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"If you have 29 credit cards you're probably a millenial."

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dc3k

Member
I got that Chase Sapphire Reserve card. Just over a year prior to applying I had a 0 credit rating. They gave me a $25000 limit lol. Have been using it for 100% of my purchases since December and with the sign on bonus I have like $1800 in flight credit sitting in my account.
 
I got that Chase Sapphire Reserve card. Just over a year prior to applying I had a 0 credit rating. They gave me a $25000 limit lol. Have been using it for 100% of my purchases since December and with the sign on bonus I have like $1800 in flight credit sitting in my account.


Damn money bags.
 

3N16MA

Banned
I have 1 card and it's the same account that I have always had. Use it all the time but also pay it off in full without missing a payment. Very good credit and get some reward points as a bonus.

See no reason to get another.
 

GraveRobberX

Platinum Trophy: Learned to Shit While Upright Again.
So most people are just stacking to get the bonus to cover expenses on said card but artificially


Like say you have 5 cards, to hit certain cash back or rewards points you need to bulk up the card enough
So you are literally trading in your cash into a digital medium but with getting a free bonus behind it

Buy $200 worth of pre-paid cards on all 5 cards from mall/store
So you spent $1000 in total
Bills come in
Now use those same $1000 worth of pre-paid cards to pay off those bills
You don't lose out anything and earn bonus
Cycle again

Bonus keeps getting triggered and by the end of the year you have a nice chunk of bonus to use

Hell I've had amazon rewards card for roughly for 3+ years and have $150 to use up
This is me not doing what these millennial dare, just regular shopping


I'm guessing those over 10+ cards have a huge friends network that they abuse to get those bonuses to trigger
Like I'll get the tab or pay the bill with my card, just pay me back or give me the money etc.

Others are just gaming the system which is legal and just hitting the right bonuses and keep moving onto the next one
 

Dishwalla

Banned
What is considered too high as far as limits go? I have two cards and one has a limit of $17,500, which I think is too much. I've only ever put like 4g on that card.
 
So most people are just stacking to get the bonus to cover expenses on said card but artificially


Like say you have 5 cards, to hit certain cash back or rewards points you need to bulk up the card enough
So you are literally trading in your cash into a digital medium but with getting a free bonus behind it

Buy $200 worth of pre-paid cards on all 5 cards from mall/store
So you spent $1000 in total
Bills come in
Now use those same $1000 worth of pre-paid cards to pay off those bills
You don't lose out anything and earn bonus
Cycle again

Bonus keeps getting triggered and by the end of the year you have a nice chunk of bonus to use

Hell I've had amazon rewards card for roughly for 3+ years and have $150 to use up
This is me not doing what these millennial dare, just regular shopping


I'm guessing those over 10+ cards have a huge friends network that they abuse to get those bonuses to trigger
Like I'll get the tab or pay the bill with my card, just pay me back or give me the money etc.

Others are just gaming the system which is legal and just hitting the right bonuses and keep moving onto the next one


Oh so there is a method to beat the house?
 

Carnby

Member
What is considered too high as far as limits go? I have two cards and one has a limit of $17,500, which I think is too much. I've only ever put like 4g on that card.

It's not the limit that is a problem (the higher the better). It's the percentage of useage of your available credit that has a bigger impact.
 

SRG01

Member
So most people are just stacking to get the bonus to cover expenses on said card but artificially


Like say you have 5 cards, to hit certain cash back or rewards points you need to bulk up the card enough
So you are literally trading in your cash into a digital medium but with getting a free bonus behind it

Buy $200 worth of pre-paid cards on all 5 cards from mall/store
So you spent $1000 in total
Bills come in
Now use those same $1000 worth of pre-paid cards to pay off those bills
You don't lose out anything and earn bonus
Cycle again

Bonus keeps getting triggered and by the end of the year you have a nice chunk of bonus to use

Hell I've had amazon rewards card for roughly for 3+ years and have $150 to use up
This is me not doing what these millennial dare, just regular shopping


I'm guessing those over 10+ cards have a huge friends network that they abuse to get those bonuses to trigger
Like I'll get the tab or pay the bill with my card, just pay me back or give me the money etc.

Others are just gaming the system which is legal and just hitting the right bonuses and keep moving onto the next one

Wait, wait. Hold on a second. Is this actually legal? This would quite literally mean that you could recycle cash-back for profits.

On top of that, don't pre-paid cards have activation fees?

Oh so there is a method to beat the house?

That's why I'm wondering if this is even legal, or if it can actually beat the activation fees.

