# How Many Credit Cards Do You Use?



## Lon

While at one time I had credit cards coming out of my ears I am at the point in my life where I only need one credit card with a fairly high limit. I have this particular card because there are no Foreign Transaction Fees. The card has cash back features for certain purchases, no annual or monthly fees and I pay the amount due every month so no interest charges.


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## Josiah

I keep just two cards and resist all efforts by everybody and their brother to give me any more. I of course pay them off in full every month.


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## SeaBreeze

I keep 3 in my wallet, one American Express that I sometimes use at Costco, Discover and Quicksilver Visa...none have an annual fee.  I pay all payments in full, if I can't afford to do that, I figure I can't afford the purchase.  I mostly use checks for food shopping, etc.


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## Vivjen

I have one; and of course I pay it all off every month.


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## Falcon

One only.  Why more ?


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## SeaBreeze

There are some advantages to having more than one credit card.  http://www.neamb.com/finance/having-multiple-credit-cards.htm


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## RadishRose

One. Of course I don't always pay in full every month.... but when I do, I drink Dos Equis.


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## Jackie22

I have 4 or 5, most of the time I only use one for the points.


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## rkunsaw

I have two, one I carry with me and one I keep by the computer for online purchases. I pay them off every month.


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## Ameriscot

We have the Emirates Amex and Visa - the same card but we use Visa for the places that don't take Amex.  The entire amount comes out automatically by direct debit on its due date.  We got the Emirates cards as we get airmiles on them.  I also have a US debit card, and two UK ones.


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## AZ Jim

One, Paid off monthly.


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## QuickSilver

I have 3..  a Visa.... a department store card... and an American express.    Hubby has a Mastercard.  We keep no balances.


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## AZ Jim

QuickSilver said:


> I have 3..  a Visa.... a department store card... and an American express.    Hubby has a Mastercard.  We keep no balances.


Oh!  I was thinking  just "credit cards" but I have a couple of gas cards I also pay monthly.


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## NancyNGA

Two---Discover (for cashback) and a fairly new Mastercard for those places that don't take Discover. Paid off in full monthly, automatically deducted from checking because I forgot to pay twice. Yikes!!  Actually Discover was nice about it and didn't charge a penalty.

I still remember the days when it was hard to get a credit card, even if you had a full time job. Times have sure changed.


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## Lon

SeaBreeze said:


> There are some advantages to having more than one credit card.  http://www.neamb.com/finance/having-multiple-credit-cards.htm



I read the article but none of the advantages mentioned apply to me.


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## ronaldj

discover for points...visa for a little and a mastercard for not much of anything no balances....


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## Butterfly

I keep one by the computer for online stuff, and one I carry around.  I use my debit card for almost everything.  Oh, and I also have a gasoline card I use.


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## Falcon

Lon said:


> I read the article but none of the advantages mentioned apply to me.



  Same with me Lon.  My *ONE* card is automatically paid off from my checking account (If there's any charges on it).
  I use it only for large purchases (like appliances etc.); otherwise I pay cash for everything else.


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## Ken N Tx

AZ Jim said:


> One, Paid off monthly.



...Also use a bank debit card.


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## hollydolly

I have one credit card..which gets hardly ever used except for big purchases, _sometimes_.. but usually I pay cash...and I have 3 debit cards with different banks ..


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## Ameriscot

We use our credit card for everything, including groceries.  On our previous card it was because we got cash back, on our current card it's because we earn airmiles.


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## rkunsaw

I won't buy anything with my debit card. I  use it only at the bank to get cash.


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## QuickSilver

Never have or never will use a debit card


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## Ameriscot

QuickSilver said:


> Never have or never will use a debit card



How do you get cash?


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## DoItMyself

We have one credit card that we use for fuel purchases and a few online purchases.  Other than that we use cash, debit card or on occasion a check.


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## SeaBreeze

QuickSilver said:


> Never have or never will use a debit card



Same here QS, rather use a credit card, more secure.  I still use checks when it comes to using money in my bank account.


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## John C

I had only one for years.  Three years ago, it was compromised so I got another one just in case.  For me, two cards are best.


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## Bullie76

Two. One strictly for gas purchases as this one has a nice cash back deal on fuel. The other for all other purchases which has other incentives. Both paid off monthly.


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## Ameriscot

SeaBreeze said:


> Same here QS, rather use a credit card, more secure.  I still use checks when it comes to using money in my bank account.



