How Many Credit Cards Should You Have?

For just about anything you want to get off your chest about credit cards.
40 posts
jonathanpaul
 
Posts: 2
Joined: Wed Mar 16, 2011 8:13 am
Location: Philippines

Postby jonathanpaul » Wed Mar 16, 2011 8:18 am

Wow.. I admire you of having many credit cards and handle them well.. However, i have a question to ask.. Are you having problems with the annual fees that you are required to pay for each card?


User avatar
Pete838
Centurion Member
Centurion Member
 
Posts: 197
Joined: Sun Dec 12, 2010 11:26 am
Location: Florida

Postby Pete838 » Thu Mar 17, 2011 9:23 am

Jonathan,
In the United States (where most of us are from) most cards do not have annual fees.

Some cards have annual fees, such as cards for poor credit ($50-200 per year), and premium cards such as AMEX charge cards (fee anywhere from $40-450 for regular cards) that don't earn interest for the issuer. Most cards will not have a fee at all if the card holder has decent credit and there is interest charged on the account.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Wed Jun 29, 2011 10:39 pm

I have 3. I have a Discover capitol one visa and a American express.

dfm990
Platinum Member
Platinum Member
 
Posts: 66
Joined: Sat Apr 02, 2011 2:28 pm
Location: Miami

Postby dfm990 » Wed Jun 29, 2011 11:34 pm

Two right now. 1 Store Card :/ and a Capital One Master Card... working hard to get my score up to get my foot in with AmEx somehow.
Amex Gold NPSL (35000 Approved)(11/13)
Discover It $22500 (12/13)
Bank of America Cash Rewards $7000 (3/13)
Amex BCP $6000 (12/14)
Walmart Store Card $3050 (2/10)
Capital One Platinum $2000 (3/11)
Chase Slate $1000 (1/16)

NuPlastic
Green Member
Green Member
 
Posts: 17
Joined: Thu Jun 30, 2011 11:04 pm
Location: Texas

Postby NuPlastic » Thu Jun 30, 2011 11:48 pm

I have 4 CCs Amex Green, Bank of America Platinum Plus Visa, and two Capital One Cards, No Hassle Rewards, and a Platinum. Both MCs. I really want a Discover Card and have been wondering if its normal to have two Amex cards. Meaning, a Green Card and lets say a Gold Card. I mean I could upgrade, but is it beneficial to have more than one card from a creditor? I was also considering applying for a Capital One Venture. I would have 3 MC from COne; I looked into it, COne will not upgrade my cards.

I am new to credit cards. Sorry of I sound credit hungry.
Current Cards: American Express: Green Bank of America: Platinum Plus Visa Discover: More Capital One: No Hassle Rewards, Platinum Master Cards
Primary Everyday Card: http://creditcardforum.com/rewards/232-warning-american-express-blue-cash-here-s-catch.htmlBofA: Platinum Plus Visa
Primary Travel Card: Amex: Green

luvbullmarkets
Centurion Member
Centurion Member
 
Posts: 241
Joined: Thu Apr 21, 2011 1:02 am
Location: TPC Stonebrae

Postby luvbullmarkets » Fri Jul 01, 2011 2:27 am

NuPlastic wrote:I have 4 CCs Amex Green, Bank of America Platinum Plus Visa, and two Capital One Cards, No Hassle Rewards, and a Platinum. Both MCs. I really want a Discover Card and have been wondering if its normal to have two Amex cards. Meaning, a Green Card and lets say a Gold Card. I mean I could upgrade, but is it beneficial to have more than one card from a creditor? I was also considering applying for a Capital One Venture. I would have 3 MC from COne; I looked into it, COne will not upgrade my cards.

I am new to credit cards. Sorry of I sound credit hungry.


Not strange at all to have two AMEX cards. I would look at one of the American Express Blue Cash cards or the Costco AMEX if you are a member of Costco. No need to have two charge cards. Just upgrade the Green to Gold.

Not quite sure why someone would want 3 Capital One cards. I would probably close the Capital One Platinum after applying for Venture. The Platinum card offers little in rewards/cash back.
Amex EveryDay, Amex BCE , Barclaycard Arrival+ WEMC, CSP Visa Signature, Discover it, Wells Fargo Propel 365 Amex

"Attack this day with a level of enthusiasm unknown to mankind." - Jack Harbaugh

NuPlastic
Green Member
Green Member
 
Posts: 17
Joined: Thu Jun 30, 2011 11:04 pm
Location: Texas

Postby NuPlastic » Fri Jul 01, 2011 11:05 am

I would love to close a COne card, but the platinum card was my second card. It has 2 years of solid payment history on it. The no hass RW MC is one I want to keep, and I just got it 7 months ago.
Current Cards: American Express: Green Bank of America: Platinum Plus Visa Discover: More Capital One: No Hassle Rewards, Platinum Master Cards
Primary Everyday Card: http://creditcardforum.com/rewards/232-warning-american-express-blue-cash-here-s-catch.htmlBofA: Platinum Plus Visa
Primary Travel Card: Amex: Green

User avatar
bisbicos
Centurion Member
Centurion Member
 
Posts: 284
Joined: Sun Jul 17, 2011 12:38 am
Location: Newton, MA

Postby bisbicos » Tue Jul 19, 2011 10:35 pm

I currently have 4 cc's. Citi forward, Citi university card, capital one journey card, and bank of America AAA gas rewards card. What criteria does Amex look at when you apply for Amex blue chip?
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

nwcdrfinancial
Green Member
Green Member
 
Posts: 7
Joined: Fri Apr 01, 2011 10:10 am
Location: Hollywood FL

Postby nwcdrfinancial » Fri Jul 22, 2011 3:03 pm

The ideal number of three to five so the bureaus have enough information about you to evaluate your credit card payment history, but it also tells them you are conservative about opening new credit cards.

User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Postby jumbo » Wed Sep 14, 2011 3:48 am

current have 3 cards, a visa, a mastercard, and a discover card. I'm thinking of applying for a AMEX, but I'm not sure if I'll get approved or not. :(
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests