Can One Have Too Many Credit Cards?
Author: Tom
Posted: Fri May 30, 2003 11:05 am
Post subject: Can One Have Too Many Credit Cards?
Is three credit cards (AMEX, Mastercard, Visa) too many to carry around?
I mainly use AMEX and Mastercard, but occasionally will use Visa (3-4 times a year).
I could leave the Visa at home, but I am worried that if I need it, I won't have it on me. All three are rewards cards with high ($10,000+) limits.
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Author: Ira
Posted: Fri May 30, 2003 11:06 pm
Post subject: Can One Have Too Many Credit Cards?
It depends entirely on usage and how fat or lean you want your wallet to be. For instance, I currently carry four cards: an AAA Visa which I use only for the 5% pay-at-the-pump gas rebate, a Shell Mastercard from Citibank for Shell gas and the 1% rebate for all other purchases, a BP Visa which gives a 3% rebate on BP/Amoco + a 1% rebate on other purchases, and my Citibank ATM/Mastercard. I'll be phasing out the BP card since they only send out $20.00 "free" BP gas cards when the accumulated rebates reach $20.00. All my other cards give instant cash rebates. I have other "specialty" cards which I carry only when I'm going to speciific merchants. I have other cards which are only used for 0% balance transfers, so there's never any reason to leave home with the card itself. Hope this helps
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Author: Kitten
Posted: Tue Jun 03, 2003 9:32 pm
Post subject: Can One Have Too Many Credit Cards?
Ira is right. Personally, I have 3 mastercards and 2 visas. All serve a different purpose. Some give rewards, some have a very low rate, and one is issued through my local bank only for overdraft protection. What you have is fine. It is all in how you use your cards.
Posted: Fri May 30, 2003 11:05 am
Post subject: Can One Have Too Many Credit Cards?
Is three credit cards (AMEX, Mastercard, Visa) too many to carry around?
I mainly use AMEX and Mastercard, but occasionally will use Visa (3-4 times a year).
I could leave the Visa at home, but I am worried that if I need it, I won't have it on me. All three are rewards cards with high ($10,000+) limits.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira
Posted: Fri May 30, 2003 11:06 pm
Post subject: Can One Have Too Many Credit Cards?
It depends entirely on usage and how fat or lean you want your wallet to be. For instance, I currently carry four cards: an AAA Visa which I use only for the 5% pay-at-the-pump gas rebate, a Shell Mastercard from Citibank for Shell gas and the 1% rebate for all other purchases, a BP Visa which gives a 3% rebate on BP/Amoco + a 1% rebate on other purchases, and my Citibank ATM/Mastercard. I'll be phasing out the BP card since they only send out $20.00 "free" BP gas cards when the accumulated rebates reach $20.00. All my other cards give instant cash rebates. I have other "specialty" cards which I carry only when I'm going to speciific merchants. I have other cards which are only used for 0% balance transfers, so there's never any reason to leave home with the card itself. Hope this helps
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Kitten
Posted: Tue Jun 03, 2003 9:32 pm
Post subject: Can One Have Too Many Credit Cards?
Ira is right. Personally, I have 3 mastercards and 2 visas. All serve a different purpose. Some give rewards, some have a very low rate, and one is issued through my local bank only for overdraft protection. What you have is fine. It is all in how you use your cards.
posted by CardRatings.com at 1:31 PM
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