logo

Previous Thread
Next Thread
Print Thread
Page 1 of 2 1 2
Americans average 5 credit cards/is that too many? #396690 03/22/08 06:27 AM
Joined: Nov 2007
Posts: 534
Sharon - Wealth Editor Offline OP
Gecko
OP Offline
Gecko
Joined: Nov 2007
Posts: 534
I read that the average American carries 5 credit cards.

What do you think, is that too many, just right or not enough?

Is carrying just cash better than carrying plastic?


Sharon Michaels
�Empowering and mentoring women to greater personal and professional success.�

Abundance and Wealth Editor and
Self Development Editor

The Abundance and Wealth Site
The Most Recent Abundance and Wealth Featured Article

Sharon's Power To Succeed Blog

Re: Americans average 5 credit cards/is that too many? [Re: Sharon - Wealth Editor] #396694 03/22/08 06:47 AM
Joined: Jun 2005
Posts: 2,454
B
Bonniesa Offline
Koala
Offline
Koala
B
Joined: Jun 2005
Posts: 2,454
I have four major and one store, so that is five cards I have. I use my capital one rewards card, which is really a debit card hooked up to my bank, but used as a credit card to get rewards.

About two months ago I received $150 for doing a 1.5 hour online focus group with other capitol one rewards cards members to discuss future cards and incentives.


Bonnie Sayers - Autism Editor

AUTISM site
Re: Americans average 5 credit cards/is that too m [Re: Bonniesa] #396698 03/22/08 07:13 AM
Joined: Jan 2004
Posts: 22,776
Lisa LowCarb Offline
BellaOnline Editor
Highest Posting Power Known to Humanity
Offline
BellaOnline Editor
Highest Posting Power Known to Humanity
Joined: Jan 2004
Posts: 22,776
This is an interesting topic - I've read several books about this recently.

A full quarter of all US people have NO credit cards.

Another third do have credit cards but pay off the balance 100% in full every month (I'm in this group)

So only the remaining ones have *any* balance at all. So a group of them - with tons of cards - are the ones who make this "average" seem so high smile

That being said, I probably have 10, but most I never use. Store cards that have zero balance, no yearly fee, that I got at one point for a special deal.

Last edited by Lisa Low Carb Ed; 03/22/08 07:24 AM.

Lisa Shea, Low Carb and Video Games Editor
Low Carb Forum
Re: Americans average 5 credit cards/is that too m [Re: Lisa LowCarb] #396749 03/22/08 02:51 PM
Joined: Mar 2008
Posts: 100
D
doggiemom Offline
Jellyfish
Offline
Jellyfish
D
Joined: Mar 2008
Posts: 100
I over did it with the credit cards when I first graduated from college. It was like FREE money. I learned my lesson fast.

I have a couple cards I use for car rentals, etc. and a gasoline card that I pay off the balance each month.

I mostly use my debit card that I get points on purchases or I use cash. I've been using cash more lately.

I've had my credit card/debit card numbers stolen twice in three years. Luckily we discovered it quickly both times and there were no consequences. I now have one card I use just on the internet for purchases or renewals.

Knowing me - too many credit cards, too many temptations.




Re: Americans average 5 credit cards/is that too m [Re: doggiemom] #400500 03/30/08 02:41 AM
Joined: Nov 2007
Posts: 534
Sharon - Wealth Editor Offline OP
Gecko
OP Offline
Gecko
Joined: Nov 2007
Posts: 534
I find I use my debit card more than anything - I can get rewards back everytime I use it as a credit card.


Sharon Michaels
�Empowering and mentoring women to greater personal and professional success.�

Abundance and Wealth Editor and
Self Development Editor

The Abundance and Wealth Site
The Most Recent Abundance and Wealth Featured Article

Sharon's Power To Succeed Blog

Re: Americans average 5 credit cards/is that too m [Re: Sharon - Wealth Editor] #400504 03/30/08 02:53 AM
Joined: Oct 2007
Posts: 472
L
Llyn Offline
Gecko
Offline
Gecko
L
Joined: Oct 2007
Posts: 472
I have maybe a dozen credit cards. So does my DH who actually bought a house once by putting it on a credit card.
Doesn't really matter how many you have as long as you pay the balance in full every month.


