How Many Credit Cards Should I Have? (Explained)

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How Many Credit Cards Should I Have? (Explained)

Рет қаралды 87,474

Күн бұрын

In this video, I answer the question “How many credit cards should I have” because you don’t want to have too many credit cards. How many credit cards is too many is a very common question, so we’ll go over the answer. Click "Show More" to see Ad Disclosure.
I personally have 9 credit cards at the moment because each credit card is part of a patient and long-term strategy that I believe is best. If you are looking to increase credit score, maximize credit card rewards, and build better financial habits, then this video will be useful. While there is no true upper limit for how many credit cards should I have, each person will have a different answer. Some people may only need a few credit cards to get the most out of each. And if you aren’t using credit cards the right way, then 0 credit cards is probably best until you develop better habits.
But this video is designed to help you ask the right questions to decide for yourself how many credit cards is too many. I personally plan to get more and more cards over the years, but each credit card will have a strategy behind it.
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Пікірлер: 253

@isabelzumaya9684 2 жыл бұрын

I’m watching this to help my mom with her finances I’m 18 and sure does put things into perspective thanks man

@Daniel_Braun 2 жыл бұрын

Great to hear that! Glad you liked the video 👍

@kdog440 7 ай бұрын

I've done one Balance transfer at 0% for 18 months. Best thing to to get out of cards

@joseytjose 2 ай бұрын

sorry had to chime in.. that is so sweet, hope you and your mom are all good!

@TheCreditFrog 2 жыл бұрын

There's definitely a lot of factors that go into this decision, and they were very well explained in this video! I personally had only 3-4 cards for over a decade until my income grew to a point where it made sense to have more. Now I have 12 (8 personal, 4 business) with my sweet spot being around 15 or so. Great video Daniel!

@bagery 2 жыл бұрын

I have 6 credit cards and 2 store cards. I use to have as many as 16 once, chasing the highest credit score but it became hard to manage. I closed a few which was a mistake and some closed on me for non use. Still, there is a happy ending. I have 100k limit and 820 score, so I'm OK. Just gotta continue to always take care of business. This can be done even on a small wage. If you want more extravagance, you have to work for it.

@Toymonkeyjr 2 жыл бұрын

That's a very happy ending. Closing accounts and still have a 820, you're winning.

@bagery 2 жыл бұрын

@@Toymonkeyjr Haha, thx! It didn't happen exactly like that. It was in the 760s at that point. I had amassed around 15k of debt. I "ate rice and beans" for a year while I paid it all off. That's when I hit 822 ;)

@Toymonkeyjr 2 жыл бұрын

@@bagery Year in debt isn't bad. we've all done the same thing. But that's a big bounce back.

@bagery 2 жыл бұрын

@@Toymonkeyjr Much appreciated. Certainly helps to not feel like the only one out here. It's particularly rough when you're a low wage earner. Fingers crossed I can remedy that in the coming months. Wishing you financial peace as well :)

@techahve935 Жыл бұрын

Wow! How many years of credit history before amassing that utilization and credit score?

@sjg6158 2 жыл бұрын

I think for "average" people, one cash back card, one rewards card, and a catch-all card that one would use if there's no other uptick in benefits from the other cards should suffice. It's also important, if possible, to have a card with no foreign transaction fee.

@Daniel_Braun 2 жыл бұрын

Yeah I think that a very good basic strategy for the average person to cover a lot of things with 3 credit cards. And absolutely, a no foreign transaction fee card is a big deal. I'll need to make sure that I bring one with me when I hopefully go over to Europe later this year!

@CaliforniaAngels 2 жыл бұрын

@@Daniel_Braun which card do you think is best for traveling to foreign countries?

@guitarcomet5 2 жыл бұрын

That’s exactly what I have. A grocery store (Harris Teeter) rewards Mastercard, a Chase (cash back rewards Visa) and a bank (ATM) card. If you want specific store cards like J.C. Penny I guess that’s okay too.

@colin6711 7 ай бұрын

the last one, bank(atm) card, do you mean a regular debit card from a particular bank?@@guitarcomet5

@MikeMaye 2 жыл бұрын

I was surprised you said 9 I would have guessed 15-20 lol. Personally I have 8 credit cards and the way I rotate and use them works for me. Thanks for sharing Daniel and great vid as always 👊🏽💥

@Daniel_Braun 2 жыл бұрын

Haha yeah even I'm surprised that I only have 9 but I'll definitely be there in that 15-20 range soon enough! Great to hear it Mike, and thanks as always for watching!

