846
© 2022 Fairygodboss. All rights reserved.
How many credit cards do you have?
I ask because this conversation came up with friends the other day and I found out a lot of my friends have +3 or more credit cards. I was kind of shocked. Should I have more than 1?
I have one personal credit card that I chose to maintain a high credit score and it also has a lot of point-related perks for things like... hotels and airlines.
FGB’ers, how many credit cards do you have and what are they used for??
Francesca Vanderwall
610
05/29/19 at 10:37PM UTC
I have way too many...two Discovers, Chase Freedom, United Explorer, Ulta co-brand, two Bank of Americas, and a small stockpile of store cards. But I don't use most of them. My heavy hitters are the Discover it and Chase Freedom for the rotating categories. I use United Explorer for travel purchases. The store cards are...for those stores and if I ever need to do a balance transfer, I get good offers on Bank of America.
Maggie BBusiness and Data Analysis Consultant
983
05/24/19 at 3:56PM UTC
Technically right now I have four, but only two of them are in rotation.
- I started with one with a small limit through my bank - and I had to get that one to get tires for my car when I was working a job that didn't pay well. Going through my bank meant I could easily set up a payment plan for it and keep my credit score high.
- Later, I got a CareCredit card to cover vet costs for my cat, and paid it off as quickly as I was able. Haven't closed it because it looks good to have that credit available, but I don't keep it on me at all, either.
- I kept an eye on my credit score and got another card after about a year of watching my score tick up as I paid down my existing debts. This one also is my "big purchase" card, and I did a balance transfer of the remainder of my car loan to it to pay it off interest-free.
- Once I started investing in my hair and how I present myself in the office, I got an Ulta Mastercard to get a discount on my cut-and-color going forward.
Rebecca LakeFreelancer, blogger, homeschooling mom of two.
400
05/24/19 at 3:03PM UTC
I have 6 but I only use one and I pay it in full every month. I keep the other ones open just for the credit score benefit. I think having just one card is fine if that works for you, you're able to maintain a good credit score and it offers perks/benefits you can use.
Anonymous
05/23/19 at 2:41PM UTC
Five. Three of them I’ve had for 20+ years, so I “can’t” get rid of them - negative impact on my credit score. The other two are newer and have nice perks.
I have all of my bills auto-charge to my credit cards and then pay them off each month. No interest, but nice cash back and rewards. It also gives an excellent credit score.
Anonymous
05/23/19 at 2:20PM UTC
Two! The Chase Freedom card which I'm currently—and successfully—paying off, and a PNC travel credit card, which I share with my partner (aka joint account).
Anonymous
05/23/19 at 2:11PM UTC
I went from zero to 7. I like Tamara have a high limit card that gives me cash back rewards and so I tend to use that one more than the others.
It all started when I went looking to buy a house. My credit was meh. I was told by a woman at a bank who I was getting a car loan through to get a credit card and go buy something! It wasn't that my credit was bad but it didn't have enough revolving credit and not enough credit history. So basically after my car loan was paid off I had not credit history.
So I went to Credit Karma and checked out my score. I also learned how my credit score works and they gave me recommendations on what kind of credit cards to get and how to pay them off. That's how I got my high limit/cash back rewards Discover It. Since then I have opened other ones and the credit limits on the cards astounded me. I went from the low 600's to now a very proud FICO score of 776! TU 743 and EQ 746. It took me a year to get to the 700's and just about 2 years to get to 776. I'm shooting for that 800! One day! :)
Tamara R.
118
05/23/19 at 12:38PM UTC
I have 1 high credit limit card that gives me cash back rewards that is my go-to card. I have 5 store-specific cards for stores I shop regularly that give me extra rewards (usually 5% off). 1 of those is a co-branded card (Macy's/AMEX), so that acts as my back-up credit card should my regular one get compromised and I'm without it for a day or two. If you regularly use your credit card, a back-up is probably a good idea.
LennaDog mom. Super into wellness, biking & reading
500
05/22/19 at 4:45PM UTC
I used to have: a USAA card, a Target card, a TJ Maxx Card, a Chase card; now, I only use my Chase card so that all the points are consolidated and I barely ever shop at Target!
© 2022 Fairygodboss. All rights reserved.