Checks have nearly been totally phased out here.  And this will happen in the US as well.  Merchants don't even accept checks as far as I can tell. Many bank branches are closing as no one goes in much.


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## Papa

I use one for groceries and gas (get 6x rewards - American Express Everyday Cash Back) and I use the other for dining and travel (3x points - Chase Sapphire Preferred). The chase is cool because its made of metal and noticeably heavier than any other normal credit card. Closing thing to a black card I will ever own.


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## AZ Jim

rkunsaw said:


> I won't buy anything with my debit card. I  use it only at the bank to get cash.



Next trip to the bank how 'bout you get some of that cash for me?


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## Glinda

RadishRose said:


> One. Of course I don't always pay in full every month.... but when I do, I drink Dos Equis.



I pay mine off in full each month.  Thanks for pointing out that this is an excuse to drink Dos Equis!  :givemebeer:


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## Papa

I pay mine off in full every month as well. Just using credit cards as leverage for points.


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## Cole Slaw

I have about 8-9 of them. I dunno, i just like the early deals and then never use them again. I use 2 regularly and then a third when going overseas (just in case). I have no balance and pay off in full every month.


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## applecruncher

I have 2, use 1 most of the time....use the other occassionally to keep it active and maintain a decent FICO.

Just once I'd love to see someone say:
"I have 11, they are all maxed out, and I can barely pay minimum payment amount every month."  Scarey thing is there are people like that.


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## Warrigal

Hubby and I have separate but joint accounts. We each have a debit card for our account plus one each for the other's account to use in an emergency.
Can't see any reason to have more than one card in my wallet. It allows me to make purchases, take cash out at an ATM or shop register, shop online etc. 

No loyalty points attached and very small annual fee. I like to keep this part of my life very simple. I probably have zero credit rating by now but I have no intention of ever borrowing money again in this lifetime. These days if I don't have enough money then I'm not in the market.


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## Son_of_Perdition

Back in the 50's & 60' banks & others were encouraging consumers to spend.  The IRS gave you a tax break for the amount of interest you paid each year.  Even today the push is on to use the cards for everything from vacations to running a business.  As with tobacco advertisements, they should have put warnings on the back of the cards to spend wisely because overuse of credit was detrimental to your financial health.  

I was brought up with the idea that you can beat the game of credit and live large as the many you have heard about have done.  But for the 52% of the population who are in a credit vortex it is a shame that more time and energy wasn't spent on personal financial education.  You don't read too much about the average credit card debt ($8,000 plus) or the unemployed who are living hand to mouth using credit cards to live.  Credit card debt rose 4.3% in the fourth quarter of 2014.  Auto loans are skyrocketing, homes are once again selling like there's no tomorrow.  Doesn't anyone remember 2007 and on?  Unemployment is dropping, but they don't count the 93 million aged 16 or over who are not in the labor force.  The only age group who gained last year was the 55 and over.

I agree with applecruncher where are the ones using credit cards above and beyond their limits to impress the neighbors or just survive.  The Fed's interest rate is near 0% and there's actual talk of going below 0% to stimulate the economy, credit card interest rates are north of 25%.  You will then be able to make money by borrowing it, crazy!   

The rewards programs are great for some and a trap for others.  I avoid them because I'm an impulse buyer and will easily spend the extra 20% using credit cards entice us to spend.  Our total living budget is just over $12,000 annually for basic necessities (excluding rent).  So if I was to get 1.5% back for everything I would realize $180 a year back for just my necessities and spend an additional $2,400 for unnecessary purchases, doing the math shows it doesn't work for me. I use cash or debit cards exclusively for day to day expenses.  I don't have a 'credit' card, that's my frugal wife's responsibility, I'm the poster boy for credit card abuse.  My hero's were Charles Givens, Robert Allen and all the other OPM guru's, I blindly followed them to near financial disaster.


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## applecruncher

I recall watching an episode of Oprah several years ago with people who had huge credit card debt.  Susie Orman was trying to help.

One woman had $70k in cc debt.  Her husband made a good salary but they had a large mortgage, 2 new cars, and “lived the good life” ….and no savings.  What struck me was the woman said she had to go to Starbucks everyday, hair salon and mani-pedis and she seemed to feel she needed to do these things as ‘therapy’.  WHAT?!  She seemed to view a lot of her frivolous spending as a necessity even though they could barely make the minimum payments.

