How many cards?

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JonE
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Re: How many cards?

Postby JonE » Tue Jan 12, 2016 12:54 pm

Dcyphrz wrote:
JonE wrote:Opting out works too.

I actually did opt out (not permanently) in the spring of '14 for some of the reasons KDM pointed out. In all fairness, I banked with Fifth Third so a second CC with them didn't bother me. Were it not for the mailer, however, I'd have never applied for the card. It's dead weight.

*edit* Not that there's anything wrong with carrying whatever card(s) a person wants. I'm just saying for my spending patterns, some cards aren't a good fit. To each his own. :)


I do plan on keeping one of each network. Already have Freedom VISA and Discover (Freedom may be rolled over into CSP when the time comes), Amex is next on the list, then a suitable MasterCard (maybe a Barclay Ring as a BT card) and keep one useful store card (For me, Amazon since I'm a Prime Member and I buy from there on a frequent basis, even waiting for a Prime delivery today from the UPS guy). Walmart's limit isn't going anywhere, and there are no real rewards to keeping it. CareCredit is very limited, and it's better to put a bill like that on an actual rewards card. Once I get a house, a Lowe's card might be an attractive option.
Current Cards: Chase Freedom, Discover IT
Future: TBD


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Dcyphrz
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Re: How many cards?

Postby Dcyphrz » Tue Jan 12, 2016 5:47 pm

JonE wrote:...a Lowe's card might be an attractive option.

I never had one but I love the idea of a standing 5% Lowe's discount. Great store too. :)
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JonE
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Re: How many cards?

Postby JonE » Mon Jan 18, 2016 12:45 pm

Once my income and assets support it I could see going beyond my five card limit for as many as 10. Still have one main card, rotate others or use as needed (travel or store cards for instance). But that's a ways off.

And lowes would make a nice addition, but not until I'm out of this apartment.
Current Cards: Chase Freedom, Discover IT
Future: TBD

kdm31091
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Re: How many cards?

Postby kdm31091 » Tue Jan 19, 2016 9:06 am

I'd like a Lowe's card for the 5% but the unfortunate reality is that Home Depot is far more convenient to where I live. If they built a more local Lowe's I'd consider it.

In my opinion (and it's just my opinion) once you go beyond 5-6 cards, for most spend levels, you end up spreading too thin rewards wise. For income and spending that's on the low end even 5-6 is too much. I'm talking about for day to day, ongoing spending of course. Sign up bonuses are a different matter.

I just have never had anyone sufficiently convince me that they get substantial, ongoing, day-to-day value out of juggling 10, 15 or 20 cards for spending like some do. But if I'm wrong, I'd love for someone to explain why.

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Vattené
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Re: How many cards?

Postby Vattené » Tue Jan 19, 2016 1:18 pm

And let's face it, the more money you make the less willing you're generally going to be to juggle all those cards in the first place.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

skimmie48
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Re: How many cards?

Postby skimmie48 » Tue Jan 19, 2016 5:10 pm

kdm31091 wrote:I'd like a Lowe's card for the 5% but the unfortunate reality is that Home Depot is far more convenient to where I live. If they built a more local Lowe's I'd consider it.

In my opinion (and it's just my opinion) once you go beyond 5-6 cards, for most spend levels, you end up spreading too thin rewards wise. For income and spending that's on the low end even 5-6 is too much. I'm talking about for day to day, ongoing spending of course. Sign up bonuses are a different matter.

I just have never had anyone sufficiently convince me that they get substantial, ongoing, day-to-day value out of juggling 10, 15 or 20 cards for spending like some do. But if I'm wrong, I'd love for someone to explain why.


I currently have 9 cards and don't like managing that many although it's not that difficult. Within 6 months I plan on having that down to 6.

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Dcyphrz
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Re: How many cards?

Postby Dcyphrz » Tue Jan 19, 2016 8:10 pm

I do notice my interest in gaming several (1% or less) cards is starting to wane. Sometimes juggling cards makes for fun mental exercise. Then again, sometimes I'd rather not bother. If it ever gets super annoying, I suppose I'll cancel whatever cards I don't have a use for. I'm good for now though. For the most part, I enjoy it. :)
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Nixon
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Re: How many cards?

Postby Nixon » Tue Jan 19, 2016 11:46 pm

I can juggle cards just fine. The card with the current highest rewards rate gets my vote at settlement time.

Whether that rate is temporarily inflated due to a signup bonus is irrelevant.


To that end, My AMEX Platinum so far has paid its own annual fee for the year just in Centurion Lounge visits based on admission cost without it.

Just 15,000 of my transferred MR's paid up 2 years of the annual fee on a flight that otherwise would have cost me $900 RT. This isn't even counting the Airfare credit which I redeemed for two $100 AA GCs.
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CarefulBuilder14
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Re: How many cards?

Postby CarefulBuilder14 » Wed Jan 20, 2016 12:11 am

Nixon wrote:I can juggle cards just fine. The card with the current highest rewards rate gets my vote at settlement time.

Whether that rate is temporarily inflated due to a signup bonus is irrelevant.


To that end, My AMEX Platinum so far has paid its own annual fee for the year just in Centurion Lounge visits based on admission cost without it.

Just 15,000 of my transferred MR's paid up 2 years of the annual fee on a flight that otherwise would have cost me $900 RT. This isn't even counting the Airfare credit which I redeemed for two $100 AA GCs.

What was the 6 cpp MR booking?

I find juggling is pretty simple, so long as activity alerts are available.
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

Nixon
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Re: How many cards?

Postby Nixon » Wed Jan 20, 2016 12:17 am

DFW to CAE RT, it was a fairly close in booking and checking prices on AA.com at the time yielded a $909 price tag.

I had to make the flight regardless of the price. That I was able to book it on a BA distance based award was the icing on the cake. Even got complimentary alcohol in-flight.
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