@waltzawaydreaming1801 2 жыл бұрын

As a general rule, if you do international travel, it is my belief that you should have one of each of the 4 major CC companies at a minimum (MC, Visa, AMEX, Discover). This is because while in the U.S. Mastercard and Visa are usually interchangeable in terms of acceptance, I’ve been to countries where that is not the case and (usually smaller) merchants will accept one or the other. Of course, you also want to ensure no foreign transaction fees. I personally do not have a Discover card as it tends to be not as widely known outside of the U.S., but I THINK it is accepted where Diners Club or JCB is accepted . Also, keep in mind that if you are traveling to multiple countries and staying in hotels, it can take some time for “holds” to clear (I found this out the hard way after a trip to Peru, Argentina, and Chile…by the end of the trip , all of my available credit had been consumed my charges PLUS holds that had not cleared).

@granttcg 2 жыл бұрын

You make some great points man, I rushed into getting the capital one savor rewards card and quick silver during my credit rebuilding journey and got no sign up bonuses with either card when had I been patient could have got $400-$500. Definitely taking it slow now and Increasing my card count as my credit also increases. Your vid’s help a lot!

@Daniel_Braun 2 жыл бұрын

Thanks so much, love to hear that my videos are helpful for you! Yeah I think taking it slow is the way to go for so many reasons so I'm glad to hear that!

@APennyPinchersGuide 2 жыл бұрын

With most things "it depends". Absolutely agree with treating your card like cash! Finding the balance of financial optimization and the amount of work it takes to get the most out of every penny will definitely vary from person to person and is hard to give definitive guidance on. As always crushing the credit videos Daniel!

@Daniel_Braun 2 жыл бұрын

Absolutely, it always just depends and everyone is different! Appreciate the support as always 👍

@TheKsolo1212 2 жыл бұрын

Fantastic job breaking this down and making it easy to understand. Sometimes I think the subject may be common sense but as I watch and listen I learn a LOT. This is great content

@Daniel_Braun 2 жыл бұрын

Thanks so much Kevin! Yeah you're right there is a lot of common sense involved and I just try to break down some of the other behavioral and personal things that people should think about with credit cards too. Really glad to hear that you're enjoying the content, I appreciate the support 👍

@johnmckinstry6057 2 жыл бұрын

Having multiple cards is definitely a matter of personal choice. In the spring of 2020, I started taking steps to work on my credit so I could get some cards. Up until October 2020, I only had two credit cards that I have had for several years. Now I have six cards. Mainly, I’m getting cards to maximize cash back in various spending categories. By the end of this year, I plan to get a few more cards of which one or two may be hotel keeper cards.

@davemartinez4143 2 жыл бұрын

Treat your credit card like a debit card. No wiser words have ever been spoken. I currently have 11 cards. Since Banks pay very low interest I have been using my credit cards to make up for that. Also keep a low credit utilization mine is about 2 to 3%. I'm older there's no excuse for this younger generation to miss a payment. You have the internet I pay my bills every week plus check my balances. When I was your age our statements came in the mail and we used to have to write a check put it in an envelope put a stamp on it and send it out in plenty of time for it wouldn't be late. Credit cards are money makers. You gave some great advice I always learn something new thank you for taking the time to make this video.

@be14mi 2 жыл бұрын

I have what I consider to be the perfect setup for myself. I carry 3 cards in my wallet. 1 ATM debt card. 2. A very good Visa Infinite card 3. An American Express Charge card. I tell people that having all 3 types of cards in my wallet is like having a car a truck and a motorcycle in my driveway, all 3 are transportation but they each solve a different problem in different ways.

@MaGiikLeAvEs 2 жыл бұрын

I treat my 4 credit cards like cash that i have and pay each of them off weekly just to make sure its fully paid off at all times. But that’s just what works for me

@Thejakefenton 2 жыл бұрын

13 credit cards - totaling about $68k limit - 2% utilization. 25 years old and working my way to an 800 score in the next 24 months!

@docsays 2 жыл бұрын

Good stuff. I currently have 15 total: 9 personal credit cards 5 store cards 1 business card 20 will probably be max. I only want a couple more personal cards then a few more business cards and im done. In between those i might also add a couple of lines of credit. Then sit back and let everything age.

@Daniel_Braun 2 жыл бұрын

Thanks so much, and nice! Yeah 20 seems to be a good goal number for people like us that maximize value on credit cards. Sitting back while it all ages is a great move for the long term, love to hear it!

@MWade-ux4er 2 жыл бұрын

I’ve learned my income determines my credit card spending power. I currently try not to go over 25% of any credit card limit per month. Over time, as my access to more cash/income grows, I may consider increasing my CC spending power percentage because I know I could pay it back down. This practice helps me not dig myself in a hole that’s hard to get out of.

