Credit Cards

[Merged] How many credit cards do you have?

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  • Apr 4th, 2019 8:19 pm
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Poll: How many credit cards do you have?

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[OP]
Deal Addict
User avatar
Jul 13, 2014
3651 posts
1094 upvotes
Parry Sound

[Merged] How many credit cards do you have?

Why? Do you regularly use them all?

I have a couple of cards that get used once every 6 months just so they don't get deactivated. I'm thinking I should just cancel them.
Last edited by titaniumtux on Feb 15th, 2018 5:06 am, edited 1 time in total.
This message has been approved by the Office of the Mayor of Toronto.
330 replies
Deal Addict
Dec 16, 2005
4523 posts
2248 upvotes
Leave them if they are old cards.

I keep 1 card that is my oldest. It is pretty crappy card but was one of my first from 1997. I asked them to reduce the limit to $500. I keep it in a drawer but have it on Android pay. Use it once a year.

Besides that my main card is the capital one aspire travel which gives me 2%. $20 annual fee.

I have chase Marriott and Amazon. Marriott was intended to churn and Amazon I kept for no forex. These 2 will be replaced with hometrust and/or brim for no forex. These are in a drawer until I travel.

I have BMO world elite card for the free lounge passes and have it on Android pay and use it for eating places and travel (2.14% return). Keep this in a drawer

Last I have westjet card. Use it for the companion voucher and 3c off gas. Keep this in my wallet. $119 annual fee.
Sr. Member
User avatar
May 7, 2017
654 posts
279 upvotes
Amex simply cash wherever accepted - 1.25 Cashback
Hsbc Premier card for places that don’t take Amex - 1.5% rewards

TD Cashback Visa Infinite - in the drawer.


Thinking about getting rid of TD. The only useful feature on it for me is auto club.
Will also replace Amex simply cash with cobalt or Spg card. Can’t decide which I should apply for the moment!
Deal Fanatic
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Aug 24, 2016
5535 posts
4643 upvotes
Here on earth
Main card is Scotia Amex Gold.
Backup for places that don't take Amex, and of course Westjet flights, is WestJet World Elite.
Fido MC for foreign transactions.
Tim's Visa only for the freebies.
CT Options World only for interest free payment plans and bill payments when PayTM is no more
MBNA PP 0%
MBNA Rewards
A couple low interest cards for emergency.
Last but not least, I usually have at least a couple cards kicking around that were taken just for the sign up bonuses, and will be cancelled after 6 months.
Deal Fanatic
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Jan 9, 2011
5635 posts
5604 upvotes
Vancouver
List of mine:

  • MBNA Rewards World Elite, 2% on everything, my main card
  • Scotiabank Momentum Visa Infinite, 4% at grocery stores and gas stations. Had for a few years, in a drawer right now, will likely cancel before AF posts in April
  • Scotiabank Amex Gold, got it for the $375 welcome bonus, was going to churn, but might keep it
  • CapitalOne Costco MC, use it only as a Costco membership card, and to pay at restaurants that don't take Amex
  • Amex Simply Cash, my oldest card, use it for Amex's superior rental car CDW. In a drawer.
  • Chase Marriott Visa, got this for 0% forex and the welcome bonus. Was going to churn but Chase is cancelling all of these in a month. In a drawer.
  • Fido MC, got it to replace the Chase Marriott. Haven't used it yet

I'm also on an ongoing battle with Meridian Credit Union, trying to get their Infinite Cash Back Visa to replace both my Scotia cards. If I can't get the Meridian card I'll keep the Scotia Amex and get the PCF WE to replace the Scotia Infinite. Too bad Loblaws doesn't take Amex.
Member
Jan 5, 2018
207 posts
103 upvotes
coolintheshade wrote:
Feb 15th, 2018 8:12 am
Main card is Scotia Amex Gold.
Backup for places that don't take Amex, and of course Westjet flights, is WestJet World Elite.
Fido MC for foreign transactions.
Tim's Visa only for the freebies.
CT Options World only for interest free payment plans and bill payments when PayTM is no more
MBNA PP 0%
MBNA Rewards
A couple low interest cards for emergency.
Last but not least, I usually have at least a couple cards kicking around that were taken just for the sign up bonuses, and will be cancelled after 6 months.
You keep Scotia Amex Gold and WestJet WE long term? Or just one year free?
Member
Oct 26, 2016
271 posts
157 upvotes
My keepers are:

