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Personal Finance and Investing

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question everything

(49,274 posts)
Sun Nov 1, 2020, 12:35 PM Nov 2020

Too many credit cards [View all]

Some 10-15 years ago, I would play the games of getting a new card to shift balances from another and get a zero interest rate for several months. One way or the other we have many credit cards. There is the checking debit/credit - used for groceries and doctors visits; the idea that such expenses have to be covered, not deferred. There are the VISAs that we each use exclusively; There is once strictly for mail order drugs - too many. Some years ago, when we traveled overseas, we used Capital One that does not charge foreign exchange fees..

Also the Delta American Express which, when we traveled, we used the miles for upgrade or for part payment. Also save on luggage fees.

Generally we pay statements in full, certainly these days. If there is a major purchase when I know will take me several months to pay, I choose the one with the lowest interest rate.

And then there is Discover. We had it for many years, when we would shop at SAM where Discover was the only one accepted.

I use it from time to time just to... use it.

But as I got the statement yesterday I was thinking that, really, time to start lessening the load. Yes, each statement provides the FICO score which has not changed much this year but otherwise..

Curious about others' experience.


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Too many credit cards [View all] question everything Nov 2020 OP
Do you have any major purchases coming up any time soon where you need your credit Squinch Nov 2020 #1
I just refinanced and paid mine all off. Laffy Kat Nov 2020 #3
Thanks. We are considering a new car... have been since last April question everything Nov 2020 #5
In 1982, after a divorce I had a couple of payments left on my car. safeinOhio Nov 2020 #15
I have been telling people for many years that the only car PoindexterOglethorpe Nov 2020 #24
Yes, I would. Get the car and then start to pare down the cards. Squinch Nov 2020 #18
I was very happy to pay mine all off, and have been that way for almost 5 years at least or so. SWBTATTReg Nov 2020 #2
FICO scores on credit card statements? Shermann Nov 2020 #4
Only Discover. Current score on top page question everything Nov 2020 #6
I say ditch it, it's easy to get that score elsewhere nt Shermann Nov 2020 #8
Of course. This is not a reason to keep it, only if closing will lower FICO question everything Nov 2020 #14
A thin credit file can be an issue Shermann Nov 2020 #16
My VISA card statement shows mine. n/t lastlib Nov 2020 #20
I have 2 Visa credit cards, both from Chase. Neither has a credit score on the statement progree Nov 2020 #21
Finance related but not truly addressing your post, yesterday I was told that banks are in2herbs Nov 2020 #7
Local banks - U.S. Bank, TCF - have branches in many supermarkets with many visitors question everything Nov 2020 #11
Interesting Lulu KC Nov 2020 #22
Interesting tid bit, Wellstone ruled Nov 2020 #9
Capital One closed one of my cards lilymidnite Nov 2020 #10
As you get older Dan Nov 2020 #12
2 credit cards and a debit card. I NEVER carry a balance - if I have enuf $ for investments, and progree Nov 2020 #13
I have a Visa that is my only credit card. PoindexterOglethorpe Nov 2020 #17
I never use cash brokephibroke Nov 2020 #19
I use cash because for me it is the best way to manage my day to day spending. PoindexterOglethorpe Nov 2020 #25
You guys are all so wonderful! A HERETIC I AM Nov 2020 #23
I love Discover and use it for everything I can XanaDUer2 Nov 2020 #26
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