How many credit cards do you have? - Page 5

beansac · 01-15-2008, 04:46 PM

Absolutely zero. It takes quite a bit of will power to not spend money you don't have, and I don't have that kind of will power to spare.

Anthony Marrone · 01-15-2008, 06:12 PM

6 credit cards, all carrying different balances, none of them with any activity in the past three months. I'm keeping the accounts open only because I want to keep my available credit-to-debt ratio relatively stable, and closing an account lowers the amount of available credit. It is horrible to be subjected to the arbitrary and capricious fees and costs associated with most cards, but coming to the realization you no longer need the cards (although you could use them responsibly) is great.

purplefdu · 01-15-2008, 06:18 PM

I have no credit cards as well. I had a college student one, but I closed it when it got bought by Citibank and they screwed with the original terms, not in my favor. I have a debit card for my joint account as well as my personal one. I am looking at getting a credit card to help clean up my credit but have to get my student loans out of default first, which looks like it will take a lawsuit.

Zarathstra · 01-16-2008, 04:59 AM

I have 6, 2 with balances (I'm working on fixing that), plus 3 debit cards. I know, that seems weird, but they all have their purposes.

rorich · 01-16-2008, 07:57 AM

Personally, I think it is good to use cash. However, whenever you plan to buy a hous or a piece of propert, many of us may not have the cash to do so. Using your credit cards wisely, like paying the balance in full and avoiding finance charges, will surely increase one's credit worthiness. Sometimes even when I have cash, I sue the credit card. I usually make my payment (online) as soon as I make the purchase.

pastorjezer · 01-16-2008, 11:21 AM

I have three credit cards. I couldn't even fathom having ten or more. I'm just not that organized.

stardanced · 01-18-2008, 09:55 AM

I have four rewards credit cards, but I usually only use one or two in a given month, depending on what the current rewards and exchange rates are. I put almost all of my expenses on my credit cards (for the rewards), and I pay my balances in full each month.

jdp · 01-18-2008, 10:25 AM

No option for zero? I have a visa debit card but thats it.

The way cc's are run seems so ? arbitrary? Like at any moment the terms can change, can come in a notice with really fine print and hard to understand and blah, blah, blah... just too scary to bother with. I can't see the point of the aggravation. I have credit. I got a car on credit. I could also get some other installment type credit. Much better than revolving pointless credit, imo.

If I would have had cash for the full amount of the vehicle I probably would still have financed a small portion because I do want to buy a house some day, maybe and that'll require credit (most likely, although there was one locally I was just a couple K shy of having the purchase price outright on).

khorrell · 01-18-2008, 10:50 AM

I have two credit cards and have chosen them both very carefully. One is through my credit union and one is through USAA bank. They both have fair and consumer-friendly policies. I have been trying to steer my friends and families away from the mega-bank cards that seem to have new fees and charges each month.

plor · 01-18-2008, 01:07 PM

I also have a USAA credit card that I use for almost everything. I pay the balance every month and get 1% cash back. It is easy keeping track of my spending because they have a killer online banking where I also have a savings and checking. I would recommend it to anyone who is eligible.

View Poll Results: How many credit cards do you have?
1-5	42	72.41%
5-10	10	17.24%
11-15	5	8.62%
15+	1	1.72%
Voters: 58. You may not vote on this poll

01-15-2008, 06:18 PM	#43
purplefdu Senior Member Join Date: Jan 2008 Location: Eliot, ME USA Posts: 453 Reputation: (27)	I have no credit cards as well. I had a college student one, but I closed it when it got bought by Citibank and they screwed with the original terms, not in my favor. I have a debit card for my joint account as well as my personal one. I am looking at getting a credit card to help clean up my credit but have to get my student loans out of default first, which looks like it will take a lawsuit. __________________ Homeward Bound Puppy Blog&Shades of Purple Blog best general coupon site & organic grocery coupon help

01-16-2008, 07:57 AM	#45
rorich Member Join Date: Jan 2008 Location: New York Posts: 58 Reputation: (14)	Building Credit Personally, I think it is good to use cash. However, whenever you plan to buy a hous or a piece of propert, many of us may not have the cash to do so. Using your credit cards wisely, like paying the balance in full and avoiding finance charges, will surely increase one's credit worthiness. Sometimes even when I have cash, I sue the credit card. I usually make my payment (online) as soon as I make the purchase. __________________ Watch Your Pocket

01-18-2008, 10:50 AM	#49
khorrell Senior Member Join Date: Jan 2008 Posts: 336 Reputation: (35)	Two, chosen wisely. I have two credit cards and have chosen them both very carefully. One is through my credit union and one is through USAA bank. They both have fair and consumer-friendly policies. I have been trying to steer my friends and families away from the mega-bank cards that seem to have new fees and charges each month.

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01-15-2008, 04:46 PM	#41
beansac Member Join Date: Jan 2008 Location: Chicago Posts: 32 Reputation: (13)	Absolutely zero. It takes quite a bit of will power to not spend money you don't have, and I don't have that kind of will power to spare.

01-15-2008, 06:12 PM	#42
Anthony Marrone Member Join Date: Jan 2008 Location: Syracuse, New York Posts: 56 Reputation: (18)	6 credit cards, all carrying different balances, none of them with any activity in the past three months. I'm keeping the accounts open only because I want to keep my available credit-to-debt ratio relatively stable, and closing an account lowers the amount of available credit. It is horrible to be subjected to the arbitrary and capricious fees and costs associated with most cards, but coming to the realization you no longer need the cards (although you could use them responsibly) is great.

01-16-2008, 04:59 AM	#44
Zarathstra Junior Member Join Date: Jan 2008 Location: Atlanta, GA Posts: 3 Reputation: (10)	I have 6, 2 with balances (I'm working on fixing that), plus 3 debit cards. I know, that seems weird, but they all have their purposes.

01-16-2008, 11:21 AM	#46
pastorjezer Junior Member Join Date: Jan 2008 Location: Houston Posts: 13 Reputation: (13)	I have three credit cards. I couldn't even fathom having ten or more. I'm just not that organized.

01-18-2008, 09:55 AM	#47
stardanced Junior Member Join Date: Jan 2008 Posts: 16 Reputation: (16)	I have four rewards credit cards, but I usually only use one or two in a given month, depending on what the current rewards and exchange rates are. I put almost all of my expenses on my credit cards (for the rewards), and I pay my balances in full each month.

01-18-2008, 10:25 AM	#48
jdp Senior Member Join Date: Jan 2008 Posts: 184 Reputation: (24)	No option for zero? I have a visa debit card but thats it. The way cc's are run seems so ? arbitrary? Like at any moment the terms can change, can come in a notice with really fine print and hard to understand and blah, blah, blah... just too scary to bother with. I can't see the point of the aggravation. I have credit. I got a car on credit. I could also get some other installment type credit. Much better than revolving pointless credit, imo. If I would have had cash for the full amount of the vehicle I probably would still have financed a small portion because I do want to buy a house some day, maybe and that'll require credit (most likely, although there was one locally I was just a couple K shy of having the purchase price outright on).

01-18-2008, 01:07 PM	#50
plor Junior Member Join Date: Jan 2008 Location: Madison, WI Posts: 9 Reputation: (10)	I also have a USAA credit card that I use for almost everything. I pay the balance every month and get 1% cash back. It is easy keeping track of my spending because they have a killer online banking where I also have a savings and checking. I would recommend it to anyone who is eligible.