- MBNA SmartCash and Capital One Cashback World, both freebies and my oldest cards so I keep them around
-Rogers Platinum and PCWE as my go-to spending cards when I'm not working on a minimum spend requirement, each a couple years old now
-TD Visa Infinite, I have the AI Banking so it's free. I keep it around to routinely change to a new product every few months, makes for easy churning

Beyond that I have 4 that are currently in their churn cycles to cancel over the next number of months. At any given time I usually have 4-5 on my wallet (one for gas, one for groceries, my active churner (or AMEX SPG if I don't have an active churner) and then my preferred everyday non-AMEX card for people who don't take AMEX).

If you have old cards sitting around that have no annual fees, I would keep them to keep your age of accounts alive, it can only help. If you end up applying for a bunch of other stuff that get high credit limits, you might reduce the old ones just so your sum total of credit isn't too high, but keeping the card alive is worth it.
Last edited by MHC111688 on Feb 15th, 2018 10:10 am, edited 1 time in total.
Deal Addict
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Apr 21, 2009
2932 posts
813 upvotes
Hamilton
I have 3 cards, but carry 2 of them and really only use 1:

TD Visa Cashback Infinite (3% cash back on groceries and recurring bills, usually use it once a week for groceries)
MBNA RWE Mastercard (2% cash back on everything, this card is used the most)
Amazon.ca Visa (1% cash back & basically just used for foreign transactions. Gotta replace it soon!)

Fortunately these are all fee-free for me.
Deal Addict
Mar 11, 2007
3611 posts
989 upvotes
QC
  • PC WE: Joint spent at grocery/gas/drugstore
  • MBNA RWE: for all other joint spending (might replace this one for my CapitalOne)
  • Tangerine MC: For personal restaurant/monthly
  • CapitalOne SmartCash 1.50 (grandfathered): for other personal spend
  • A bunch of Amex card for churning (pers gold/biz plat, scotia gold amex)
  • A bunch of MC card for churning (best western, alaska air)
Deal Addict
User avatar
Sep 7, 2004
4336 posts
949 upvotes
GTEH!
My cards:
MBNA RWE (grandfathered, no AF)(daily card)
MBNA Smartcash Visa Infinite (1 of my older cards), kept in drawer.
CIBC Dividend Visa (oldest card, keep in drawer)
CAP1 Aspire Cash World (for travel bookings)
Tangerine MC (gas & groceries - No Frills/Loblaws)
Chase Amazon Visa (for travel and 0% F/X fee purchases)(soon to be closed by Chase)
Scotia Momemtum Visa Infinite (offered AF waived for 2 YRS)
RBC Rewards+ Visa (Petro canada purchases only for the 3 cents/L discount)
😎
Deal Fanatic
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Aug 24, 2016
5535 posts
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Here on earth
fred125 wrote:
Feb 15th, 2018 9:59 am
You keep Scotia Amex Gold and WestJet WE long term? Or just one year free?
Long term. Buying transit passes with Scotia Amex at 7-11 for 4% return, and prepaid MC at 7-11 for 2.5% effective return, along with 4% dining and entertainment works well for me.
I attend many concerts, sports and events every year.
The companion fare and free luggage with WJWE is used every year, and that alone makes it a keeper.
Also the fact that I don’t even qualify for the card income wise.
It was a preapproval, and no income was asked or proof of income, all I had to do was accept it.
Deal Expert
User avatar
Nov 15, 2004
17587 posts
2874 upvotes
Toronto
Keepers:
Amex Simplycash: I carry this with me and use it for big ticket items and non-food purchases wherever I can. I like the cash back, the insurance, and how customer focused Amex is.

