How many credit cards do you own...

[dcox20]

Originally Posted by Exile

My wife and I have 2 credit cards, but use only one. We used to use more but found it unwieldy. By the way, if you decide to stop using a credit card, put it away or destroy it. BUT DON'T REQUEST THE CARD ISSUER TO CLOSE YOUR ACCOUNT. DOING SO CAN HURT YOUR CREDIT RATING.

is this true? I would think that the "availability of credit" would be seen as a bad thing in most circumstances. specifically in a mortgage situation...

[simpleyme]

I really think it depends on how long you have had credit and if your credit is good
we have opened cards closed cards none of it seems to affect our credit in any way

[lillyb]

Zero. Don't want 'em, don't need 'em.

[rennigade]

I have 3 credit cards. I wasn't aware people still paid with cash?!

It's a shame since all you people who don't use credit cards are actually losing money. Get a discovercard or equivalent who pays 5% on gas purchases, and 1% on everything else.

The problem comes when the idiots who don't have cash rack up mass amounts of credit card debt. What you need to do is when you make a credit card purchase, set aside the amount you spent in cash. Then at the end of the month you can pay your card back in full. You won't have to worry about the high interest rates credit cards hit you with if you pay it off in full each month!

[simpleyme]

[quote=rennigade;126386]I have 3 credit cards. I wasn't aware people still paid with cash?!

It's a shame since all you people who don't use credit cards are actually losing money. Get a discover card or equivalent who pays 5% on gas purchases, and 1% on everything else. (end quote)

you crack me up ;-) i am not sure 1 or 5 percent is worth the headache for such a piddley amount of money ;-)

I guess if you buy a lot or have large bills it could be worthwhile
how much do you spend on your card and how much do you get back?
give me a good reason to mess with waiting in line while they run my credit card ,deal with Citibank went they screw up my bill, geeze o pete have you ever had to call those morons over a billing error ,why do they just not hire only supervisors since the only thing the first guy can do is answer the phone
I have never had to pay interest ,Citibank did screw me out of a buck once LOL

I would only deal with that crap for some serious money ,

fill me in

[buzz]

DW and I made over $100 from Discover cash-back last year. With double-bonus gift cards, even a cheapskate like me can take the mrs. out for lobster and king crab legs.

Now with a Chase Freedom card, we get about $15/month just from the 3% on gas and groceries. Pidley to many, perhaps, but I like the free nights out.

[simpleyme]

buzz - so your looking at 300 a year ,that's not too bad but I guess I am just lazy I do not like the idea of tracking my receipts checking my bill paying my bill sometimes i think i want to get into the rewards thing but god i hate the"convenience " of credit cards LOL

I have no bills other than my mortgage so I basically only get utility bills
cable phone and electric, I work within walking distance of home
on our special night out we usually just hop on our motorcycles and go for a ride and picnic at the ocean, we are cheap simple folk LOL

[buzz]

simpleyme--

Nothing wrong with that. It sounds like you got it goin' on. Actually, I was a cash guy for 30 years, until I got married and we couldn't get the apartment we wanted because I had no credit file.

One nice thing about plastic--it doesn't turn into 14 crumpled wads in 5 different pockets by the end of the week. I was always embarassed and apologizing as I tried to "iron" my crinkly bills at the cash register.

[Hez]

Originally Posted by buzz

One nice thing about plastic--it doesn't turn into 14 crumpled wads in 5 different pockets by the end of the week. I was always embarassed and apologizing as I tried to "iron" my crinkly bills at the cash register.

The biggest downside of plastic, for me, is when the shop charges a "convenience" fee. Not very convenient!


I only own 1 credit card. I couldn't be bothered to own more than one! Mostly because I couldn't be bothered to keep up with different payment schedules; it's just more to keep on top of and it's not worth the time, personally.

But if other people can take the time to keep up with multiple cards and use the cards to their advantage, I say go for it!

[niquieg]

I have 4

[myself]

[quote=simpleyme;126392]

Originally Posted by rennigade

I have 3 credit cards. I wasn't aware people still paid with cash?!

It's a shame since all you people who don't use credit cards are actually losing money. Get a discover card or equivalent who pays 5% on gas purchases, and 1% on everything else. (end quote)

you crack me up ;-) i am not sure 1 or 5 percent is worth the headache for such a piddley amount of money ;-)

I guess if you buy a lot or have large bills it could be worthwhile
how much do you spend on your card and how much do you get back?
give me a good reason to mess with waiting in line while they run my credit card ,deal with Citibank went they screw up my bill, geeze o pete have you ever had to call those morons over a billing error ,why do they just not hire only supervisors since the only thing the first guy can do is answer the phone
I have never had to pay interest ,Citibank did screw me out of a buck once LOL

I would only deal with that crap for some serious money ,

fill me in

Simplyme,
How about $630-$640 last year. That's the cash back my wife and I have gotten back on our Chase Perfectcard. And I've never had a problem with them whatsoever.
And the other thing that you're forgetting is that if you are paying in cash (and don't ask/get 1%-2% back by paying cash), then you are taking a hit for the for the fact that they'll spread their overall costs for credit card transactions over the whole product line (so that they don't have to cover the costs themselves).

[Lindahfx]

Let me think:

Visa - pay off each month
MBNA - revolving balance (working on paying it off)
bank MC - pay off each month
AMEX - pay off each month
Sears - pay off each month

[myself]

Sorry, I forgot to mention how many we had.
18 altogether.
Zero (0) that carry a balance where we pay no interest on them (unless they were specifically transferred into savings to earn more money).
We have 1 reward card that we use all the time for everything, but it's paid in full every month.

To add to the survey, if anyone has a non-income spouse (i.e. one that stays at home with the kids/pets/whatever), do you make sure that the non-income spouse gets new credit lines in their name? My wife recently picked up 2 new credit lines under her name, which I'm happy about because it shows to lenders that she's worthy (even if she doesn't have an income). And she didn't lie on the application, it merely asked for "Total household income", and since mine is the only income she put that down.

[kenstradamas]

I have none, plan on getting one.

[Dave Rowtree]

I have two cards, one for spending and one just for balance transfers. Its vital you don't get tempted by credit card companies offering good balance transfer deals along with purchase options; you shouldn't do both on the same card since they will happily start charging you interest at the higher rate for the purchases before the 0% transfer rate.

[ginene]

I only have 1

[rags2riches]

I have 2

[i-endeavors]

not including my bank/debit and business charge cards, I have two for personal use. Both offer cash back and other rewards that I take full advantage of while never carrying over a balance.

[debtfreecb]

I have
2 Visa (1 will be closed next month)
1 Discover
1 Mastercard (which will be closed this month)
No department store cards

[Viriatha]

Zero. Credit cards are eviiiilllllllll. Especially now that there are bank cards that work just like them.