How many credit cards do you actively use?

[Anonymous]

2 Mastercards - 1 for everything, paid in full monthly, 1 low limit card for online purchases only, paid in full monthly.

[Anonymous]

The next question is how many of your cards have a balance.

[Anonymous]

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

[Anonymous]

Anonymous wrote:

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

+1. Most UMC people don't have balances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Chase Freedom Unlimited – everyday spending
Chase Sapphire Reserve – dining out and general travel
Chase IHG One Rewards Premier – IHG hotels
Chase United Club – most United airfare
Chase United Quest – occasional United airfare
Chase World of Hyatt – Hyatt hotels
Amex Hilton Honors Aspire – Hilton hotels
USAA Signature – backup

We earn enough rewards to take 3-4 family vacations per year with all airfare and hotel costs covered by points and miles. Five nights on average for four people. We only fly first class and stay in premium suites at upper tier hotels like Waldorf Astoria, Park Hyatt, and Intercontinental.

Why the Quest card AND the Club card? Quest brings no additive value and has a $250 annual fee. You get 3x for United bookings on it, but get 4x on the Club card

I'm guessing they originally opened both to get two signup bonuses, but yes its weird they pay both annual fees every year. Although they are paying a ton of annual fees and given how much travel they do, they are probably big spenders who haven't even noticed the extra $250 each year.

Good point. Although the hotel cards all have really good ongoing value with credits/free nights. And the CSR is really net $250 fee, and has industry leading travel/rental car insurance, along with restaurant priority Pass access and points transferrability, so it's fee is worth it for most, I think. In fact I don't think the United Club card is worth it for most people unless you are flying United more than say once/month. The additive value of their lounges just isn't worth $650.

But if you do travel a lot the airline cards that grant you lounge access are worth it.

We have 10+ cards.

AmexPlatinum: gives Centurian lounge access, the perks of Fine Hotels pays the $600 yearly fee with 1 stay (free breakfast for 2---typically $30-45/person daily, $100-200 credit for dining/drinks at the hotel during stay, early checkin if available and guaranteed late checkout)
Delta Reserve Amex: Delta Lounge access, earn points towards miles/status on Delta for the year (now that it's all $$$ based for status this will help a bit)

Chase Sapphire Reserve
Costco Visa: Gas and Costco

I think the domestic US lounges, on average, are really nothing special. Hence the monthly or more travel to make those cards worth it- especially the United and AA ones. Like you said, you can use the Amex Plat for Delta access, although the guest access for family members makes it tougher if traveling as a group.

And yes I agree the Amex Plat is usually worth the fee, assuming you can maximize the value of the various perks, but those have some hoops to jump through- may not be worth it for a lot of people. Like the FHR credit- sure I guess that's a nice option,but I don't usually stay in hotels that are that expensive, so it's not worth a lot to me. I also wouldn't value breakfast that highly- no way you would spend that much on breakfast at a nearby restaurant or cafe, for instance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

+1. Most UMC people don't have balances.

PP, yes I agree,but I have been surprised at times talking to people who I know make a good amount of money and have a balance from some old trip,or a big purchase, etc. There are some people who assume it's completely normal to finance stuff like that with cards, even with a high income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

+1. Most UMC people don't have balances.

PP, yes I agree,but I have been surprised at times talking to people who I know make a good amount of money and have a balance from some old trip,or a big purchase, etc. There are some people who assume it's completely normal to finance stuff like that with cards, even with a high income.

We never pay interest but will keep a balance on a card to maximize a zero interest period. We always have the money to pay it off, but will let that money earn interest in CDs or bonds.

[Anonymous]

I have two - citi double cash and an amazon prime chase visa - neither have annual fees. I pay both in full every month and I get cash back as my reward.

I was JUST wondering if I should open Chase Sapphire Preferred as a third card or not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

+1. Most UMC people don't have balances.

PP, yes I agree,but I have been surprised at times talking to people who I know make a good amount of money and have a balance from some old trip,or a big purchase, etc. There are some people who assume it's completely normal to finance stuff like that with cards, even with a high income.

I would have though no one I knew carried a credit card balance but I recently turned two friends on to YNAB, and I was surprised to hear both of them carry a balance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The next question is how many of your cards have a balance.

60% of Americans don't have a credit card balance. I'll bet that number is much higher among this crowd

+1. Most UMC people don't have balances.

PP, yes I agree,but I have been surprised at times talking to people who I know make a good amount of money and have a balance from some old trip,or a big purchase, etc. There are some people who assume it's completely normal to finance stuff like that with cards, even with a high income.

We never pay interest but will keep a balance on a card to maximize a zero interest period. We always have the money to pay it off, but will let that money earn interest in CDs or bonds.

I have done that in the past, and right now it's a good interest rate environment, assuming you can get the zero % interest with no fee. But a pretty niche thing to do.

[Anonymous]

Anonymous wrote:I have two - citi double cash and an amazon prime chase visa - neither have annual fees. I pay both in full every month and I get cash back as my reward.

I was JUST wondering if I should open Chase Sapphire Preferred as a third card or not.

