Credit Cards

Mastering the credit card game: How I juggle 11 cards and come out on top

By
TJ Porter,
edited by
Hanna Horvath
Published April 30, 2024, 10:15 a.m. ET
A woman uses her tablet and credit card to shop online.
Shutterstock

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The average American has around four credit cards, according to a report from Experian. But some people, like myself, have far more than that.

I currently have 11 open credit cards, and at times, I’ve had even more. While managing so many cards isn’t for everyone, there are significant advantages to doing so, including maximizing rewards, taking advantage of perks, and maintaining a high credit score.

Here’s why I use so many credit cards, the strategies I use to stay on top of payments and rewards, and whether having a bunch of cards is the right move for you.  

My credit card lineup 

Before we jump into the nitty-gritty, let’s take a quick look at the cards in my wallet:

Now, you might be thinking, “Wow, that’s a lot of plastic!” And you’re right. But each card serves a specific purpose in my financial strategy.

Each card has its own purpose for my spending

I have four cash back cards that I use for everyday spending:

  • I use the Blue Cash Preferred® Card from American Express for U.S. supermarkets and U.S. gas stations, as it offers a whopping 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1%) and 3% cash back at U.S. gas stations. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout.
  • For Amazon purchases, I use the Amazon Store Card, which provides 5% cash back for Prime members.
  • When dining out, I rely on the Chase Freedom Unlimited®, which earns 3% cash back on dining and drug store purchases. 
  • For all other daily spending, I default to the Citi Double Cash® Card, which offers a solid 2% cash back on everything. This includes streaming, subscriptions, entertainment, and more.

I also have my own business, so I have a handful of business cards. The business card I use most regularly is the American Express Blue Business® Cash Card. This card offers 2% cash back on all spending (up to $50,000 in purchases each year, then 1%). I use this card for almost all of my business expenses.

I use my other cards much less frequently, but they still play an important role in my finances. 

  • U.S. Bank Altitude® Connect Visa Signature® Card: I use this card occasionally for booking hotels and car rentals, as well as for airport lounge access.
  • Capital One Quicksilver Cash Rewards Credit Card: This is my oldest card, so keeping it open helps my credit score. I also often use this card when traveling overseas because it has no foreign transaction fees.
  • Chase Freedom Flex®: This card offers 5% cash back in a rotating category each quarter. If the bonus category lines up my shopping, I’ll use this card. 
  • JetBlue Plus Card: I use this card when booking flights on JetBlue.
  • American Express The Blue Business® Plus Card: This was my first business card, offering 2X points on purchases up to $50,000 per year, then 1X. I don’t use it much, but I keep it open because it has no annual fee.
  • Ink Business Cash® Credit Card: I use this card for office supplies for my business because it offers 5% cash back at office supply stores, internet, cable, and phone services (up to $25,000 per year, then 1%). 

5 reasons why I have 11 credit cards 

Every credit card you open adds complexity to your financial life. It can mean dealing with a new bank, a new online account, and an extra statement to watch out for every month. But, for me, the complexity is often worth it. 

Here are five key reasons why I keep so many cards in my wallet. 

1. Maximizing rewards 

One of the main reasons I carry multiple cards is to maximize my rewards. Each card offers unique perks and rewards rates for different spending categories.

Some cards provide a flat rate of cash back or points on all purchases, while others offer bonus rewards for specific categories like groceries, gas, or dining.  By using the right card for the right purchase, I can rack up some serious rewards over time.

I use mostly cash back cards for my daily spending. By optimizing my card usage based on their rewards, I estimate that I earn at least $300 more in cash back annually compared to using a single, flat-rate card for all my purchases. 

This extra money adds up over time and can be used to pad my savings or offset the cost of necessary expenses.

2. Sign-up bonuses 

Another reason I open new credit cards is to take advantage of attractive sign-up bonuses. Many cards offer bonus points, miles, or cash back when you meet a minimum spending requirement within the first few months of opening an account. These bonuses can be worth hundreds or even thousands of dollars, depending on the card and the offer.

If I have a big purchase coming up, I might apply for a new card with a lucrative sign-up bonus to help offset the cost.

By timing my application and spending, I can earn a significant amount of rewards while making a necessary transaction. It’s like getting paid to spend money I was going to spend anyway!

