I bought on the Arrival for the bonus, I basically just use EDP, Freedom, CSP, and Discover.


Two. You are correct good memory.

No they haven't waived fees. On some cards I've gotten multiple bonuses, but I don't think I got one on the second CSP.

Oh I get it totally your point was very valid. To me personally, the value of UR points don't cause me to want that many accounts. I really did think long and hard before I chopped some. The Freedom really is a great card as is the CSP. I just personally don't want to babysit that many credit cards. But your points are spot on. When I closed my Dodge MasterCard, the FNBO rep did his best to convince me to keep it. I appreciate that, but honestly there just wasn't anything - I just have too many cards, and as I told him, I can't find a dealer who will let me use the points on it so about all I can do with the rewards is use them for gift cards. That just really doesn't work for me. (I got it expecting as they told me that I could use the rewards at the dealer). FNBO is great but that card was one of the casualties. As much as I like them and their customer service sometimes you have to make some choices that are hard and that was mine.

I'm still debating putting EDP and the Amex Hilton on the chopping block, regardless of the high limits and the fact I'll never get another backdated Amex card. For now, I'll PROBABLY just keep them in the sock drawer. At least the Hilton has no annual fee and if I move the EDP to the ED that will be the same. I have no plans to close Gold and may even upgrade it to PRG. (Am considering that). I can't get value from the Platinum but the PRG might work.

I'll just feel better staying under 10 credit cards IDEALLY something like 6 to 8. My God how much more does anyone truly need. Want, sure, but need?


I could never have more than 10 or even 10. You're right. The more cards, the harder it is to justify. Unless you spend a fortune each month, some are going to be basically unused and therefore very little rewards, yet its more accounts to track and maintain. To each their own I guess, but I would likely never even exceed 6.

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Re: June 2015 Garden Club/Cult

Postby MemberSince99 » Fri Jun 05, 2015 7:52 am

kdm31091 wrote:
MemberSince99 wrote:
CarefulBuilder14 wrote:How many CSPs have you gone through, Member? IIRC, this is at least the second one you've closed.

Do they keep waiving the AFs? Or you just pay for the months you choose to have one each year? :ppp Have you gotten multiple signup bonuses?

It's not too surprising that the Chase Amazon could come as Signature, I suppose. The Williams-Sonoma Visa and a few others can.

I wasn't against closing a no-AF card. I was against closing a card that can earn 5.5 URs. Then again, I plan to keep my CSP and you've already closed yours.

I can definitely see value in focusing your spending on just a few cards. Apart from the computer I bought on the Arrival for the bonus, I basically just use EDP, Freedom, CSP, and Discover.


Two. You are correct good memory.

No they haven't waived fees. On some cards I've gotten multiple bonuses, but I don't think I got one on the second CSP.

Oh I get it totally your point was very valid. To me personally, the value of UR points don't cause me to want that many accounts. I really did think long and hard before I chopped some. The Freedom really is a great card as is the CSP. I just personally don't want to babysit that many credit cards. But your points are spot on. When I closed my Dodge MasterCard, the FNBO rep did his best to convince me to keep it. I appreciate that, but honestly there just wasn't anything - I just have too many cards, and as I told him, I can't find a dealer who will let me use the points on it so about all I can do with the rewards is use them for gift cards. That just really doesn't work for me. (I got it expecting as they told me that I could use the rewards at the dealer). FNBO is great but that card was one of the casualties. As much as I like them and their customer service sometimes you have to make some choices that are hard and that was mine.

I'm still debating putting EDP and the Amex Hilton on the chopping block, regardless of the high limits and the fact I'll never get another backdated Amex card. For now, I'll PROBABLY just keep them in the sock drawer. At least the Hilton has no annual fee and if I move the EDP to the ED that will be the same. I have no plans to close Gold and may even upgrade it to PRG. (Am considering that). I can't get value from the Platinum but the PRG might work.

I'll just feel better staying under 10 credit cards IDEALLY something like 6 to 8. My God how much more does anyone truly need. Want, sure, but need?


I could never have more than 10 or even 10. You're right. The more cards, the harder it is to justify. Unless you spend a fortune each month, some are going to be basically unused and therefore very little rewards, yet its more accounts to track and maintain. To each their own I guess, but I would likely never even exceed 6.