People like this make me wanna 






Furthermore, I remember telling a friend about that show and she had the nerve to say that Oprah should have paid off the woman’s bills.  HUH??!!  Seriously?


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## merlin

I have two, one for everything in the UK and it gets paid off in full every month, the other one I use when travelling as it gives me the inter-bank exchange rate (higher than the tourist rate) and no charges for using foreign ATMs, again paid off every month. I just counted another 18 in my drawer here, which I don't use but have had various offers on in the past.

I did back in the 90's (in a mid life crisis, one of many) once buy a property on credit cards for £38,000 on 0% interest offers, I then constantly moved them to another 0% card after the offer ended, and managed to pay them off after a few years. 

I did have a friend who amazingly ran up £97,000 on credit cards, and had to declare bankruptcy in the end. The average debt on loans and credit cards in the UK is about £9,000.


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## Charlie

Quite a few folks mention paying their balance(s) in full each month.  I've been paying my three cards (Discover, B of A Visa and Capital One Visa) in full each month for as long as I've had credit cards.  I always thought that because of this practice my credit score should have been better than it was.


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## applecruncher

> Quite a few folks mention paying their balance(s) in full each month.



Of course!  No one is going to post that their cards are maxed out and they barely scratch up the minimum payment each month.


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## Lethe200

We have 10 bank cards. One is used for almost everything because we like their points program. The others are used in varying degrees to keep the accounts active - for a while, banks were closing accounts that had no activity after two years. I put my NYTimes subscription on one card, for example, but my WSJournal subscription on a different one. My spouse's comfort level is having several charge cards to choose from, and since we don't pay fees on most of them, I'm fine with this.

And yes, we do pay them all off monthly. I do carry a balance once in a while for a couple of months, although not often. We have a lot of disposable income to play with. 

We are carrying a balance from last month because we're remodeling and the flooring bill went on the card. It will be paid off next month, however. Labor costs are killer here in California!


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## lb1818

One credit card - pay off monthly.   Wish I could say that's how it was in my younger years though!  I was on a credit card merry-go-round - paying minimum each month.  Once I realized that my minimum was less than the interest the light bulb finally went off  - finally got off that dizzy ride.
Lu


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## Bobw235

We use three.  Amex, for our Costco purchases.  A "rewards" Visa card that we use towards hotels and a relatively new Visa that we got when making a large purchase last year.  Financially it was worth it to open the account for the discount that we got, but now it is not used that much.  We pay them off in full each month.  The Amex is likely going away once Costco ends its relationship with the card.


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## Underock1

AZ Jim said:


> One, Paid off monthly.



Ditto.


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## Manatee

I had an Amex in the 70s, it had an annual fee and was required to be paid in full every month.

I _never _use a debit card, I don't need people rummaging around in my bank account.

Annual fees are throwing money away.


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## Son_of_Perdition

I have been an advocate of not using credit cards, one because I self-destruct when I carry one in my wallet and two I want to leave this life without owing a soul & leaving my wife with unnecessary financial burdens.  I pay cash for almost everything I buy the only exceptions are paying my bills online for the convenience & record keeping for my budget.  A few years back my credit union began a rewards program for our VISA debit card.  I get an occasional notice in the mail that shows my balance of points.  This morning I decided to see what I could possibly get by redeeming my 142 points.  NOTHING! nada, zelch. I think the paper it was printed on cost more than my points are worth.  I looked at a $25 gift card at Texas Roadhouse, one of my favorites, only needed 3,500 points.  At this rate I'll need to survive until I'm 560 years old to qualify, by then a steak will cost in the millions.


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## Lethe200

One needs to learn self-discipline in using credit cards, that's for sure. But rewards programs can be useful if you are going to use cards. Since we use one card for almost everything, points accumulate very quickly. Because we applied for our card through Barnes & Noble booksellers, B&N also gives us an additional 10% off purchase price, even on discounted or remainder/sale books, when we use our card there. 

Over the past several years we've gotten $4K in book gift cards from them. We go up to the counter with a dozen books and seldom have to pay any money at all, between the 10% discount and the gift cards. If I'm pressed for time the gift cards sometimes are actually given as gifts to friends/family, when I don't have time to go out and find a present!


