How many Credit Cards should I have?

For just about anything you want to get off your chest about credit cards.
17 posts
pac4toon
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Postby pac4toon » Tue Apr 08, 2014 5:47 pm

Right now I carry 4 in my wallet but would ideally want to only carry 2 credit cards. Still trying to decide which 2 (I'm still looking for another card to add but can't seem to find one or two yet). A friend of mine said to carry one of each (Visa, M/C & AmEx).
In my wallet:
AmEx PRG/ BoH Hawaiian Airlines WEMC / Chase Freedom /

In my sock drawer:
AmEx HHonors & BCE


Troublemaker
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Postby Troublemaker » Fri Apr 25, 2014 11:26 pm

lbrother517 wrote:I'm a firm believer in credit cards, as i'm sure most of you all are. Right now I have about 5 Credit Cards, My first ever (Capital One Student Rewards) My second: Case Freedom My Third: Case Sapphire Preferred, Case Marriott Rewards, and finally my AMEX Premier Rewards Gold Card.

From my understanding this is a healthy lot of cards to have. Mixed Rewards, Travel, and general Use cards. I nearly always pay off my cards 100% of the time. I have a purpose for each card. I Have read that 5 cards is where you should be but it can very from person to person? So my question is. Whats the perfect number? How many should I have?

Little about me. 23, Credit Score 775, 5 Credit Cards, Available Credit 70K, my credit Utilization is around 7% And I always pay off each card on time. Normally I only use 2 during any given month unless i'm traveling. Than i cash in on my travel Cards like the Marriott :)

Any advice would be great!


Ideally, 2.

One AmEx and one Visa/MC.

One for cash back and another for points (preferably transferable to multiple hotels/airlines).

I know most would say it depends on your needs and that is true. But I am focusing here on the keyword, "Ideally" :-)
DoubleCash '99:10k / Freedom '07:11k / CU '11:15k / Slate '14:13k / Premier '15:10k / InkPlus '15:5k

Troublemaker
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Postby Troublemaker » Fri Apr 25, 2014 11:28 pm

pac4toon wrote:Right now I carry 4 in my wallet but would ideally want to only carry 2 credit cards. Still trying to decide which 2 (I'm still looking for another card to add but can't seem to find one or two yet). A friend of mine said to carry one of each (Visa, M/C & AmEx).


I agree with your friend. I carry one Amex and one MC in my wallet.
DoubleCash '99:10k / Freedom '07:11k / CU '11:15k / Slate '14:13k / Premier '15:10k / InkPlus '15:5k

YungTPS
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Postby YungTPS » Sat Apr 26, 2014 8:52 am

I have 17 lmao

pac4toon
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Postby pac4toon » Sat Apr 26, 2014 3:29 pm

Edit: I now carry 5 lol, but planning to sock drawer the HHonors & maybe one of the Chase cards. Probably the CSP for now since I just got the Freedom and then switch them out.

Gonna order a new WEMC after activation on the 28th just because it doesn't look right (there's a thread here somewhere with my issue with the card)
In my wallet:
AmEx PRG/ BoH Hawaiian Airlines WEMC / Chase Freedom /

In my sock drawer:
AmEx HHonors & BCE

drmoo
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Postby drmoo » Fri May 30, 2014 8:33 pm

Carry 4. I've got 2 that are from 99 and 00 that I don't use much. Ideally, I'd like to get 2 different credit cards, but afraid of the impact it would create by canceling 2 cards where I got 14 and 15 years of history.

Got a Discover/MC/Visa and Amex

Dman316
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Postby Dman316 » Sat May 31, 2014 12:29 pm

There is no magic number but as long as you keep your AAoA up you'd be fine.
My Cards

Chase Freedom Visa Signature: $5.2K
Capital One Quicksilver Visa: $7.5K
Discover IT: $5.5K
Huntington Voice World Mastercard: $1.6K

In the garden indefinitely.



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