@KingOfXin Жыл бұрын

This is the best video I've watched. I subscribed because of it. Great info and better presentation. Great work 👏

@tomchilson 2 жыл бұрын

You are definitely right that this is subjective to each person. Some may like simple set-ups while others like to keep applying to new cards for maximum value.

@darealphantom 2 жыл бұрын

Great video as always, this is some great information for all of us definitely unique content in the credit card KZfaq space! For me I have 7 cards but I want like 4-5 more (Amex gold, platinum, platinum business & sapphire preferred)

@Daniel_Braun 2 жыл бұрын

Thanks so much man! And great to hear that's you're being self aware about how many credit cards you think is right for you. Appreciate the support as always here 👍

@capricebrown1390 2 жыл бұрын

Great video. I have 14 and over $100,000 credit limit

@lianalonge1984 2 жыл бұрын

Great video and discussion. 👏🏽👏🏽👏🏽‼️ I feel “to each their own.” 😌 For years I had only 2 credit cards. Now I have: ✅ 2 charge cards ✅ 4 personal credit cards ✅ 1 retail card To complete my array of cards, I have my eye on 3 specific additional personal credit cards and 1 business card. And I treat my cards like cash. I don’t spend what I don’t have. 0-1% CU, $0 balance on all cards, and 14% DTI.

@Daniel_Braun 2 жыл бұрын

Thanks Liana, I definitely agree with "to each their own"! That is the perfect way that you're doing it now that you've expanded beyond the 2 cards you originally had. For me the more cards I get, the more it is to manage - but as long as I'm tracking my spending anyway I know that I'll never miss something. Thanks for watching and commenting!

@JacobKustra 2 жыл бұрын

I'm a firm believer it truly depends on the individual but for me, the answer is as many as you can correctly manage and get the full use out of. I do agree though with your point of being patient. Such a crucial tip that many just ignore. Credit is a long term game, and if you want to maximize your score, and your relationships with these lenders, the best way to do it is by being patient.

@lauras.8088 Жыл бұрын

I have six. Five are my own, and I am an authorized user on my father's BJ Wholesale so I can get cheaper gas. I am unique because I applied for three of my cards because not only were they offering an incentive, but I did them as a mystery shopper so I got paid to apply. I put all of my mystery shopping on my cards, which works out very well for me.

@waltervila33 2 жыл бұрын

I have 8 I’m aiming for 10 this year slowly but surely is the name of the game

@taichiperfect 2 жыл бұрын

I have 5 credit cards and I NEVER paid interest before. I’ve been using them for 10 years now.

@Daniel_Braun 2 жыл бұрын

That's the way to do it! Same with me, never paid interest 👍

@edwinmartell8655 2 жыл бұрын

Great helpful video, thanks so much for your time and guidance. Keep up the good work 👍

@Daniel_Braun 2 жыл бұрын

Thanks so much Edwin, I really appreciate it!

@ivy2194 4 күн бұрын

Thank you! Very helpful insight

@darthmaul8941 2 жыл бұрын

Awesome video Daniel!! Would you recommend getting the Chase Trifecta before the AMEX Trifecta? With the 5/24 rule, I don’t want to miss out on getting the best Chase cards

@Daniel_Braun 2 жыл бұрын

Thanks so much Amir! Yeah personally I always suggest the Chase Trifecta over the Amex Trifecta for those that are interested in using these setups for travel. Like you said, its to maximize the value because of the 5/24 rule

@darthmaul8941 2 жыл бұрын

@@Daniel_Braun good to know! Is there a specific order you recommend getting each Chase card?

@Daniel_Braun 2 жыл бұрын

Any order works but generally I think either freedom card first is good to start. My order my the original freedom card (now discontinued) then the Sapphire Preferred, the the Freedom Unlimited, then the Freedom Flex

@SledgeIncTeam 2 жыл бұрын

Definitely depends on the person and their situation. I have 12 now after I closed my Cap 1 Quicksilver yesterday

@seand99x 2 жыл бұрын

I currently have 18 cards Amex Heavy. I have adopted the same approach as you where I believe slow and steady wins the race. I am going to be adding more cards over time the next cards I am going for are the chase trifecta, then the Hyatt card from chase. As soon as I am out from the 5/24 rule. Great video!

@anthonygardner400 2 жыл бұрын

Hey Daniel. Thanks for another good video. I like that you stressed how personal the decision is regarding how many cards is the “right” number. There are so many variables to consider, so you’re 100 percent correct. I have 16 right now, with plans to reduce that number by 2 this year. Unless there is some amazing welcome bonus offered, I’ll probably settle where I am. I’m finding that I have most major spend categories (dining, groceries, travel, etc) covered, and at some point, the benefits start to overlap and cards become redundant. Thanks for raising awareness about this topic. Take care.