3. Perks and benefits 

Some credit cards, particularly travel cards, come with added perks and benefits that can save you money and make your life easier. 

For example, my JetBlue Plus Card offers free checked bags, bonus points on JetBlue purchases, and 10% of my points back when I redeem them for flights. These benefits add up quickly, making the card’s annual fee well worth it for frequent JetBlue flyers like myself.

Other cards in my wallet, like the U.S. Bank Altitude Connect Visa, offer benefits such as airport lounge access and other travel protections. By choosing cards that align with my lifestyle and spending habits, I can take advantage of these perks to enhance my travel and save money along the way.

4. Separating business and personal expenses

As a freelance writer, it’s crucial for me to keep my business and personal finances separate. That’s where my business credit cards come in handy. I use the Blue Business Plus Credit Card from American Express for most of my business expenses, earning 2% cash back on up to $50,000 in purchases each year (then 1%). 

Maintaining separate business cards not only helps me stay organized for tax purposes but also helps me take advantage of rewards and benefits tailored specifically to small business owners. For example, the Ink Business Cash Card offers 5% cash back on office supply store purchases, which can add up to significant savings over time.

5. Building and maintaining a strong credit score 

Believe it or not, having multiple credit cards can actually help improve your credit score. Two important factors influencing your score are the length of your credit history and your credit utilization ratio (the amount of credit you use compared to your total credit limit).

By keeping my oldest card — the Capital One Quicksilver Cash Rewards — open, I maintain a longer average account age, which can help boost my score. Plus, having a higher total credit limit across all my cards helps keep my credit utilization low. 

Keep in mind that applying for too many cards in a short period can temporarily lower your credit score due to the hard inquiries on your credit report. But, if you space out your applications and manage your accounts responsibly, having multiple cards can help you build your score over time. 

Strategies for managing multiple credit cards 

With 11 credit cards comes great responsibility. Here are a few strategies I use to stay on top of my accounts and avoid financial headaches:

Labels

I carry five credit cards — four personal cards and one business card — in my wallet at all times. I have another six cards that I leave at home, but still use sometimes. Keeping tabs on all of those cards, and their reward structures, can be difficult.

To help me remember which card to use, I’ve labeled my cards with their respective reward categories. A quick glance at the label tells me whether to use the card for gas, groceries, dining, or something else.

For example, my Blue Cash Preferred card is labeled “gas and groceries,” while my Chase Freedom Unlimited is marked “restaurants.” These labels serve as quick reminders, making it easy to maximize my rewards without having to memorize each card’s benefits.

Budgeting apps

Budgeting apps are essential tools for managing multiple financial accounts, including credit cards. These apps allow you to link your credit card accounts, track your spending, and view transactions in one central location. 

I use You Need a Budget (YNAB) to stay on top of my finances, but there are numerous other options available. 

Automatic payments

To avoid missed payments — along with the fees and credit score damage — I set up automatic payments for all my cards. This way, I never have to worry about forgetting to pay a bill or incurring late fees.

Automatic payments also save me time and hassle compared to manually paying each card every month.

Is having 11 credit cards right for everyone?

While having multiple credit cards works well for me, it’s not for everyone. Most people do just fine with one or two cards that suit their spending habits and rewards preferences.

It’s important to consider the potential drawbacks of having many credit cards, such as:

  • Annual fees that can add up quickly if you’re not using the cards enough to justify the cost
  • The temptation to overspend and carry a balance, which can lead to high-interest debt
  • The time and effort required to manage multiple accounts and rewards programs

If you’re considering adding more cards to your wallet, be honest with yourself about your financial habits and goals. 

Will the rewards and perks outweigh the potential costs and hassle? Will you be able to pay off your balances in full each month? If not, it might be best to stick with a simpler credit card strategy.

The bottom line 

Managing 11 credit cards may seem daunting, but with the right strategies and mindset, it can be a rewarding (pun intended) experience. By maximizing rewards and taking advantage of perks, I’ve turned my credit card hobby into a profitable endeavor.

But it’s important to remember that credit cards are financial tools that require responsible use. If you’re considering expanding your credit card collection, start slowly and be honest with yourself about your ability to manage multiple accounts.

And if you’re happy with your current credit card lineup? That’s great too! The most important thing is to find a strategy that works for you and helps you reach your financial goals.

Opinions expressed are author’s alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.