Yeah it's funny - we all start off with one card typically. A few of us get a couple to start, but none of us starts with 10 credit cards. It's probably a lousy card just to get some kind of history. But at the time we are happy to get that, thinking it's the gateway to better and to improved credit. Then with time, we start getting the invites in the mail - "You are invited to apply for XXX credit card..." and we read the material and think wow this card has rewards??? They are going to pay me to use the card and I get all these perks and a grown up credit limit? Sign me up! And the invitations just keep rolling in and most of them sound pretty damn good compared to First Premiere and Credit One and Commenity Bank. Before you know it, you have a pocketful of cards like that, with a limit of several thousand dollars each instead of a few hundred like you started with. Then you get addicted to the allure of being wanted and of approval - it's a rush like when you win at gambling I'd imagine. (Never gambled myself). And before you know it, you have more of these things than you can use or justify. The urge to churn is great as it's hundreds of dollars. And if you don't restrain yourself with discipline, you get in over your head and it just snowballs.

I'm grateful that I know better than to let it snowball and I haven't done that with these cards, but I know I'm over the limit of what's even sensible. I figure better to close the unused lines, and that way it's not a potential liability to me, and the lender can give the line to someone who might use it. I think that's a win win and not a negative, if you weren't going to use it anyway. Of course it's better to not open it in the first place if that's the case, but granted, we want to try them all out and pick the best ones and the ones who want our business. That's what I'm going with anyway! :)

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Re: June 2015 Garden Club/Cult

Postby kdm31091 » Fri Jun 05, 2015 8:06 am

Exactly. It can quickly grow out of control. I do think app addiction is very similar to gambling. There are some people on myfico for example who really, really need to stop but are pretty consistently egged on. There are posters with 90 cards. Why that is considered normal or acceptable or healthy is beyond me. It's not. They need help. Voids in your life should not be filled with credit cards.

Churning can also be addicting I imagine, but it's also something one has to be careful with. A lot of people simply overspend to get bonuses "in time" which defeats the point. They think of "free money" and ignore the fact that if you weren't going to spend that much anyway, the bonus is worthless. Churning itself, to me, doesn't look good on your report, no matter what someone tries to justify it with. All those "app sprees" and "churn o ramas" remain on your report for 10 years -- every single account, opened and closed, is there for a lender to see. It doesn't take rocket science for a lender to figure out if you are gaming the system, and sooner or later you're going to hit a wall. Churning does not equal good credit; it is something people do for "free" money (I hate that term really) but it is not necessarily the best path for a great credit profile (in my opinion).

I'm just not into "gaming the system" with the churning and or MS stuff. It's not worth my time or energy and I don't want a bunch of "open and closed" cards on my report constantly. But to each their own.

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Re: June 2015 Garden Club/Cult

Postby obxfisherman » Fri Jun 05, 2015 8:11 am

MemberSince99 wrote:Yeah it's funny - we all start off with one card typically. A few of us get a couple to start, but none of us starts with 10 credit cards. It's probably a lousy card just to get some kind of history. But at the time we are happy to get that, thinking it's the gateway to better and to improved credit. Then with time, we start getting the invites in the mail - "You are invited to apply for XXX credit card..." and we read the material and think wow this card has rewards??? They are going to pay me to use the card and I get all these perks and a grown up credit limit? Sign me up! And the invitations just keep rolling in and most of them sound pretty damn good compared to First Premiere and Credit One and Commenity Bank. Before you know it, you have a pocketful of cards like that, with a limit of several thousand dollars each instead of a few hundred like you started with. Then you get addicted to the allure of being wanted and of approval - it's a rush like when you win at gambling I'd imagine. (Never gambled myself). And before you know it, you have more of these things than you can use or justify. The urge to churn is great as it's hundreds of dollars. And if you don't restrain yourself with discipline, you get in over your head and it just snowballs.

I'm grateful that I know better than to let it snowball and I haven't done that with these cards, but I know I'm over the limit of what's even sensible. I figure better to close the unused lines, and that way it's not a potential liability to me, and the lender can give the line to someone who might use it. I think that's a win win and not a negative, if you weren't going to use it anyway. Of course it's better to not open it in the first place if that's the case, but granted, we want to try them all out and pick the best ones and the ones who want our business. That's what I'm going with anyway! :)