@Daniel_Braun 2 жыл бұрын

Hey Anthony, thanks man! Yeah its definitely a very personal thing for what is the "right" number. Good to hear that's the number that you're at and thinking of staying around - I think 14-16 is a range that shows you've got experience and value from credit cards but its not too much that its too out of hand. Idk how some people have 30+ haha. Thanks as always for watching!

@anthonygardner400 2 жыл бұрын

@@Daniel_Braun Hey my friend. Yeah, 30 cards is a bit out of control. I don’t want cards to take up that much of my time or thought! 😊

@arey256 2 жыл бұрын

I believe the sweet spot for the average person would be 3-5 cc. I personally have four and that’s pretty good for me. I want one more the CSP to complete my chase trifecta.

@Daniel_Braun 2 жыл бұрын

Yeah that's a very good number for the average person to aim for! And nice, yeah that'll be good for you to add the CSP eventually 👍

@bryanjones7526 2 жыл бұрын

Naw zero

@saulmartinez6165 2 жыл бұрын

Another video with amazing insights! On a personal note, I just got the CFF! I also have the CFU so now I have to wait until October to apply for the CSR/CSP. Excited to build points for now. Btw do you know if the Chase Hyatt is part of the 5/24 rule? I might pick that up as well this year. TIA!

@jamesbaron3775 2 жыл бұрын

I applied for the CFF about a month ago and got approved for a $12k limit. Just applied yesterday for the CFU and got approved for a $13.8k limit. Staying in a hotel long term for right now with expected reimbursement down the road so I am just sitting enjoying racking up points. My wife is also a Hilton Honors member and we are staying in a Hilton hotel so we are getting those points as well. Can’t wait to have all these rewards to use later this year. Also plan on getting the CSP later this year.

@rj5795 2 жыл бұрын

Yes chase hyatt is part of 5/24. Only business cards do not apply to this rule.

@iTheRealAK 2 жыл бұрын

@@jamesbaron3775 I really wanna apply for CFF and CFU but I’m told it’s better to wait a few months to apply for a new card. I’m guessing your process was different? Did your credit get negatively affected a lot since you applied for two cards in as many months?

@jamesbaron3775 2 жыл бұрын

@@iTheRealAK So far it has only taken a few points hit. Chase had my score at a 774 when I applied for the first card and it dropped to 768 after getting the card. I imagine it will drop a few more points after getting the second card but I am not too worried about it as I have never missed a single payment. Getting two new cards does also lower my average account age which will adversely affect my score but again the two hard hits and the average account age are such minor things that correct themselves fairly quickly as long as I continue making payments on time and show a low credit card utilization, which is almost guaranteed since I opened two new cards in such a short time with over $25k limit between them. My circumstances called for getting new cards as I am active military that just changed locations and I am having to stay in a hotel for 60ish days and I have to pay for everything up front until I get reimbursed on the back end. I wanted to get cards that had a 0% APR so that I didn’t have to worry about paying interest immediately and I can pay the cards in full when I get back paid. Plus I get to collect all those reward points in addition to the Hilton Honors points my wife is getting from the hotel stay.

@codyhamilton7822 2 жыл бұрын

Super Freaking Awesome videos!!!! I answered no on both those questions!

@Daniel_Braun 2 жыл бұрын

Thanks so much Cody, appreciate the support!

@chrismorin1047 2 жыл бұрын

Great video, Daniel. 100% on board with your slow and steady recommendation. I have 4 cards now and plan to only add 1 (CFF) this year as this will complete my Chase trifecta. Maybe one more in the AMEX Gold card because I do spend quite a bit on groceries and dining, but I am happy to push that one off into next year. For me, I can see effectively using 7 - 8 cards focused primarily on Chase and AMEX. That is what I foresee now, though. The next couple of years will be very telling in how my SO and I are able to ramp up our traveling. If we layer in international travel, as is our intention, AMEX cards will definitely become more valuable.

@georgewilliam8501 Жыл бұрын

I went overboard on opening credit cards. I saw the big discounts on your first purchase, and accepted the new card. Now I think I've got too many. I only use a few of the cards I have, and the rest are zero balances. I want to close most of the cards I don't use, but I was told that would lower my credit score. I was really stupid, and opened a lot over a short period of time. Now my average age of my accounts decreased. I thought if I closed the new ones and kept my older ones, that would be ok. I don't know what to do, I'm never going to use all the new cards I opened. You don't even want to know how many cards I have, cause it's insane.

