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-   -   Why you may want to have 2 credit cards (https://www.early-retirement.org/forums/f28/why-you-may-want-to-have-2-credit-cards-63802.html)

Nords 11-23-2012 06:36 PM

I canceled my father's credit cards a few weeks ago. His credit record was clean on his annual report, but I've never seen a FICO score.

Judging from the volume of credit offers he got in the mail, he had excellent credit. Now that his credit records are frozen, that flood has dried up.

Quote:

Originally Posted by Alan (Post 1250876)
I've had my CC details stolen 3 times and the biggest hassle is changing all the auto-payments.
So we have 3 cards, one of which is only used for the automated monthly or yearly payments. (phone, cable, electric, etc.).
I make sure I use the other backup card once a month to keep it active.

You jogged my memory. We have three cards, but one of them has a mediocre rewards program and I haven't been using it. I might as well use that for our utility bills.

I'm surprised that the utility companies aren't charging convenience fees for the privilege of using a credit card.

Alan 11-23-2012 07:28 PM

Quote:

Originally Posted by Nords (Post 1251163)
I'm surprised that the utility companies aren't charging convenience fees for the privilege of using a credit card.

So far so good. They must have plenty issues with delinquent payees so would rather pay the CC fees if customers agree to automatic payments.

Mulligan 11-23-2012 09:19 PM

Quote:

Originally Posted by Nords
I canceled my father's credit cards a few weeks ago. His credit record was clean on his annual report, but I've never seen a FICO score.

Judging from the volume of credit offers he got in the mail, he had excellent credit. Now that his credit records are frozen, that flood has dried up.

You jogged my memory. We have three cards, but one of them has a mediocre rewards program and I haven't been using it. I might as well use that for our utility bills.

I'm surprised that the utility companies aren't charging convenience fees for the privilege of using a credit card.

I was going to put my utility bills on my credit card this week to extract more cash back free money, but I found out in the fine print they were going to slap a 2% processing fee to pay that way.

check6 11-24-2012 07:20 PM

Quote:

Originally Posted by JustMeUC (Post 1250869)
I have at least a dozen plus airline and hotel cards that I rotate. Most I close after 11 months, wait a few months then reapply for a new bonus. In 2010 & 2011 I earned well over a million miles and points on sign up and transfer bonuses. I travel internationally at least 12 times a year and can't remember the last time I purchased an airline ticket and often don't pay for hotel rooms.

Could you elaborate a little more? Are those million miles with just one airline or spread amongst many?

JustMeUC 11-24-2012 08:00 PM

Quote:

Originally Posted by check6 (Post 1251513)
Could you elaborate a little more? Are those million miles with just one airline or spread amongst many?

I had about 400K on Delta but am down to less than 300. not 300K but 300. (about half these miles are butt in seat earned. I am platinum on Delta so also paid to fly them a lot too)

I had about 200K on Continental and United but they combined into United. I am down to 55K now.

I went through 5 AMEX cards and they were incredibly good to me with lots of bonuses and transfer bonuses which I turned into many of those Delta and BA miles when they had big bonuses. I still have almost 200K BA miles which I can use on AA.

I had about 300K AA miles, down to 160K

Hilton I think it was 60K nothing left

Hyatt 2 free nights anywhere plus points for initial spend. I used it to stay at an incredible resort which would have cost me almost $600 per night if I paid for the room.

170K Priority Club points, I am down to 15K. I stayed 3 weeks once at an InterContinental when they had a 5K per night special. I am a Plat Ambassador so get free breakfast, free light dinner and free drinks in the evening. I only had to buy lunch during those 3 weeks. The PC card $49 per year also gives you a free night anywhere in the world each year which could easily be valued at $500+ per night.

SPG 80K points - For me, SPG are the most valuable points out there so I use the SPG card as my main spend and replenish this one as I go

Almost ALL of these other than Delta are sign up bonuses and initial spends and some creative transfers when they were available. I am not including miles and points from the US Mint when that was going on. I do Amazon payments every month which adds a free R/T or 2 per year.

The credit card sign up bonuses are NOTHING like they were 2 years ago but still well worth doing. Keep on top of Milesbuzz on flyertalk to keep up to date on the latest and best offers.

I just gifted a weekend trip to my sister and her daughter from RDU-DFW-RDU and 2 nights at a Sheraton. Cost to me? 18K BA miles and $10 + 6K SPG points.

Helen 11-25-2012 06:46 AM

I asked the bank to cancel a lost ATM card and issue a new one. She canceled my credit card by mistake. I used my backup card until the new one arrived.

tinlizzy 11-25-2012 08:03 AM

JustMeUC - reminded me of the pudding guy story. snopes.com: Pudding Air Travel Redemption
https://en.wikipedia.org/wiki/David_P..._(entrepreneur)

JustMeUC 11-25-2012 11:56 AM

I met him at one of the Flyertalk seminars a while back. A million miles is small potatoes for lots of Flyertalk folks these days. As long as someone has good/excellent credit and a flexible schedule you can pretty much always travel for free and if you only take a few airline trips a year, in First Class if you care to do so.

mickeyd 11-25-2012 02:16 PM

We used to have many CCs but have lived with only 2 for about 20 years now. Our main card is Discover with USAA MasterCard as our backup.

My experience is simular to the OP in that I have received a call from DC on occasion when DW is out of town visiting relatives on the East coast and goes on a spending spree.

After I speak to DC security and explain that she will be out of town for a few more weeks, they note that fact and move on. It's comforting to know that they look out for us that way (also look after themselves).

Independent 11-25-2012 07:00 PM

We have one CC. My DW thinks that "credit" of any sort is suspect.

Everytime we travel a distance, I think I should get a second. I figure I'd keep it separate from the first card, so if the first is lost/stolen, I'll still be able to reserve and pay for hotel rooms.

Somehow, that never gets done.

MBAustin 11-26-2012 09:49 AM

We've had a primary and backup (both VISA) from two different banks for years. Just got an AMEX Blue Cash Preferred based on another thread here because of the great cashback at grocery stores and department stores. I will probably take the backup VISA out of my wallet now and just use it occasionally to keep it "alive" and keep the credit limit in our FICO score calculation.


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