I agree with all points here. I have roughly 20 cards right now, honestly 20 is too much. I can't keep track of them all (thank goodness for mint), and I only used 1, maybe 2 as my go to cards. I can honestly say it is very bizarre the sort of rush you get from credit card approval. I too get this rush and I find it quite addicting. I guess one can compare it to gambling…it kind of freaks me out when you put it in that context. However, that is the sad reality…it's a big rush. When it comes down to it how much of a credit card limit do you need? I'd say for the most part, unless you make 100K+ you don't need a limit greater than 10-15K. That should cover most if not all expenses especially if you are PIF every month. Ideally I would only like 4/5 cards. Marriott, NavyFederal Cash Rewards, some AMEX, and Discover….maybe a master card branded card but that's it. I've sort of wrecked my AAoA so whatever I do it doesn't matter. Got to get out of debt first though, after that then I can play. lol. I'm in the garden for a long while. It will be worth it in the end.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
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Total Credit Card Limits Roughly: 61.5K

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Re: June 2015 Garden Club/Cult

Postby kdm31091 » Fri Jun 05, 2015 9:19 am

obxfisherman wrote:
MemberSince99 wrote:Yeah it's funny - we all start off with one card typically. A few of us get a couple to start, but none of us starts with 10 credit cards. It's probably a lousy card just to get some kind of history. But at the time we are happy to get that, thinking it's the gateway to better and to improved credit. Then with time, we start getting the invites in the mail - "You are invited to apply for XXX credit card..." and we read the material and think wow this card has rewards??? They are going to pay me to use the card and I get all these perks and a grown up credit limit? Sign me up! And the invitations just keep rolling in and most of them sound pretty damn good compared to First Premiere and Credit One and Commenity Bank. Before you know it, you have a pocketful of cards like that, with a limit of several thousand dollars each instead of a few hundred like you started with. Then you get addicted to the allure of being wanted and of approval - it's a rush like when you win at gambling I'd imagine. (Never gambled myself). And before you know it, you have more of these things than you can use or justify. The urge to churn is great as it's hundreds of dollars. And if you don't restrain yourself with discipline, you get in over your head and it just snowballs.

I'm grateful that I know better than to let it snowball and I haven't done that with these cards, but I know I'm over the limit of what's even sensible. I figure better to close the unused lines, and that way it's not a potential liability to me, and the lender can give the line to someone who might use it. I think that's a win win and not a negative, if you weren't going to use it anyway. Of course it's better to not open it in the first place if that's the case, but granted, we want to try them all out and pick the best ones and the ones who want our business. That's what I'm going with anyway! :)


I agree with all points here. I have roughly 20 cards right now, honestly 20 is too much. I can't keep track of them all (thank goodness for mint), and I only used 1, maybe 2 as my go to cards. I can honestly say it is very bizarre the sort of rush you get from credit card approval. I too get this rush and I find it quite addicting. I guess one can compare it to gambling…it kind of freaks me out when you put it in that context. However, that is the sad reality…it's a big rush. When it comes down to it how much of a credit card limit do you need? I'd say for the most part, unless you make 100K+ you don't need a limit greater than 10-15K. That should cover most if not all expenses especially if you are PIF every month. Ideally I would only like 4/5 cards. Marriott, NavyFederal Cash Rewards, some AMEX, and Discover….maybe a master card branded card but that's it. I've sort of wrecked my AAoA so whatever I do it doesn't matter. Got to get out of debt first though, after that then I can play. lol. I'm in the garden for a long while. It will be worth it in the end.


Chasing the "rush" is dangerous. Credit cards are not a game. Every inquiry lasts 2 years and every account opened remains for 10. Nothing one should be doing on impulse. The more cards you have, it comes to a point where you mainly only use 1 or 2 anyway so it becomes pointless.

I know it sounds freakish to compare it to gambling but it's a sad reality. Nobody should fill voilds in their lives with credit cards (or gambling) and if they are, staying off of credit forums is usually a great first step. It makes you want way, way more than you need and some people can't handle the temptation.

I found this quote online -- it's not my wording but it is so very true and people forget this when they obtain 10 or 20 cards: "Unless you are a billionaire, you only have so much money to spend a month. Let’s say your budget is $3,000 a month and you go from one rewards credit card to three rewards credit cards: one for travel, one for entertainment, and another for online shopping. You must now calculate the incremental rewards you’ll earn, given you would have received rewards if you put everything on your one and only credit card anyway. Once you calculate the incremental rewards received, you realize the benefits aren’t that much at all since you are not spending 3X more by have 3X more cards. And if you are spending above your $3,000 budget that’s no good either"...

Something to keep in mind.

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