@amh424 2 жыл бұрын

I just got my 2nd card, the Chase Sapphire Preferred. Due to an upcoming international trip and a desire to travel more in the coming years, I figured it’s time to get a card that rewards travel and waives foreign transaction fees. I plan to still put a few transactions like utility bills on my other card, the US Bank Cash+, to take advantage of the 5% categories, which over the course of a year would earn me about $100 back...effectively canceling out the annual fee of the CSP. In the somewhat near future, I can see myself with up to 4 total CCs if I add the CFU and CFF which of course can boost the CSP. Beyond that, I don’t see myself having a capacity for any other CCs as my spending would be getting rather diluted between different rewards programs and such.

@arey256 2 жыл бұрын

I was thinking about getting the us bank cash+ to cover utilities. I don’t have a cc that gives me 5% on utilities

@gregpohlmeier 2 жыл бұрын

9 credit cards is a lot, but if you can sustain that financially and be responsible with them, more power to you. I personally have 3, and it’s the perfect amount.

@Dog_gone_it Жыл бұрын

Spread monthly spending. Gas, Netflix, groceries, medicine, dining out, activities, gym, internet, &/or large purchases. Use bank account to pay off each monthly. Having lower than 30% balance carryover per month is ok. More separate balances get reported show credit bureaus the responsibility and raise credit score. Little secret of the trade even youtubers won't tell ya. Shh don't tell no one😏 not financial advice. Do you own due diligence 😅

@malicestar13 Жыл бұрын

I have one credit card as I just exited education and decided to sign up for my first card. However, I have 11 years of history due to being on a credit card that I was using with my parents previously. My credit card balance is actually pretty decent and I am doing well managing and paying off that card in full every month. I do also plan to do a slow approach and am looking into gaining a travel card benefit next year, as I plan to travel more once I have saved up a decent nest egg. I am also looking into spreading out my income into HYSA accounts, so that's my first priority over applying for another card.

@ketogenicknowledge245 2 жыл бұрын

At the moment I've got 7 CCs within one year. They're all on monthly payments with no annual fee. I don't care about the rewards: I only do it to get the best mortgage rate possible on a house. Figured I'd go wide first (multiple cards) and then do consistent payments on all of them. My goal is 10, and then go for years paying 100% to boost my credit.

@ketogenicknowledge245 2 жыл бұрын

I only do $5-$10 on each one, to keep utilization very low.

@FinancialFreedomMadeSimple 2 жыл бұрын

Thanks for getting this into our attention, Daniel.

@Daniel_Braun 2 жыл бұрын

No problem! And thanks for watching as always!

@victorgomez693 2 жыл бұрын

great video , really surprised you have 9 i thought you would have 40 by now lol. I'm thinking about doing a trip in cancun or somewhere in puerto maybe during spring break, do you have recommendations on resorts. Also, what's a good honeymoon spot you'd recommend? you should def do a top 5 video

@PetersonBlanc 2 жыл бұрын

Great recent video. Seeing how travel is starting to ramp up, I was wondering if and when you'll look to do a video on the best travel cards to apply for? This could be comparing different creditors, and or the same within their umbrella of cards; for example, a likely comparison of the Chase Sapphire Preferred vs World of Hyatt Credit Card vs Chase Sapphire Reserve vs Venture X. I am curious to know which is a better current and long term card to have based on your expertise?

@Daniel_Braun 2 жыл бұрын

Thanks so much Peterson! Yeah I definitely want to make a video on the best travel cards, hotel cards, airline cards, etc very soon. And I plan on making some more comparison videos like that as well! Those are all great cards for many reasons so it all depends on the person but I'll make videos giving my thoughts for sure 👍

@PetersonBlanc 2 жыл бұрын

@@Daniel_Braun THANK U

@kristophe1667 2 жыл бұрын

Hey Daniel, great video & excellent advice especially for those getting n2 the CC game. I totally agree that the # of CC for a person depends on how well you're going to manage them. Personally, I'm well into the dbl digits but like you I have a particular purpose/use for each one...I think that is key 🔑 if you're getting n2 it for the points and/or cash back..

@Daniel_Braun 2 жыл бұрын

Thanks so much Kristophe! I completely agree, every card should have a purpose and its all going to depend on the person for how many they want

@mykh79 2 жыл бұрын

Great video Daniel. I appreciate your holistic approach.

@Daniel_Braun 2 жыл бұрын

Thanks so much, really glad to hear that! 👍

@getsugatenshoFTW 2 жыл бұрын

I have 14 credit cards! I think my upper limit is close to 20, but I could see it going higher as travel opens up.

@Daniel_Braun 2 жыл бұрын

Awesome! Yeah I'm probably going to be similar to you, I could see myself having between 20-30 in the future but it all depends on what i'm seeing. Travel will continue to be my focus over cash back!

@jjr929 Жыл бұрын

It was good to mention the drop in cred. Score went getting one and any future loans.