Tangerine Mastercard: This is my most frequently used card. I have all my recurring bills set up through it, use it for my groceries, and when I eat out so I can get that 2% cash back.

So-so:
TD Cash Back Visa: A TD Visa was my first ever credit card and this latest version is my oldest card. I carry it with my but almost never use it. My home insurance (through TD) is the only thing that it's really used for.

HBC Mastercard: Used to get free shipping and 15% off when I buy things from The Bay and other HBC stores. Sits in a drawer since I make all of my purchases at those stores online.

Amazon.ca Visa: Used when I travel for the currency exchange. Otherwise it sits in a drawer. This one is shutting down in a month so I'll have to find a new travel card.
Could HAVE, not could OF. What does 'could of' even mean?
Deal Addict
Nov 8, 2017
1092 posts
532 upvotes
Four
2 visas
2 mastercards
Mastercards are low interest 11.9% and 9.99 respectively. BMO I've had for almost 20 years, @34500 limit and CWB I got last October 7' limit

RBC Gold @ 7k I've had for almost 20 years . Keep that one cause of age, and have got constant low interest offers. I've used it in the past, as I can use the offers by depositing into my chequeing account when needed.

One I use mostly is CIBC no fee dividend card, get 2% back on groceries. Used to be Select Visa @ 13.99%, but I changed over to dividend because I got my shit together and don't carry a balance anymore. Lowered the limit from 18k down to 10. Have had that one for almost 20 years as well.
Sr. Member
Feb 1, 2018
854 posts
888 upvotes
Montréal
I'm up to 4 now:
  • TD Visa Travel Infinite - this is my daily driver card, highest credit limit, and my longest-standing account (20+ years). With Book Any Way, I get an effective cash back rate of 1.2% -- not as good as some, and not as good as the 1.5% I used to get before they devalued it. But the insurance alone makes it worth using for most travel and other types of purchases. I also get the annual fee waived because I bank with TD.
  • CapitalOne World Elite Cash (grandfathered) - I use this for business expenses only, keeping a strict separation between them and personal expenses, which is useful for record-keeping purposes. This card gives me great insurance and 1.5% cash back on everything, so I hope they won't get rid of it.
  • Fido MasterCard - just picked this up to replace my Amazon.ca Chase Visa which is being cancelled in March. This will be my card for cross-border shopping and purchases in foreign currency. I'm not thrilled with it but -- the hit I take on returned items, as well as the pain in the butt process to redeem my rewards since I'm not a Rogers customer -- make this card less than optimal. But, as I'm in Quebec and ineligible for HT, it's really the only card available to me to mitigate FX fees. (The Brim card looks interesting on paper, but I'm waiting to see how real their promises are. If it turns out to be legit, I may replace Fido with it. But I'm skeptical.)
  • Amex SimplyCash - rarely used, mostly sits in a drawer. I was able to take advantage of the welcome 5% rate on certain categories for the first 6 months. But so many merchants don't take Amex that it's really a backup card at best. I mostly keep this around for certain perks, like Front of the Line for concert tickets. I also sometimes use it for online purchases in CAD, since, unlike the Fido or Amazon cards, this one has purchase and warranty protection.
I think that's more than enough for me. I'm not into the churn game, and I like to keep things relatively simple to manage.
Deal Addict
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Apr 24, 2017
4416 posts
2745 upvotes
4 cards in my wallet:

- Amex Cobalt: 5X MR on groceries and dining. Transfer to SPG, and I get approximately 10% back (I value SPG points for 4 cents each).

- Amex SPG: 1 SPG point for every $ spent. Approximately 4% back on everything. I use it for everything except for groceries and dining.

- Rogers MC: 1.75% back for purchases in CAD, 1.5% back for foreign purchases. I use it for places don’t take Amex in Canada and when I travel outside the country. It will soon be replaced by Brim WE for 2% back on everything globally, no foreign transaction fee.

- Home Trust Preferred VISA: 1% back on everything. It’s for US Costco and foreign backup card purposes.
💳 Amex Cobalt - Amex Platinum - Scotia Momentum Visa Infinite - Rogers WE

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