Llyn - Spinning Editor
BellaOnline ALERT: Raw URLs are not allowed in these forums for security reasons. Please use UBB code. If you don't know how to do UBB code just post here for help - we will help out!
Re: Americans average 5 credit cards/is that too m [Re: Llyn] #400519 03/30/08 03:38 AM
Joined: Mar 2005
Posts: 324
-Diana- Offline
Shark
Offline
Shark
Joined: Mar 2005
Posts: 324
I think there are many advantages to having and using credit cards if you pay off the full balance every month as we do. But I think having too many is a nuisance. I used to have credit cards for various stores but decided I was spending too much time doing the paperwork for each. So now I just have two cards and that is sufficient.

Re: Americans average 5 credit cards/is that too m [Re: -Diana-] #400524 03/30/08 03:45 AM
Joined: Feb 2004
Posts: 6,398
M o e Offline
Tiger
Offline
Tiger
Joined: Feb 2004
Posts: 6,398
We used to have credit cards for everything. We now only cary one major credit each and I have one for Zellers which accumulates points.

Paying them off asap is the most important thing. These days we try to save up for an item in a special no charge savings account so we can pay off the card as soon as we get home from making a purchase.

It definitealy wasn't always this way. Practice makes perfect. smile

Re: Americans average 5 credit cards/is that too m [Re: M o e] #400535 03/30/08 04:19 AM
Joined: Jan 2004
Posts: 22,776
Lisa LowCarb Offline
BellaOnline Editor
Highest Posting Power Known to Humanity
Offline
BellaOnline Editor
Highest Posting Power Known to Humanity
Joined: Jan 2004
Posts: 22,776
I have all of mine auto pay so there's never any confusion. If I use them, it just pays in full at the end of the month. That way I can use whichever one gets me the most points or cash or whatever.


Lisa Shea, Low Carb and Video Games Editor
Low Carb Forum
Re: Americans average 5 credit cards/is that too m [Re: M o e] #400538 03/30/08 04:22 AM
Joined: Dec 2007
Posts: 329
B
bahrain Offline
Shark
Offline
Shark
B
Joined: Dec 2007
Posts: 329
The only card I use is my debit card. I learned a long long time ago to stay away from credit cards period. In reality, all they give you is a quick fix when you need it and then you have to pay the amount back plus interest and other fees, so to me, it's crazy and so not worth it.

I also prefer cash too. I'd rather make a purchase and take it home knowing that it's paid for and mine rather than wait for a bill in the mail.


Page 1 of 2 1 2

Moderated by  Brandi - Abundance 

Brand New Posts
You'd think I'd have plenty of time to write ...
by Monika R Canada - 04/07/20 10:43 PM
CoronaVirus Check In
by Monika R Canada - 04/07/20 10:33 PM
JImmy Beans Wool
by Korie - Folklore//Knitting/Yoga Editor - 04/07/20 09:42 PM
Sutra
by Korie - Folklore//Knitting/Yoga Editor - 04/07/20 08:55 PM
2020: On this day . . .
by Mona - Astronomy - 04/07/20 10:33 AM
Breathe Fire! Revisiting the Fort McMurray Fire
by Monika R Canada - 04/06/20 04:07 PM
Succulent Garden
by Angie - 04/04/20 02:20 PM
What Is a Nebula
by Mona - Astronomy - 04/04/20 12:12 PM
Stream HBO For Free Starting April 3rd
by Angela - Drama Movies - 04/03/20 10:57 PM
Astronomy April Fools
by Angie - 04/03/20 07:16 PM
Privacy
This forum uses cookies to ensure smooth navigation from page to page of a thread. If you choose to register and provide your email, that email is solely used to get your password to you and updates on any topics you choose to watch. Nothing else. Ask with any questions!
Channel List
Beauty & Self
Books & Music
Career
Computers
Education
Family
Food & Wine
Health & Fitness
Hobbies & Crafts
Home & Garden
Money
News & Politics
Relationships
Religion & Spirituality
Sports
Travel & Culture
TV & Movies
Safety
We take forum safety very seriously here at BellaOnline. Please be sure to read through our Forum Guidelines. Let us know if you have any questions or comments!
Sponsor


| About BellaOnline | Privacy Policy | Advertising | Become an Editor |
Website copyright © 2020 Minerva WebWorks LLC. All rights reserved.


Powered by UBB.threads™ PHP Forum Software 7.7.3