@azan-183 2 жыл бұрын

Great video! For most people, 3 cards are probably optimal. 2 is the minimum because everyone should have a backup. As a student, I use my 2% cards (usually Apple Card with Apple Pay) the most. I sometimes use my rotating 5% card (Discover) but not frequently. I sometimes use transit, so the Amex Green is great for that!

@futurecatastrophes9533 2 жыл бұрын

This is a great vid.

@Daniel_Braun 2 жыл бұрын

Thanks so much for watching!

@biglou36010 2 жыл бұрын

I got 7 and I think that's too many

@Daniel_Braun 2 жыл бұрын

Good to hear that you're being self aware and knowing yourself to decide that 7 may be too many! No reason to get any more cards if its too much because the value isn't worth it anymore. Thanks for watching!

@maxstyne 2 жыл бұрын

You can never have enough 😉

@Daniel_Braun 2 жыл бұрын

Haha no upper limit for me right now! I'm sure I'll eventually land somewhere around 20-30 cards in the future though

@curmudgeonextraordinaire1884 2 жыл бұрын

I have 3 cards now. I’ll probably add 1 more and that will be it.

@jloiben12 2 жыл бұрын

I think it really depends. As a minimum, I think one card with a good bonus for food (ie - Amex Gold), one with a good bonus for travel (ie - Chase Sapphire Pref), and one everyday card (ie - Capital One Venture Rewards). There are plenty of really good options that do this. There isn’t really any one good one. Beyond that, it depends on what you spend money on. Maybe a card with a good gas bonus category. Maybe you rent and should get Bilt. Maybe you fly on specific airlines or stay at specific hotels. There are a ton of ways to fill out your credit card lineup once you get a good base of food, travel, and everyday spend cards.

@TimChernikoffMusic Жыл бұрын

Credit card debt is like Tetris. You just have to jam your extra wages into those 0% card balances until it’s all gone.

@timelessrecords2363 2 жыл бұрын

I just got my 2nd

@giggleswithteshanaandbrihanna Жыл бұрын

I have 3 credit card Bank of America, discover it, and Capital One, One for emergencies one for my personal use and one for my business.

@anonymous6594 2 жыл бұрын

I had 1 credit card until 12/21 with a credit limit of $50k. Then I started watching all these KZfaq videos and collected 4 more cards! Now I have 5 ($126,500 credit limit)! I wished I had stayed at 1!

@jamericanrebel Жыл бұрын

I only have one with a 7.5k limit. I make 6 figures and have multiple homes. Never found that I need to spend more than 7k on my credit card in any given month. This smaller limit keeps me in check. I don’t have the limit to overindulge, and I’m not using my debit card 😅.

@TheStrawKnight 2 жыл бұрын

I have 7 credit cards and 1 more on the way. Two low rate cards, two simple cash back reward cards, and three reward cards with categories. I think I'll keep the max at 8 credit card accounts and make sure I keep my two oldest cards active.

@Daniel_Braun 2 жыл бұрын

Nice strategy! Good that you're aware of what works for you and not just getting too many that would be tough to handle. Thanks for watching and sharing your thoughts!

@callmeNeno 2 жыл бұрын

No more than 2 credit application per year and spread over 6 months period. So I stay under 5/24 and meet that minimum spend and let my credit age season.that’s my strategy

@Daniel_Braun 2 жыл бұрын

Great strategy! Those are all very important things to consider and just goes to show why the patient and slow approach is the best way to do it!

@sjg6158 2 жыл бұрын

You answered the question within the first 30 seconds of your video. This is another great video. Thanks Dan.

@Daniel_Braun 2 жыл бұрын

Thanks Scott! Yeah I tried to get some of the info out there right from the start haha

@jjerrell5722 2 жыл бұрын

I have Two cards from Capitol One a Walmart Rewards and a Platinum Card this is my first time ever dealing with credit cards I’m 30 now I’ll be 31 at the end of September I’m trying to wait it out at least a year to show them I can actually pay on time and in full my limit as of now is 300 on both so I’m hoping for the best 🤞🏾and I’ll continue to watch your videos 👍🏾

@qahtanalqaysi5116 2 жыл бұрын

As many as you can handle as simple as it sounds, I have 26 personal credit cards 💳 plus ton business credit cards 💳

@Daniel_Braun 2 жыл бұрын

Awesome numbers! But yeah its basically as many as you can handle which is why I like to recommend that many people take it slow to make sure that they are able to handle each new card

@jaustinnn Жыл бұрын

I have 4, going on 5. That’s my sweet spot. One month I use one of the credit cards as a debit!

@thesurlygamer6933 Жыл бұрын

For a long time I only had one card ($20K limit, 7.9% fixed) but the damn thing kept getting hacked, thanks BOA. I decided on getting an additional credit card with a lower limit that I use for all my online purchases and pay off every month and keep the big card for bigger offline purchases and big emergencies.

