How many credit cards do you have?

soupkitchen96 · 12-23-2007, 09:26 PM

I carry quite a few credit cards (close to double digits). People always tease me about it. But according to this statistic from Bankrate, I'm not alone!

Quote:

While most Americans carry between five and 10 credit cards, some people carry up to 50 -- which could wreak havoc on your credit score.

How many cards do you have? Are you trying to cut down?

NYC4ever · 12-23-2007, 09:30 PM

i rotate between 3 or 4 cards i use regularly. i'll sign up for 0% apr ones if i have a chance to transfer balances from higher interest cards. then i'll cut up the other cards.

lightningfast35 · 12-24-2007, 01:37 PM

I'm only have one credit card because I'm a student and can't qualify for the majority of cards. If I could, I'd still just stick with one card. I like minimalism and light pockets

arcadian · 12-24-2007, 01:50 PM

one card is the way to go. in the long run you will be much happier just paying off your monthly expenses. too many people only make the minimum payment in college. they get you with these 0% intro aprs, free t-shirts and such. don't fall for it! keep up the credit card diet.

when i see a guy open his wallet with 10 credit cards i think to myself geez this guy must be really bad at managing his money.

billsux · 12-24-2007, 03:52 PM

I only use a couple of cards now, but I have about a half dozen from school. Every day there was another free t-shirt cc to sign up for.

Sophie · 12-25-2007, 02:34 AM

Just the one MC with a $2000 limit.

Lightningfast35, I second the minimalism and light pockets.

davoscat · 12-27-2007, 01:53 AM

Quote:

If I could, I'd still just stick with one card. I like minimalism and light pockets

I wish I were this smart back in my school days. Maybe my student loan payments wouldn't be this astronomical.

Philip Brewer · 12-27-2007, 04:36 AM

I'd like to have fewer, but have some reason why I keep each one.

I have a Discover, that is actually the main one I use.

I have a MasterCard that I use places that don't take Discover. It's also the oldest card I've got (account open about 20 years), so I figure it's worth keeping for that reason.

I have a Visa that I use for "personal" expenses, such as gifts for my wife. (She usually writes the checks to pay the bills, except for that card.)

The first two are joint accounts that my wife shares, plus she has one from before we got married that she keeps to maintain some credit in her own name.

So, that's four credit card accounts for two people. That seems like more than we really need, but it's hard to see which one we'd get rid of.

Linsey Knerl · 12-27-2007, 10:01 AM

We have 6 cards, but each one has a different purpose. Since our dollar store doesn't take MC, we need a good VISA with rewards. Since our other local store doesn't take VISA, we need a good MC with rewards. I also use my Amazon card for Amazon purchases and my PayPal card for PayPal purchases. Other than that, the others are just there for emergencies, and we've only used them for very small purchases.

We have done well to pay everything off before interest accrues. It has increased our credit score by 100 points in the past year, so we're pleased with the way we've been handling them.

kav122 · 12-27-2007, 06:36 PM

I have a debit card and that's it. Why isn't 0 an option on the poll?

View Poll Results: How many credit cards do you have?
1-5	43	72.88%
5-10	10	16.95%
11-15	5	8.47%
15+	1	1.69%
Voters: 59. You may not vote on this poll

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12-23-2007, 09:30 PM	#2
NYC4ever Junior Member Join Date: Dec 2007 Posts: 14 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	i rotate between 3 or 4 cards i use regularly. i'll sign up for 0% apr ones if i have a chance to transfer balances from higher interest cards. then i'll cut up the other cards.

12-24-2007, 01:37 PM	#3
lightningfast35 Junior Member Join Date: Dec 2007 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I'm only have one credit card because I'm a student and can't qualify for the majority of cards. If I could, I'd still just stick with one card. I like minimalism and light pockets

12-24-2007, 01:50 PM	#4
arcadian Member Join Date: Dec 2007 Posts: 36 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (11)	one card is the way to go. in the long run you will be much happier just paying off your monthly expenses. too many people only make the minimum payment in college. they get you with these 0% intro aprs, free t-shirts and such. don't fall for it! keep up the credit card diet. when i see a guy open his wallet with 10 credit cards i think to myself geez this guy must be really bad at managing his money.

12-24-2007, 03:52 PM	#5
billsux Junior Member Join Date: Dec 2007 Posts: 4 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I only use a couple of cards now, but I have about a half dozen from school. Every day there was another free t-shirt cc to sign up for.

12-25-2007, 02:34 AM	#6
Sophie Junior Member Join Date: Dec 2007 Location: Sydney, Oz Posts: 19 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Just the one MC with a $2000 limit. Lightningfast35, I second the minimalism and light pockets.

12-27-2007, 04:36 AM	#8
Philip Brewer Wise Bread Blogger Join Date: Jul 2007 Location: Champaign, IL Posts: 178 Thanks: 1 Thanked 6 Times in 4 Posts Reputation: (27)	I'd like to have fewer, but have some reason why I keep each one. I have a Discover, that is actually the main one I use. I have a MasterCard that I use places that don't take Discover. It's also the oldest card I've got (account open about 20 years), so I figure it's worth keeping for that reason. I have a Visa that I use for "personal" expenses, such as gifts for my wife. (She usually writes the checks to pay the bills, except for that card.) The first two are joint accounts that my wife shares, plus she has one from before we got married that she keeps to maintain some credit in her own name. So, that's four credit card accounts for two people. That seems like more than we really need, but it's hard to see which one we'd get rid of.

12-27-2007, 10:01 AM	#9
Linsey Knerl Wise Bread Blogger Join Date: Jun 2007 Posts: 80 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (25)	We have 6 cards, but each one has a different purpose. Since our dollar store doesn't take MC, we need a good VISA with rewards. Since our other local store doesn't take VISA, we need a good MC with rewards. I also use my Amazon card for Amazon purchases and my PayPal card for PayPal purchases. Other than that, the others are just there for emergencies, and we've only used them for very small purchases. We have done well to pay everything off before interest accrues. It has increased our credit score by 100 points in the past year, so we're pleased with the way we've been handling them.

12-27-2007, 06:36 PM	#10
kav122 Senior Member Join Date: Dec 2007 Location: Minneapolis, MN Posts: 526 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (243)	I have a debit card and that's it. Why isn't 0 an option on the poll?