I miss having a single credit card...

For just about anything you want to get off your chest about credit cards.
9 posts
TheLethargicAge
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I miss having a single credit card...

Postby TheLethargicAge » Mon Jan 13, 2014 3:03 pm

I remember the good old days when I only had my BCP and my debit card...everything was so much simpler. I didn't have to constantly try to figure out which card to use depending on what I was purchasing. I mean, you'd think that would be second nature by now, but sometimes my mind just goes blank. I'm honestly to be more like MemberSince99 and trim my portfolio a bit. I'm not too attached to my Cash+, I just hate using it, and I'm not too sure that getting my Discover It was such a great (I only got a $6K limit on it, so I guess that's a sign to start "gardening"...). Anyway I digress...
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)


whit
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Postby whit » Mon Jan 13, 2014 3:32 pm

I haven't applied for a cc since I was 18 and got the citi card & amex

haven't had the need (CL has grown to xxk) and wasn't really interested in discover

I recently (last year) applied for the discover;

I went for it because it's starting to get accepted more and I guess I wanted to diversify.

I am now using discover more though, because I want it accepted at more merchants. weird as that sounds, so everytime I go somewhere where it's not accepted (which is a few places? not as much as I thought)

I would ask why.

it would be awesome to go back in a few months and see that it is accepted


but I pretty much still stick with one card, the others is backup in case anything (eg discover isn't accepted)

u can still do that, just have your other cards be used for stuff like auto paying phone bills, etc so that they still generate statements

samhradh
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Postby samhradh » Mon Jan 13, 2014 3:59 pm

$6K CL on the it is actually pretty good.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

Robrus1
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Postby Robrus1 » Mon Jan 13, 2014 8:16 pm

If I wasn't so greedy for rewards I would go back to one card, but I just can't pick one. I could go down to three I think now that lounge access for Platinum can't be used. BCP, SPG, CSP. Day to day I don't carry all of my cards, usually just 3 or 4.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

samhradh
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Postby samhradh » Mon Jan 13, 2014 8:57 pm

I think the more fun question to ask and hem and haw over is: If you could carry only one card what would it be?

I'd be torn between the Quicksilver (because of its no FTF) or the the BCP. I value $ over travel points.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

MemberSince99
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Postby MemberSince99 » Mon Jan 13, 2014 9:49 pm

Looking at your cards you have an impressive list of them. It's hard to see that any of them should be cut, as all are at least 10k except Discover and 6k from them is like at least 10k from anyone else. I could see keeping up to 8 - my preferred number is between 6 and 8, anymore than that and I start to find it difficult to manage them. I don't know how people on FICO manage 25 cards or more.


But you have a great collection, it's really hard to see closing any of those they are all keepers.

takeshi
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Postby takeshi » Tue Jan 14, 2014 8:59 am

You can always trim down to 3 for scoring and stick to using just one. It's second nature to me even with assigning spend among 7 out of 10 cards.

TheLethargicAge wrote:I'm not too sure that getting my Discover It was such a great (I only got a $6K limit on it, so I guess that's a sign to start "gardening"...).

6 isn't bad. I got 4.5 but that's plenty for my spend on it.

Ikarus
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Postby Ikarus » Tue Jan 14, 2014 2:39 pm

These days, I think there are too many diversified products to just have one card for everything.

I think it's also nice to keep your util under 30% per bank card, which makes you look more responsible.

If you constantly max out a card, Discover may increase your CL, but other lenders may not.
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

chas0039
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Postby chas0039 » Tue Jan 14, 2014 5:22 pm

TheLethargicAge wrote:I remember the good old days when I only had my BCP and my debit card...everything was so much simpler. I didn't have to constantly try to figure out which card to use depending on what I was purchasing. I mean, you'd think that would be second nature by now, but sometimes my mind just goes blank. I'm honestly to be more like MemberSince99 and trim my portfolio a bit. I'm not too attached to my Cash+, I just hate using it, and I'm not too sure that getting my Discover It was such a great (I only got a $6K limit on it, so I guess that's a sign to start "gardening"...). Anyway I digress...


My "good old days" required a different card for every store and gas station in town. We at least got to use counter checks at the grocery stores. I could easily get by with only two cards, Amex and Master Card, but I just can't walk away from cash back.



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