@lesliehibbard1676 7 ай бұрын

Currently have 9 “regular” credit cards (down from 10 last month), plus a store card and a CareCredit card from a recent surgery. Looking to add my first business card soon! I always pay on time and in full.

@jamesskahill98 2 жыл бұрын

I have 1 but looking into the chase freedom flex that I'm approved for in my chase app.

@Daniel_Braun 2 жыл бұрын

Nice! The Freedom Flex is one of my favorites out there right now!

@reinaldomartinez13 2 жыл бұрын

just signed up and instantly got approved for the chase freedom flex, i'm gonna get that chase trifecta and fly for free, thanks for the info bro

@da11king Жыл бұрын

This guy speaks fast, but he is very good 👍🏾 👏🏾 💯 Finally some cc perspective compared to Dave Remsey. Now, it's up to me to balance things out

@youngtimer7531 2 жыл бұрын

Strategic and slow has allowed me to stay under 5/24 and in total control of what cc to get and when to get it.

@Daniel_Braun 2 жыл бұрын

Yeah that's a big part of this approach as well! It makes it easier to be under 5/24 more frequently

@datnohi8612 6 ай бұрын

i have 13 and i manage them well just got an automatic credit increase on two of them😎

@Wood_Review 2 жыл бұрын

I have 4 personal and 1 business. I don’t see myself getting more than maybe 6 personal credit cards, it just like you said has to fit my needs.

@jamespoe24 2 жыл бұрын

That's exactly it. I have 9 myself and live where I control it not it controlling me

@gpagunsan1 2 жыл бұрын

2nd hehehe .Great video though =)

@Daniel_Braun 2 жыл бұрын

If only it was still TWOsday like it was yesterday on 2/22/22 haha, thanks so much for the early comment!

@sonictonic_ 2 жыл бұрын

Hey Daniel! :) Aw man, if only I could turn back time LOL. I always feel so guilty being one of those people who does like to spend, and I do carry some credit card debt even though I KNOW better, now at least. My biggest mistakes came years ago when I was REALLY stupid. At least now I have perfect payment history and I am TRYING to keep it under control, slowly building down my balances. I've got a few GREAT cards now (AmEx Gold, Chase Sapphire) but also have the crappy old ones I got when I was younger and stupid (cough cough.... CreditOne...), but am afraid to close them because they're my oldest accounts. :P Someday I feel like I will need to bite that bullet though. Anyways..... great video as always my dude.

@Daniel_Braun 2 жыл бұрын

Great to hear that you're very aware of your spending and credit card habits and at least working to get it all under control! Haha CreditOne is always one of the worst that many people hate, but those other cards you have are definitely way better now. But yeah sometimes with those older accounts, they can be good to keep open to help with age of credit - but if they are hard to manage or causing you to use them to carry a balance then you might be better off closing them anyway too. All depends on your credit score, goals, and other factors like that! But thanks so much as aways for watching man, I really appreciate it! 👍

@sonictonic_ 2 жыл бұрын

@@Daniel_Braun Thank you, Daniel! 😊

@Thats-Mr.Cat-to-you 2 жыл бұрын

Great video. I personally have 8 credit cards plus the Amex Gold & Platinum cards. I see myself getting 3 or 4 more cards, but I will close 2 of the ones I have now.

@dynasty4851 2 жыл бұрын

Great video man! I'm glad I've subscribed to this channel. I have 6 cards. My final goal is 10.

@Daniel_Braun 2 жыл бұрын

Thanks so much for that, I'm really to have you as a subscriber! And nice numbers, 10 is a solid amount but still very manageable 👍

@shaligasuksomsong 2 жыл бұрын

Great Video! I have 8 credit cards and I was wondering if it’s too much 😅.

@Daniel_Braun 2 жыл бұрын

Haha its all about whatever works for you! 8 might be a lot for some but not many for others. But I think that's a good number to be at

@salvadormacias1660 Жыл бұрын

I have 12 credit cards 🥴😵‍💫 (and I’m watching this video because I want to make sure I choose the perfect cards)

@Username85254 2 жыл бұрын

Great video as always. Personally, I only have 6 credit cards, although 4 of them have annual fees totaling almost $1k, Amex Gold, Platinum and Blue Cash Preferred. But the benefits and points back is just too good!

