How many credit cards do you own?

Discussion in Credit Cards started by AskJeeves • Dec 28, 2013.

  1. forextraspecialstuff

    forextraspecialstuffActive Member

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    I have three and I am not looking for any more. I have two Visas and one American Express. One of the Visa credit cards I would love to close because the interest is really high, but it was my first card, oldest account, never missed a payment or late by even a day so I'm keeping it open. I may call them and try to negotiate a lower interest rate. I have friends who honestly have more than one dozen credit cards, but they all have low limits, like $300, so I don't think it's very smart on their part.
     
  2. robinegg

    robineggMember

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    I have one credit card and I don't need more than that. Frankly, I think that more than one is too much to keep track of for one person. For the record, I am 21 years old. I know that my parents have several (my dad takes care of the finances and my mother doesn't have a credit card), and I think that for a family, it's okay to have more than one, especially for rewards.
     
  3. pklatonja

    pklatonjaNew Member

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    I have two credit cards, I wouldn't need the second one, but my first one was Maestro and I couldn't register paypal on it, so I had to get another one. The Visa Electron almost exclusively stays at home for internet shopping.
     
  4. Fauxpat

    FauxpatMember

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    I actually don't own a single credit card. I had completely shot my credit a few years back from being young, dumb, and having too much disposable income. Instead of getting a starter card with high rates, or a secured card, I'm just going to focus on paying down my debt and managing any issues on my credit report. Once everything gets better, though, I'm certainly going to utilize a line of credit.
     
  5. sully3333

    sully3333Member

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    I don't have any. However, I should probably get one at some point just for the purpose of building credit.
     
  6. safetydancepants

    safetydancepantsNew Member

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    My hubby and I only have 1 credit card, and I would honestly like to get rid of it. We didn't have any until a year and a half ago, when we tried to buy a house, and had no credit. My husband's credit score needed some help, so we got a credit card and that repaired his credit within about 6 months.
    I like the rewards (our card gives us Amazon $, which we always end up using), but I make a point to pay it completely off every month. I am really uncomfortable with the idea of buying things on credit, so until I am in a situation where I have no other choice, I won't buy something we don't have the money to immediately pay off. Helps keep me within the realm of reality with our finances!
     
  7. daleo717

    daleo717Member

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    I have one credit card and my husband has one. I only have mine in case of emergencies and also if you have to rent a truck or car and they want a credit card up front. About 15 years ago I had 10 credit cards. How I got ten was every time I would get a letter from a credit card company I would apply just to see if I would be approved. I got approved for ten credit cards, which was crazy. One company even gave me a $15,000 line of credit. I was not making high earnings. I thought this was crazy. I ended up using some of these cards to buy all new furniture, a new car and on and on. I ended up having to consolidate my loans to these credit cards. I cut them all up and paid off my lower interest loan from the bank. I was done with having more than one credit card.
     
  8. mercantile519

    mercantile519Member

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    I just have one, because I don't qualify for any others haha. I don't make enough money to even make applying for another one worth it. This card started out as a secured card, and I had someone cosign on it with me. Otherwise, I'd still be without.
     
  9. Betsyake

    BetsyakeMember

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    I have two credit cards. Having a credit card is pretty good sometimes, such as shopping, hotel reservation, etc. I would get more if it's necessary.
     
  10. iam911

    iam911Member

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    I have 5 credit cards right now, and I am applying for one more currently. A lot of people I know only have 1, but I think credit cards are a good way to make some money. As long as you are good on paying your bills in full and on time, credit cards are a better way to reap in the rewards, especially with all the sign-up bonuses and cash back bonuses that many of them offer. For sign-up bonuses, I am pretty much getting free rewards for what I am going to be spending anyways. It is a great way to make a little bit on the side. I also enjoy the cash back perks for buying what I would normally buy. The Sallie Mae Mastercard is a great card, in my opinion, because it offers 5% cash back on groceries and gas stations, something that I am always buying. Credit cards really are a great way to earn a little extra, as long as you are only buying what you can afford and remember to pay it off.
     
  11. delusional

    delusionalActive Member

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    I only have one credit card. I don't need another one. I also have several debit cards connected to several accounts.

    I also have a fairly low spending limit on my credit card just so I don't overspend. It's always easy to spend money you don't technically have on your account.
     