Also, how can a person use a pre-paid card to pay off a credit card? There's no equivalent of a 'point of sale' when paying off the balance...
 

Ernest

Banned
I have only 2 (personal) cards. One I use in person, the other is online only.
Last I checked, I had "perfect" credit.
I do have 2 other cards, but they're for business.
 

Syriel

Member
So most people are just stacking to get the bonus to cover expenses on said card but artificially

Others are just gaming the system which is legal and just hitting the right bonuses and keep moving onto the next one

You should read boards like FlyerTalk. People can get creative.

A few years ago, the US Mint was inadvertently subsidizing credit card churning when it was trying to dump Sacajawea dollar coins.

You could buy a few thousand of the coins for face value, pay with your CC, and have them shipped to your house for free. Repeat as often as you like.

Oh so there is a method to beat the house?

Multiple ways to do so.

No one should EVER lose money by using credit cards if you use them responsibly.
 

The Technomancer

card-carrying scientician
What is considered too high as far as limits go? I have two cards and one has a limit of $17,500, which I think is too much. I've only ever put like 4g on that card.

Higher limit is better, what you want to keep low is the fraction of that in use. I've got a couple with 10k limits but I never let them cross 1k and even that's only in a "broken laptop" level emergency
 

medrew

Member
Congrats. You are overpaying for everything.

Credit card companies take a cut of all sales. By pushing sales to credit cards you are decreasing the amount the retailer is taking, so effectively the price needs to go up.

Congrats on pushing up the sticker price to earn rewards. All you are doing is taxing yourself/others to get it back on rewards.
 

Syriel

Member
Credit card companies take a cut of all sales. By pushing sales to credit cards you are decreasing the amount the retailer is taking, so effectively the price needs to go up.

Congrats on pushing up the sticker price to earn rewards. All you are doing is taxing yourself/others to get it back on rewards.

That ship has long since sailed.

Something that is going to sell for $100 is going to sell for $100 regardless of how I pay for it, because CC use is so ingrained in society.

As an individual, I can either pay $100 in cash, or pay $100 on my credit card and then get an instant $2 rebate. I would be stupid to not take the cashback.
 

nekkid

It doesn't matter who we are, what matters is our plan.
This sound fine, as long as you have the discipline not to rack up the debt, and just use them for their rewards.

Credit card companies hate me for this - I rinse them for their rewards, but in about 15 years of having them I have NEVER paid any interest. I always pay off the full amount each month.
 

GraveRobberX

Platinum Trophy: Learned to Shit While Upright Again.
I own none, I bet my credit is not good because of it.

If you ever want to buy a house you should look into it

My score is above 700+ and I'm an undocumented immigrant

Credit cards do help
Just pay on time
Don't make crazy purchases (duh!)
Always buy 50% of cash you know you have to cover as credit and build it up

Mortgage, car and house loans will be looking for this


Shit I have money in checking account that I can just buy instantly as debit, but why not as credit, see it being posted, get due date, and pay it off maybe a day after posting and net a bonus on top of that

Both my credit cards were gotten through amazon
There was a bonus of $75 for amazon rewards card credit, if you bought I think $150 worth and paid it off on time within a 3 month time limit
Then 3% shop with points, 5% if your a prime member

Then the Discover It card had a $70 cash back bonus if you used their card at amazon and paid bill on time

I already buy stuff from amazon monthly for family and me
So it's worth it
Build credit, get early bonus and then reward/bonus on every purchase

I mean $145 gotten to open 2 cards and have $150 on 1 Card is not that bad
 

JP_

Banned
I have a few but I only use two (one for personal, one for business). I pay them both off every month so I never pay interest and just get the cash back bonuses and build credit. I don't see why I'd need more -- not like I'm anywhere close to hitting my credit limits each month. Trying to juggle so many just seems like a way to waste money by making mistakes and having to pay more interest/fees.

edit: I guess it can make sense to game the system but it's hard to imagine that has a better return than just getting actual side gigs.
 

lt519

Member
I have like 9, my wife has 4. I honestly lost count and half of them sit in drawer unused. We just booked a trip to Spain for free from sign up bonuses. We have another $500 in sign up bonus on the way. Free money, it's honestly dumb to not do it for sign up bonuses. Just be responsible and treat it like a debit card.

Not to mention all the phenomenal perks they have. I saved $350 on a TV I bought this year when the price was dropped within 90 days and I used my discover cards Price Protection. Another time I got stuck overnight in Chicago due to plane delays and my Chase Sapphire card covered my hotel and incidental costs.
 

