Posted this there as well but the short version is that this falls under the standard due diligence that anyone should be doing when considering cards based on rewards anyway. I don't bother with a 1.5% or 2% card on all spend as I can get at least that with UR so my CSP is my everything else card for noncategory spend.
People seem to obsess over % and X, fussing over getting every little bit assuming that more is simply better without understanding the $ impact. However, many obviously aren't considering where the majority of their money is going. Given that rewards are a small % of spend it doesn't make sense to obsess over small amounts of spend in a given category.
However, it's up to each to figure that stuff out as well. If they can't put forth the time, effort and math to figure out what's really best suited to them that's their problem.
Well, I don't think this post ended up any shorter than the one on MF after all...
kdm31091 wrote:Thoughts, anyone? I realize it's similar to "spreading too thin" or "diluting rewards"
Similar but not quite as big of a deal with cashback cards aside from the impact of minimum redemption thresholds, if applicable. There's certainly impact to number of cards as well but that's a subjective matter.
kdm31091 wrote:Some people on MF are mentioning diversity and wanting a thick file. While these things are important, I think in the CC world we are in a bubble sometimes and we forget that most people in the "real world" have 3 or so cards, give next to no thought about this stuff, and get through life just fine. All the hype about needing a "thick file" often feels like it's just people trying to justify things out loud to themselves that they know don't make a whole lot of sense (i.e., having 15 cards just for "diversity").
You should know well enough by now that if you're trying to make sense of MF that you're just going to drive yourself nuts. Yes, people there justify all sorts of things for dubious reasons. Most of them seem to have their minds made up and are just looking for validation for their poor decision making which is why they're in the situation they're in in the first place. I can't pick on them too much on that point since my credit was in terrible shape back in 2012 when I first ran across MF. Yes, they don't represent most people but no discussion forum on any topic represents the majority -- this one included.
It's not really what best serves most people that matters anyway. Each person has to sort out what best serves the individual. People tend to look for easy solutions and explanations and it's much easier to just look at % and think "2% is clearly better than 1%" and go with that versus really thinking about all of the considerations at play. Very few seem to be able or willing to really put the effort into evaluating the points/miles rewards programs which take much more consideration than cash back which is dead simple by comparison.
All you can do is present info. What people do with that info is up to them.