  12. GemmaRowlands

    GemmaRowlandsActive Member

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    I only have one at the moment, but at the height I had three. I was using them to try and improve my credit score because I am looking to own a home at the moment, and I am more than happy with what I managed to achieve while I was doing it. I used the interest free money and put it in a high interest account so a managed to make over £100 from the cash that I used, which I am now using to put towards my house. However, I would say that you should never have a credit card that you would not be able to pay back, and that is one of the most important things. You don't want to get into debt at any point, because it can be very difficult to get yourself out of debt once you are in it.
     
  13. PhilA

    PhilAMember

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    I only have one credit card and I use it to throw stuff on through out the month, take the 30 days interest free and then pay it off. I am not going to juggle different cards, interest rates, and bonus points. It is a risky game, the only option with a credit card is to pay it off if you ask me.
     
  14. ReDGuNNeR

    ReDGuNNeRMember

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    I only have one credit card myself and it's strictly for an emergency. Even with all the cashback offers and other nifty savings bonuses found on most CC offers and websites, I will not take the plunge. The idea of a card like AmEx interests me, especially after hearing how well their personal concierge service really works, but it's nothing I really need. For convenience, I'd rather save up the money myself and not have to worry about a bill at the end of the month.

    That is not to say that building credit is pointless, because it isn't. There are ways to build your credit without taking out multiple lines of risky credit however. If you have a phone line with most cell phone companies you are already building some sort of credit.
     
  15. jmoriarty630

    jmoriarty630Banned

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    I have two credit cards at the moment, and right now I'm not intending to get more. One of them is a normal card, and the other has a student option, which means I pay no fees for maintenance and online banking. :)
     
  16. asereht1970

    asereht1970Member

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    I have 4 credit cards and I am planning to pay them in full one by one so that I can be debt-free. That is my goal for this year although I think that would be hard to do. Although I am thankful that I can still pay each card more than the minimum required payment, I still wish I could stop using them. It's hard to control using them especially when you really wanted something and you don't have cash for them.
     
  17. Epicfied

    EpicfiedMember

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    I technically have 5 different credit cards. I have an 3 store cards which have given me amazing discounts on things I would've been buying anyway.
    Those specifically have saved me a ton of money and on two of them 0% interest on high purchases for 6 months - a year.
    My other two are for basic use. One has no benefits and is more of an emergency card for me.
    The second one has a reward system and I get a percentage back on my purchases.
     
  18. Peninha

    PeninhaWell-Known Member

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    I don't get why you guys need so many credit cards, what's the point? I have one and there are months when I don't even use it because I don't like spending what I don't have...
     
  19. mythman

    mythmanActive Member

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    When I was in college, I (like most students in schools where most of the kids are rich kids & trust-fund babies) was deluged with offer-after-offer for new credit-cards ... rich kids--I guess--think 'money is nothing' and so they're pretty-sure they can spend as much as they want (as long as they keep paying the minimum for the cards, makes no difference; right? ;))

    I had a slightly-different outlook. I wouldn't say I was a 'rich kid' or a 'trust-fund baby' (although, do any of them ever say they were? :D), but I was in a private-school college on a scholarship---so I was practically SUBMERGED IN the 'money is nothing'-idea. Plus, I'm owed 'several-bajillion dollars' for surviving a carefully-staged murder (think '9-11'-level conspiracy); so 'the back of my mind' thinks I own everything anyway :rolleyes:

    However, I learned that was not the case. I had one ... maybe two credit-cards, but no real income. My 'downfall' was when I gave my credit-card information to one of those magazine subscription-selling companies (that subscribe to the magazines and get 'bulk-discounts' for buying so-many subscriptions, and that "pass the savings on to YOU") and they charged me for 'years-&-years' (or some other way-too-long time) in advance ... for which I obviously could not pay, as it went above some 'maximum charge-limit' on the card.

    (The credit-people DON'T CARE that I defeated death to remain here, nor do the subscription-people, the school-people, the money-people ... all that they care about is that THEY GET PAID for what they do (whether I 'deserve' their service or not!))

    That's what each card is: another group of people who only care that they get paid to monitor your credit-usage. If you're well-paid & organized enough to handle the management-responsibilities (paying them on time, keeping the information you need, etc.), then you're supporting 'industry' with your cards (i.e. paying people to sit still & watch your other spending :rolleyes:)
     
  20. Onionman

    OnionmanActive Member

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    I have three credit cards, though I only really use one or occasionally two. In fact, I've never used the third one but they did offer me free cinema tickets for signing up...As it's not costing me anything and it gives me that option of extra credit, I will continue to hold onto it for now.
     
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