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## Son_of_Perdition

Lethe200 said:


> One needs to learn self-discipline in using credit cards, that's for sure. But rewards programs can be useful if you are going to use cards. Since we use one card for almost everything, points accumulate very quickly. Because we applied for our card through Barnes & Noble booksellers, B&N also gives us an additional 10% off purchase price, even on discounted or remainder/sale books, when we use our card there.
> 
> Over the past several years we've gotten $4K in book gift cards from them. We go up to the counter with a dozen books and seldom have to pay any money at all, between the 10% discount and the gift cards. If I'm pressed for time the gift cards sometimes are actually given as gifts to friends/family, when I don't have time to go out and find a present!



I think everyone except myself seems to handle credit cards and the rewards programs beautifully.  I never hear anyone getting themselves into the fix I did several years ago.  According to credit.com, 56% of credit card users get into trouble.  If I had been guaranteed a 56% accuracy in my football bets back when I was playing the Sportsbooks in Vegas I would have retired a millionaire by now.  I guess the losers never want to boast of their failings.


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## Lethe200

Oh no, I can assure you we misused cards in our younger days! Of course, for much of that one could deduct credit card interest on the tax returns (remember that? Ah, the "old days", LOL). It took several decades before we managed to acquire the self-discipline to handle chargecards properly.

Now, why we can manage our credit easier than our weight....well, that's _our _weakness!


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## QuickSilver

I've got a whole bunch... and I use every single one... but pay off the balances monthly...  Every so often I make a large purchase and carry a balance for a few months.. This is how one maintains a credit score well over 800.


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## Son_of_Perdition

I guess I play the game different for different reasons.  I monitor my FICO/FAKO scores on Credit.com and CreditKarma.  C.c gives Experian, CK gives me Transunion & Equifax.  All three scores are above 725.  On C.c they give a grade rating system A-F in 5 areas plus what is called your Vantage score (mine 765).  These are arbitrary since there are over 45+ scores used by various agencies/businesses to rate you.  Depends on what someone wants to find out about you.  Below is a snapshot of C.c: 

1- Payment History  = A
2- Debt Usage         = B
3- Credit Age           = B
4- Account Mix        = A+
5- Inquiries              = A+  not one hard pull in 4 years, that was for a different cell phone provider in 2011. 

Both the 'free' sites instruct me to raise my scores I need more/some installment debt and a history of making payments on time to show a better credit/risk analysis.  What, get more debt/credit to enable me to get more debt/credit?  I was told by a retired banker/neighbor that based upon my reports I would qualify for any mortgage or auto loan they offered. The only other thing they would need to verify is my 'debt to income' other factors they use is your 'potential for debt', how much open credit do you have available (open credit accounts & limits) red flag if you have too many open accounts.  Another Catch-22, if you start closing accounts impacting your scores.

The only reason I do monitor them is not necessarily to check scores but use them as to alert possibility for identity theft.


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## tortiecat

I have two - my VISA and one for my favourite department store.
I pay them off well before due date and have never  had to pay
interest on them.


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## Pookie

Two. One for paying bills, one for a major emergency. I use a pre-paid card for ordering stuff online. I just put a load of money on it for Christmas presents.

Order tomorrow, wrap it, done by December 15th.


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## Warrigal

None. 
Hubby and I each have a debit card on the accounts that receive our pension payments.
Our pensions go into separate accounts but both are joint accounts and we each hold a debit card on both accounts as a failsafe when we are travelling


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## Son_of_Perdition

Here's my story,

I belong to 3 Credit Unions.

1.    Located out of state, I auto deposit my pension.  I have a VISA debit card.  Withdraw funds @ $500 daily limit from CU 2.
2.    Located locally, short drive.  I auto deposit my SS.  I have a VISA debit card.  Withdraw remaining funds at drive up.
3.    Located locally, shorter drive.  I make all my cash deposits into 2 MM accounts (emergency/long term).  NO debit CARD!

I keep no more than $50 in 1 & 2 to avoid OD's.  I pay all Utilities/Rent/etc from CU 2.  

If I want to purchase something online or locally I use the 24 hour rule & if I still want it I deposit enough to cover the purchase into CU 2 and use my debit card.  I remove my debit card number from Amazon and any others I've used.

I have opted out and require my CU's to deny any purchases that may OD my accounts.

I pay no fees, never had an OD, I place my debit cards in my fireproof safe when not in use.

I don't have any account on auto pay (Netflix and my auto insurance will accept either an annual or semi-annual payment and waive the processing fees).  I pay my property/auto taxes annually.  Neither will take a credit card.

I ask for cash or senior discounts everywhere I can and have walked when denied. 

I monitor all accounts daily for problems.

