CarefulBuilder14 wrote:kdm31091 wrote:Exactly -- they definitely need to think carefully. Too many people end up with too much overlap in cards.
Some people don't mind having Discover and Freedom both. It also obviously depends how many cards you're comfortable with. Since I personally like no more than 5 cards, I wouldn't "waste" two slots with very similar cards. But it doesn't cost anything to keep a Freedom open. It's just dubious how much value it will bring to OP at such low spend, and he will likely end up with something like $1.67 in rewards on the Freedom if used occasionally with his low spend. Not really worth it.
What are (or, if not all in place, what would be) your 5 cards?
We seem to agree that it's wasteful to have similar cards. We seem to disagree over how similar Freedom and IT are, though.
**I suppose if you want to get down to 5 cards with travel perks, then maybe there's not room for both.
If I had to pick 5 of my 10...hmm...what would I do?
Definitely drop Sallie Mae, Brooks Bros, and BCE...that would take me down to 7.
I'd want a MasterCard, and the new IHG would kick out Arrival, too.
PRG, EDP, Freedom, It, IHG, and CSP would remain. I'd probably drop PRG or EDP...so all 3 Chase cards would survive, as well as Discover and an Amex.**
If your spend is moderately low (800 a month is what OP said), having even 5 cards could be overkill. No matter what you will end up with tiny rewards on each card and take forever to rack up anything really meaningful.
Travel cards are really only useful for relatively higher spend and/or using it as your only card. If OP had a CSP for example and put all their spend on it, let's say that 800 a month -- even if it was ALL in the 2% category, they'd still only net $16 a month in rewards. x 12 months is $192 a year, minus the fee, so they've netted under 100 bucks in rewards for the year. While that's better than nothing, the point is that they would do best with a no AF cash back card over any kind of travel card.
I don't have any travel cards. I have a Quicksilver for general spend, a barely used BCE for groceries, a BJ's mastercard used fairly heavily (hence the low spend at actual grocery store), and my Discover for rotating categories. More would be overkill for my spend. Everyone's different, though. But as is, it takes a long time to rack up any useful amount of rewards on my BCE, and OP would find themselves in the same boat if they had too many cards