EKUHLENS, I don’t know what card you are using for Amazon, but they have an Amazon store card that is only for Amazon purchases and you get 5% off your purchases that can be used as soon as they post or you can save them up for a big purchase. Five percent is pretty good since it is off of Amazon’s usually low prices, but I would still check the prices because sometimes you’re better off purchasing elsewhere.
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We’re pretty simple folk. We have two. My husband, a total bookworm, has one he uses for work related expenses that gives him Amazon rewards. Which he spends on books. 
Of course. Then one for the household with cash back on all purchases. Both carry no balances. When the kids were younger, the household card put cash back into a college fund. A little here and there helped out. Once they graduated, we switched to a regular cash back.
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We have 3 total. We each have our own cards that pays points that never expire. We both use the same Amazon Visa for Amazon purchases only. The points build up for Christmas purchases. All are paid off completely twice a month.
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1 debit card, and 1 credit card with no unpaid balances.
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I have 5, two are store cards Best Buy and Macy’s. I opened all of them for the savings insert the irony. I am paying them all off now. The only one I want to keep is with my credit union and Macy’s.
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DMVTUTORESS, “insert the irony” LOL
We’ve all been there. Admitting your mistakes is the first step to recovery. It applies to all of our mistakes in life.
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dboothe posted:
MINTJULEP, I also have a Target card also that gives me 5% off my purchase. But when they asked if I wanted their credit card to get the discount, I told them no. Then, they told me I could make it a debit card from my checking account, so that’s how I do it.
Thank you dboothe, I did not realize you could make Target a debit card! I’m going to think about that!
DMVTutoress posted:
I opened all of them for the savings insert the irony.
insert the irony made me chuckle too, because I think we’ve all been there!!
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First of all, the types of cards you have should reflect your spending needs. One card should offer cash-back, another card should offer flexible rewards, another card should (if you travel frequently) airline rewards, and if you travel a card that guarantees travel insurance. If you aren’t a frequent traveler, you make only need one of the last two as a card to have. You also need to know what types are accepted wherever you shop, as not every type is accepted (Discover and AMEX). Plus you need to keep accounts active, as some store cards will close your account if inactive. That closing does affect your credit and getting another card does hit your credit usage when they pull a credit inquiry to open/re-open the account, which you want to limit.
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Arica posted:
I have 4 major cards, I’ve never seen the point of store cards…
Target gives you a 5% discount on everything you purchase, so 5% off groceries, clothes, gifts, etc. Immediate, not issued as rewards.
Best Buy, also 5% in rewards. I bought my daughter a new laptop and got $45.00 in rewards, which I used to buy an Instant Pot for $15. 
Amazon also offers 5% in rewards, which I apply towards my bill each month.
Store cards do have some decent benefits that most of the regular credit cards don’t offer.
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I have probably 10-12, but I only use two because of their generous rewards. The rest stay in a drawer. You need to be careful about closing a lot of accounts, especially at once. While it doesn’t make much sense, if you close credit cards, it will hurt your credit score because all of a sudden, you don’t have access to potential $$/debt. As long as you ALWAYS pay off the balance on time in full every month, using credit cards with good rewards is like getting free money. I rarely use cash; all those pennies in rewards added up to a couple thousand dollar last year.
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I have 2, a Mastercard and a Discover. The Mastercard gives me points for every dollar spent. The points are towards Bed Bath and Beyond purchases. With each statement I am sent a certificate to use at Bed, Bath Beyond. It is so much fun to go into the store and depending on how many certificates I have, I might not have to layout any money for a purchase. Then my discover gives cash back, which if I have a balance, I have applied to the balance, in case no balance, then I let the amount grow and sometimes I have it sent to me in a check. It’s sort of like found money.
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mintjulep posted:
MattMakesMoney posted:
I never carry a balance. I use them for the sign up bonuses.
Faves:
-amex blue cash preferred
-alliant credit union visa
Wow, MattMakesMoney! Are you constantly needing to transfer balances to get those sign up bonuses? There must be an art and system to your plan!
Would you mind sharing why you like your faves?
I have never transferred a balance. I pay all of my bills but my mortgage with a credit card. I also have two kids in daycare, so it is pretty easy to get the sign up bonuses. Lately I have been trying to obtain 6 to 10 cards a year. I see it as free money.
The amex gives you 6% back on groceries and streaming subscriptions, 3% on gas and 1% on everything else.
Alliant gives you 2.5% back on all purchases. It used to be 3%. I use this one for everything but groceries, streaming and gas.
And before everyone complains that they both have annual fees, I have done the math. For my situation, I get more cash back even when you subtract the fees in comparison to other cards.
If you are not one for fees, I would recommend the paypal mastercard or citi double cash, as they offer 2% back with no annual fees.
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Thanks @mattmakesmoney I think it’s time to look at some of your suggested cards for us!
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Wow and thank you to those sharing the perks they get from various cards! One of my cards I’ve had forever and offers NOTHING so I only use it once a year to keep that card active…not sure it’s worth it after seeing what we are missing. We pay the balances off every month.
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I have 0. Closed my 2 credit cards last year and now solely use a debit card. It is just as safe (I checked the VISA protection information). I prefer to use cash when possible, but online orders take debit so that works out great for me. Keeps me more accountable as to how I’m spending my money vs. taking out a “loan” putting items on a credit card and then have to pay it back.
Dear Anne, you must be checking your account that the debit card is attached to on a daily basis to feel that confident. Speaking as one who thought as you did, until my Debit card number was used to make a transaction I didn’t make from a site that I didn’t use. I had to have my bank account closed along with replacing the debit card. And had to wait without access to any funds for a three business day period ( I did get some money to hold me but I had to do this at the bank in person after calling the number on back of the card). Perhaps you weren’t effected by the last bunch of hackers between Yahoo and Equifax, etc in the last few years and you have an excellent credit monitoring service that checks for your identity in the Web.
I don’t use my debit card for purchases in any area that has been hacked or scammed. They can get your information from the scanner that you pay with if you aren’t careful. Just be careful.
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Hi Maria Rose,
That sounds like the voice of reason and experience from you! We check our cc transactions at least weekly and have caught some unauthorized charges and can get on them quick. Our debit card is rarely used, maybe for a cash withdrawal at a bank associated with our credit union, but that is about it.
I have 3 in my name only and 1 joint with my husband. Two of the 4 were opened as balance transfers with no new charges being added and 1 has a zero balance.
I have lost count how many I have, but honestly have that amount to not only boost my credit score with a low utilization, currently 9%, but to earn money from the credit card companies. I earn anywhere from $600 -$1,000 annually from sign on bonuses and cash back rewards. I rotate between which cards I used based on their 5% cash back categories. For instance, I will use the credit card that earns me 5% back on groceries for that quarter. It may not seem like much but when you spend $1,000/mo on groceries, that is $50 back. I am close to having my credit cards paid off. Right now, I am still in 0% introductory period so I am carrying those balances only because I prefer to keep my money in savings right now with the current national emergency. It is not affecting my credit score right now, which is just below 800 and I am not paying the credit cards each month. They are paying me!
