How many credit cards is too many?

How many credit cards is too many?

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1.Just create an overflow savings account. Need money? Boom. Loan it to yourself.

you only need 1
unfortunately I have a couple

This. Build credit if you must but a credit card should be a single thing.

Why the fuck would you ever need more than one??? If you don't have that money...

One.

I earn middle-class wages and I only have a debit card on purpose so I will never be tempted to buy above my means.

I do have a line of credit on my bank-account of 2000 dollars, but I check my account almost everyday, and seeing that shit in minus makes me go sour, so it rarely happens

I would use my debit card more but my bank literally charges a $1 every time I use it so I literally only use it for their 24-hour ATM (where there is no fee).

No limit. The catch is, you can not carry a balance on any of them. Paying between 8 and 25 % interest a year, plus fees, on anything is financial suicide.

The interest is a penalty for not being credit worthy, credit cards are not intended to be loans. That is why it is, and should be, steep.

Just because you might find yourself someplace that won't take take one or the other, you might want to have both a Visa and a MC. But no one needs more than 2

I have four, one Amex, one Discover, one MC, and one Visa, I'd like to get a JCB card just for shits and giggles eventually.

My credit score is at 769 because I pay off every statement balance in full.

I agree with this. I typically have three that I regularly use and pay off well before the due dates. I also have automatic payment on the due date just in case. My checking account always has enough to cover my charges.

A lot of times I'll open an account if I get something special upon purchase then very seldom do I use those cards but a couple times a year afterwards but this is typically for large purchases over $1,000. My credit score is also nearly perfect. I haven't been late on a payment in 13 years.

Also most of my credit cards carry perks with them via rewards systems. My main Visa card nets me about $500 cash back every year. It's the one I use to pay most of my bills.

tl;dr as many as you want as long as you don't keep a balance on them.

>1

true story

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Hahahahahaha what?

It's not about how many, it's about having ones with redundant perks.

You can never have too many, unless you're trying to get a Chase card, they will deny if you have a lot. So most people start with a chase one.

You need a general card. Most people agree the best being Citi Double Cash for the 2% cash back on everything. Some argue some 1.5%'s are better since you don't have to redeem them in $25 intervals.

I get a grocery card, Amex Blue Cash Preferred, which has an annual fee. But the 6% cash back at grocery stores is extremely useful. Kroger has a plethora of gift cards, so you'd essentially get 6% cash back at all of these places if you funnel your money through the grocery store and then the store you need something from. I keep $100 worth of gift card balance in Amazon, a couple cards for Target, Mcdonalds, and Shell for gas. Made over $300 in cash back by doing that the last few years.

Finally, you'd be smart to get the rotating rewards cards. Discover and Chase have good ones you activate each quarter.

Only poor people pay with a debit card. If you're not an animal, you should set all these cards to auto-pay the full balance every month.

>I only have a debit card on purpose so I will never be tempted to buy above my means.
is this why you plebs are afraid of credit cards? good grief

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I don't understand why people are so credit card averse.

You literally reap rewards for paying for things you'd have to pay for anyways.

>You literally reap rewards for paying for things you'd have to pay for anyways.

>implying i'd pay for those things in the first place if I had to pay using cash

>Things rich people say unironically

Savings accounts are self evident for a rich person. That advice was for poor people. (Disclaimer: I was not the one giving that advice, then) A poor person can not afford not to have savings. A poor person generally has very little flex in their monthly budget (yes you need one of those too) surprising expenses can not be handeled by shuffling around unnecessary expenses, as paycheck to paycheck living middle-classers do.
Open a savings account at your bank. The same place you bank at now. No need to get fancy about who pays the best interest, you are climbing out of the poverty trap, you did not become an investor all of a sudden. Deposit a set amount of your paycheck, anything between $10 and 1/4 of the paycheck is fine. It can be done. Do not plan to touch it. Let it sit in there. Until SHTF.

18 yo faggot here, going off to college in the fall. I recently got a credit card and paid in every balance full. How long until I build a significant amount of credit?

If you're not paying it off every month, one is too many.

If you have good discipline and good credit, the churning thing can be pretty good. I have 10 cards and make a couple thou a year from it. But swapping out cards all the time feels a bit autistic.

Just wait a bit. Shouldn't take more than a year to get in the 700s.

But you're doing it right. I thought I was being smart by using a debit card until I was 21. But it made it really hard to get an apartment since I had no credit history.

>tfw 6 credit cards

Got the discover card when I was 19 and no one else would give me one with no credit, that was my only card for several years. Still my most used card, they have changing categories of up to 5% back on purchases, and its the only card that offers no fee cashback with purchases.

Then I got a Mastercard because I got $100 free merchandise at the store offering it.

Then I got the Amazon Prime Visa because it more than pays for itself in discounts, also $80 bonus for opening it.

Then last year I spent more money than I had and got anther Mastercard with a long 0% apr period, meaning I can pay just the minimum payment for a long time and no interest.

Also have the "Amazon store card" which I never use and deleted my account, but it still shows up on my credit reports and when checking out at Amazon. Gotta be careful its never selected as a default payment method- accidentally overlooked that once and got no notifications until it was overdue and insane interest and late fees added- had to pay twice as much for the shoes I bought with the "card" accidentally.

Oh yeah forgot I have 2 Citibank cards. Got invited for both, both have long intro 0% apr periods, they both give similar money back, and I wasn't sure which to get so I got both- second one they gave half as much credit limit.

So yeah, it is useful to have a bunch of credit cards because some basically give you free money for using them, big discounts at places you shop a lot, and flexibility - nothing wrong with running a balance as long as you can pay it off before a reasonable time.

>Gotta be careful its never selected as a default payment method
not a bad idea to set all your cards to minimum autopay. won't help with interest but at least will avoid late fees and credit dings.

obviously don't do this if you're living paycheck to paycheck and have to strategically pay things off. but if that's the case you shouldn't be buying shit from amazon using credit cards anyway.

I set the 0% APR cards on minimum autopay and everything else on full autopay.

I wasn't planning to use the Amazon store card and forgot I even had it when I accidentally charged it 3 years ago- before getting the Amazon Prime card, which is also a physical Visa credit card

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I have a back up Visa just in case, and also it is good for travel