@Daniel_Braun 2 жыл бұрын

Thanks so much! And that's great! Yeah the annual fees can be tough but as long as you got them with positive net value in the end then they can be worth it - similar to my cards too

@ramonn.6816 2 жыл бұрын

Daniel just basically said "idgf" 🤣🤣🤣

@Daniel_Braun 2 жыл бұрын

😂 I'm just saying that everyone has their own situation - some people have 30+ cards and put in the work so its best for them. Then others have only 3 cards and are perfectly happy too. So I'm definitely happy myself with the 9 cards and counting that I have right now! Thanks for watching Ramón 👍

@hoots02 Жыл бұрын

I'm here cause I have 15 all in good standing

@michaelkim2147 10 ай бұрын

it's like asking the guys saying how many girlfriends should i have in life before i get married. It differs for everyone because there is no wrong answer

@adrianjaimes8929 2 жыл бұрын

Currently have 4 credit cards. Two with capital one and both freedom cards. Slowly making my way to increase my credit score and hopefully CSP increase their welcome bonus so I can apply and complete my Chase Trifecta! Currently on 60,000 UR point so I saving it for a big trip next year!

@looseycanon Жыл бұрын

Very nice video. I recently cancelled one of my credit cards and move my limit to the remaining one, because I did not have use for the other, older card, which I had since I was in college. Now, I roll a single MC gold Debit card, one MC standard debit card (for recurring online payments and tied to a special account for these, as majority of mine are wires) and single MC credit card with a set limit, which I know, I can clear in one pay cheque and I don't really need more cards. Sure, I could open up a MC world elite card with my bank, but 1) I don't travel that much and 2) I already have decent travel insurance on my MC gold debit, meaning that world elite card would be redundant as things stand. Now, if I were to start traveling for work, then, the higher insurance limit, credit limit and access to lounges would become interesting, but until then, there's no need.

@stevellereed 2 жыл бұрын

Could you please do a review on what would be the best starter amex card specifically the everyday preferred and blue cash preferred

@Daniel_Braun 2 жыл бұрын

Yeah I'd love to do a video going over some of their other cards like those 2!

@Katrina-Winter 2 жыл бұрын

I got my 1st credit card in 2019. Got 10 in 2021. Looking at 2-3 more in 2023

@robertboisvert2226 3 ай бұрын

9 cards no judgement brother

@mitsukislife Жыл бұрын

9 credit cards tells me that you have income lol *cries in graduate student*

@callmeNeno 2 жыл бұрын

You got me by 1. 8 credit cards here; need 4 more I really want and I am done.

@Daniel_Braun 2 жыл бұрын

Haha nice! Yeah thats a really good goal to have somewhere slightly above 10

@deveng7766 2 жыл бұрын

Good topic I ask my self everyday

@scarling9367 Жыл бұрын

Just got my Amex BCE for a gas card. Playing it slow and steady to see if I can manage that. I'll probably move to get a grocery card next year if it works out.

@yayebalay731 2 жыл бұрын

Ey, I have three credit cards right now 😎🤙🏾

@rickymendez2219 2 жыл бұрын

I’ve got 6 for now and I’ll add the 7th within the next couple of years (CSR)

@Daniel_Braun 2 жыл бұрын

Nice, love to hear it Ricky!

@chrisoverbey5937 11 ай бұрын

Thanks for this video. I’m seeing guys in a FB group saying they have 12, 17, 28 credit cards. And they don’t seem like their “playas, just flexing”, they seem like sober guys pursuing a math-driven strategy, so I want to learn more. Why are they doing it, how are they doing it, what are the benefits?

@simbanuba 2 жыл бұрын

I'm at 10. BTW, Puerto Rico was great. Lots of quick passing showers.

@Daniel_Braun 2 жыл бұрын

Nice, 10 is a solid number! And great to hear, that's what I've heard about PR with quick passing showers. I'm heading there within the next few weeks and can't wait!

@hashtagisaacweaver1999 2 жыл бұрын

Visa Self card, (credit builder) Amazon Store Card, (I buy things on Amazon, and 5% back is good) Apple Card, (I use this for iTunes purchases.) Delta Sky miles Card, (I want to go to Japan, and South Korea) Chase Prime Card (expands my Amazon cash back, and I’m looking to close the store card.) and the World of Hyatt Card (Want to stay at the Hyatt in Osaka) 6 credit cards at the moment, but it will decrease. I want my cards to work for me!

@coreyfuggins2945 2 жыл бұрын

Hey I have 9 credit cards also! I’m working now with hotel cards!

@c-note9685 2 жыл бұрын

3 credit cards

@Th33Vultur3 Жыл бұрын

I now have 11 credit cards with physical limits and have $24, 250 in personal cards and $4100 in business credit cards. One is a charge card, the Amex Green card which is no preset limit. I'm good for now. 12 personal and 1 business. I see nothing right now on my radar for at least a few months and possibly a year. I'm trying to get under 5/24 which should be at least in another year or two.