So I have a secret shame. One which I hadn't even realized until yesterday. I am an avid credit card user and have been very responsible about using it like a checking account. No late fees, no overcharges, no interest. All bills are paid in full.
But the secret shame? Well guess how many credit cards I have? I decided to count yesterday, drumroll please. We have at least 14 cards between the two of us that I know about. Ouch.
My secret shame is I haven't cancelled a credit card in years. I don't exactly know why not either. We've got 4 store credit cards (BB, HD, Gap, Jordan's), none are in use, but I do get coupons for having them.
For the other 11 cards, well DH and I each have a individual american express, discover, and visa, probably because we were trying to build his credit so he got his own cards years ago when we first meet. That's 6 cards, and the other 4 are joint cards. We definitely use 2 mastercards, one exclusively and the other as a backup if we max out our rewards for the year.
I think that's the problem. We couldn't settle on a backup card for our usage. I am considering getting a Citibank CashReturns Card which gievs 5% back for 3 months. Because I am charging DH's tuition to the tune of $15k. Hence 5% back is $750.
But until I sit and discuss with DH what we should keep or cancel, I guess I have to live with the secret shame. Also I will probably need to pull our credit reports to check everything out. So how many credit cards do you have?