If you want to get into the points/miles game, yes it's a good card to start with. But it's a good amount of work/learning to figure out how to maximize your points, both from an earning and using perspective. A lot of people understandably don't have an interest in doing that. If you don't, a 2% no fee card like the Double Cash is a good option- cash is king.

[Anonymous]

1

And my business uses 1.

I guess we could start using more. I actively wanted to avoid too many. It’s too annoying to switch banks if that ever comes up (like if our checking account changes or got hacked).

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have two - citi double cash and an amazon prime chase visa - neither have annual fees. I pay both in full every month and I get cash back as my reward.

I was JUST wondering if I should open Chase Sapphire Preferred as a third card or not.

If you want to get into the points/miles game, yes it's a good card to start with. But it's a good amount of work/learning to figure out how to maximize your points, both from an earning and using perspective. A lot of people understandably don't have an interest in doing that. If you don't, a 2% no fee card like the Double Cash is a good option- cash is king.

Thank you! Maybe I can table it for this year and re-consider in 2025 due to the brain capacity required.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Chase Freedom Unlimited – everyday spending
Chase Sapphire Reserve – dining out and general travel
Chase IHG One Rewards Premier – IHG hotels
Chase United Club – most United airfare
Chase United Quest – occasional United airfare
Chase World of Hyatt – Hyatt hotels
Amex Hilton Honors Aspire – Hilton hotels
USAA Signature – backup

We earn enough rewards to take 3-4 family vacations per year with all airfare and hotel costs covered by points and miles. Five nights on average for four people. We only fly first class and stay in premium suites at upper tier hotels like Waldorf Astoria, Park Hyatt, and Intercontinental.

Why the Quest card AND the Club card? Quest brings no additive value and has a $250 annual fee. You get 3x for United bookings on it, but get 4x on the Club card

I'm guessing they originally opened both to get two signup bonuses, but yes its weird they pay both annual fees every year. Although they are paying a ton of annual fees and given how much travel they do, they are probably big spenders who haven't even noticed the extra $250 each year.

Good point. Although the hotel cards all have really good ongoing value with credits/free nights. And the CSR is really net $250 fee, and has industry leading travel/rental car insurance, along with restaurant priority Pass access and points transferrability, so it's fee is worth it for most, I think. In fact I don't think the United Club card is worth it for most people unless you are flying United more than say once/month. The additive value of their lounges just isn't worth $650.

But if you do travel a lot the airline cards that grant you lounge access are worth it.

We have 10+ cards.

AmexPlatinum: gives Centurian lounge access, the perks of Fine Hotels pays the $600 yearly fee with 1 stay (free breakfast for 2---typically $30-45/person daily, $100-200 credit for dining/drinks at the hotel during stay, early checkin if available and guaranteed late checkout)
Delta Reserve Amex: Delta Lounge access, earn points towards miles/status on Delta for the year (now that it's all $$$ based for status this will help a bit)

Chase Sapphire Reserve
Costco Visa: Gas and Costco

I think the domestic US lounges, on average, are really nothing special. Hence the monthly or more travel to make those cards worth it- especially the United and AA ones. Like you said, you can use the Amex Plat for Delta access, although the guest access for family members makes it tougher if traveling as a group.

And yes I agree the Amex Plat is usually worth the fee, assuming you can maximize the value of the various perks, but those have some hoops to jump through- may not be worth it for a lot of people. Like the FHR credit- sure I guess that's a nice option,but I don't usually stay in hotels that are that expensive, so it's not worth a lot to me. I also wouldn't value breakfast that highly- no way you would spend that much on breakfast at a nearby restaurant or cafe, for instance.

Yes, we normally wouldn't spend that much on breakfast. But if it's included, it's free, so I'm getting a great breakfast and spending "nothing". By having a full breakfast (with coffee included so don't need to spend $15 for us to get our coffees), it means we often don't eat lunch or only a light snack, so we save on that as well.

We often use the hotels for late checkout---we can get almost a full extra day in Hawaii for nothing---and take the red eye flight out of Hawaii. Spend the day at beach/pool, get ready by 4 pm where you still have your own room to shower in. Grab dinner and head to airport by 7/8pm for the 10-11pm flight. So you get almost full extra day in the sun and the comfort of full access to your room without paying for the room.

Also it's not just "high end/fancy hotels" in the Amex FHR. There are some more moderately priced ones in many locations. Sure not Holiday Inns but there are Marriotts and Hyatts.

Also you get Global Entry and Clear paid for with the cards once every 3-5 years

Also get yearly $200 hotel credit at FHR and $200 airline credit and $200 UberCash per year. Those 3 things alone pays for the card. And when you book the FHR or any hotel thru AmexTravel and pay the day you book (still refundable with the normal dates), you earn 5X the points. So we always do that to maximize points. Just used points to pay for luxury hotel room in the Caribbean over Xmas--a $7K value.


So YMMV, but for us all the perks we are getting are for things we would already be purchasing/doing. We are just saving money and getting more perks. So win-win

[Anonymous]

Anonymous wrote:How many credit cards do you actively use?

We have 2- an Amex Platinum and a Chase Visa. I haven't wanted more because it's more to manage but I'm now thinking we should mix it up a bit and get some other credit card benefits.

How many do you have... is it enough or too much?

1! It’s paid in full each month. The rest are debit cards.