SRG01

Member
Holy shit, I just did some looking into this stuff, and it's super sketchy to the point where the activity can flag accounts and credit cards. (edit the bonus stacking thing)
 

Nelo Ice

Banned
Well this is surprising I usually read about millenials terrified of credit including in my own network. I'm like the only proponent of credit cards to friends and family.
 

darklin0

Banned
If you ever want to buy a house you should look into it

My score is above 700+ and I'm an undocumented immigrant

Credit cards do help
Just pay on time
Don't make crazy purchases (duh!)
Always buy 50% of cash you know you have to cover as credit and build it up

Mortgage, car and house loans will be looking for this


Shit I have money in checking account that I can just buy instantly as debit, but why not as credit, see it being posted, get due date, and pay it off maybe a day after posting and net a bonus on top of that

Both my credit cards were gotten through amazon
There was a bonus of $75 for amazon rewards card credit, if you bought I think $150 worth and paid it off on time within a 3 month time limit
Then 3% shop with points, 5% if your a prime member

Then the Discover It card had a $70 cash back bonus if you used their card at amazon and paid bill on time

I already buy stuff from amazon monthly for family and me
So it's worth it
Build credit, get early bonus and then reward/bonus on every purchase

I mean $145 gotten to open 2 cards and have $150 on 1 Card is not that bad

For sure. I am thinking of getting one just top build credit. I plan on just using it to gas up, which I do like twice a month, so I can rely on it being an easy way to just build credit.
 

redlegs87

Member
I was told all my life that credit cards are bad and only cause debt. It wasn't until last year after doing research on my own did I realize they are tool to be leveraged. I have 3 currently all very small limits since I am now just building my credit. I look forward to getting better rewards once I age my accounts some more.
 

numble

Member
Credit card companies take a cut of all sales. By pushing sales to credit cards you are decreasing the amount the retailer is taking, so effectively the price needs to go up.

Congrats on pushing up the sticker price to earn rewards. All you are doing is taxing yourself/others to get it back on rewards.

Ask the retailer if they will lower the price if you pay in cash since you will save them credit card transaction costs (some actually will give you a discount). If they insist on charging you the price with the credit card cost built in, you are just taxing yourself if you pay in cash instead of using a rewards card.
 

UraMallas

Member
I have 4 with different rewards programs. The one I use the most is the Amazon Prime one because I buy a shitton from Amazon so it's like paying for the state sales tax in rewards when I buy from there.

That said, all things are good in moderation. These people need help.
 

Marvie_3

Banned
I have 3 plus a store card. Racked up a bunch of money on them years ago and finally have them paid off. Feels good man.
 

dankir

Member
Had 2 just paid off one completely because one is more than enough for me and I make 6 figures. So yeah what the fuck is wrong with these people???

Ugh I'm getting stressed thinking about 29 cards. Fucking psychos!
 

Somnid

Member
The only reason I have a credit card is because I looked at how much I spent on Amazon and it made sense to get kickbacks. Before I was 100% debit.
 
Uhg. I have ONE credit card and THREE store cards. The credit card has a limit of $300 and capital one won't give me a line increase because of car loan inquires in October. Now I'm afraid to apply for more/better credit cards, which would just generate more credit inquires ><. Capital One sucks so much ass.

I've not met any other Millennials that had so many cards or were as card-crazy as the folks in that article, though.

To folks that don't use credit... Don't you need credit/credit rating to even rent apartments? Let alone buy homes or cars. What am I missing?
 
I have 2, lol. One is a "student" account capped at $1,000 that I haven't used in years. And then I have an Amazon Visa that I basically use as a debit card for the points.
 
I thought millennials were famously hesitant to sign up for credits cards

Well with this and the "moms should stay home" business I feel fucking betrayed by my generation. We were supposed to make a difference for the better, goddammit
 
I have three. Amex Blue Cash for groceries. Sapphire Reserve for dinner and traveling. And a Chase Freedom for everything else. Millennial here.
 

akira28

Member
I know people that do this, and I wonder who taught them. To me credit cards are little synthetic creatures that have few uses and many pitfalls. But I got a friend who tears through all that APR language and does the points and the rewards and all that.
 
Exclusive Photo of the guy

good-thinking-black-guy.jpg
 

Dosia

Member
I have used about 15 over the past 8 yrs or so. Cash back offers have gotten me thousands of dollars. I only actively use 2 of them though, and just let the others hang with no balance. 780+ score currently
 
I only have one, well technically two, but one of them is an additional from my sister that I never use. And I'm millenial.

I only use my credit card to build my credit record (I'm not american). 6 months and the bank already approved around 535 USD monthly for my credit line. Not bad since I still don't have a real job, lol.
 
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