I don't fly, travel, stay at motels/hotels at this stage and only travel locally for entertainment.  I have a 2005 Mini that we bought new that has just under 24,000 miles on it.  My gas expenses never exceed $50 monthly.  I used to travel and have visited every state in the union except N Dakota some several times.  Our food costs usually never exceed $400 monthly and we do dine out once a week it is never more than $150 monthly after discounts.

I can't see that having a rewards card would benefit me other than giving me something else to monitor.

But the most important thing Jack Reacher never uses credit cards only cash!  Cash is untraceable and keeps you off advertisers mailing/target lists.


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## IKE

I have two Visa cards for some reason and a debit card that draws off of my checking account.


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## Sid N

Zero...now that I can do the same online with only a debit card. I use Priceline (debit card) for reservations that in the past, took a credit card.


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## Manatee

We were in route, moving from Arizona back to Florida. We were in Las Cruces NM when my wife got a call on her cell phone.  Her card had been hacked and there were several hundred $$ in bogus charges in addition to some that were legitimate.  The card was cancelled and a new one would be mailed to us, but first we needed to have a mailing address.  We were traveling with a travel trailer and did not want to linger along the way.  Fortunately I have a different card which we used until we got to Florida and rented a post office box and we could get our mail.  Sometimes it is better to have a second card.


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## FazeFour

RadishRose said:


> One. Of course I don't always pay in full every month.... but when I do, I drink Dos Equis.



:lofl: 
I only have one also, and it's only for Christmas shopping and auto repairs IF NEEDED. (Since I craft and sew, most gifts are home-made.) I calculate the card payments to pay the balance down quickly but painlessly.


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## Ken N Tx

Manatee said:


> We were in route, moving from Arizona back to Florida. We were in Las Cruces NM when my wife got a call on her cell phone.  Her card had been hacked and there were several hundred $$ in bogus charges in addition to some that were legitimate.  The card was cancelled and a new one would be mailed to us, but first we needed to have a mailing address.  We were traveling with a travel trailer and did not want to linger along the way.  Fortunately I have a different card which we used until we got to Florida and rented a post office box and we could get our mail.  Sometimes it is better to have a second card.



We carry a major CC and a bank Debit Card..


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## debodun

Never had one. If people won't take cash or my good check, I don't need what they're selling. I don't travel, so it hasn't been a big hassle - yet.


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## Shalimar

None, I am debt free.


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## Jackie22

I have three that I use regularly, one for 5 cents off gas, one for points, that is an American Express card and one to use where they don't take American Express.


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## Ameriscot

Shalimar said:


> None, I am debt free.



We are as well, but we pay off the cards in full when they are due.  Never a penny in interest.


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## Falcon

Only one; a Master Card used for more expensive purchases. The balance is paid off regularly from my bank checking account.

Otherwise I pay cash for everything.  No hassle when checking out. The cashiers always appreciate my greenbacks and coins.


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## ndynt

Have one I just use for unexpected emergencies.  Otherwise, if I do not have enough money for it, I do not need it. ;


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## Ruthanne

I only have a debit card, my credit is not very good.


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## Guitarist

None.  I got rid of the few I had 20 years ago.  I would like one for medical emergencies (teeth, etc.), but I'm afraid I'd be tempted to use it for beach trips, so, I really wouldn't like to have one.

When my dad was my age he had a walletful. One for each local department store, one for the half-dozen clothing stores that shared one; one for the local gas station and one backup for the one across the street from them, and Amex.  How times have changed!


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## tortiecat

I had credit cards for two large department stores for years, just cancelled them recently.
Now only have the one card plus my bank card.  Like many of you I have always paid
my cards on time, never had to pay interest.


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## Myquest55

We qualified for Navy Federal Credit Union when we were stationed overseas in the 1980s.  DH had a visa card from them with a second card for me.  A few years ago, I tried to apply for a Holiday Inn Express visa card so I could earn hotel points.  I was denied so when Navy Federal offered me one I took them up on it so I can build up some credit history too.  DH is the second signer on that card so we have two cards.  We only use them for gas, online, travel or mail order purchases.  Otherwise I use cash only and write checks to pay my bills!  I made sure the ATM card and Visa card are NOT debit cards.  That just complicates things too much for my bookkeeping skills.

I do, however, want to thank and BLESS whomever created Quicken.  I have my check book on Quicken, on my 1993 IBM Aptiva desk top - NOT connected to the internet - and I can balance my check book every month so easily!!  Brilliant!!


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