How Many Credit Cards Should You Have (And Why I Have Nine)?

from Bank of America. All of these cards, except for the Hilton Honors Card, charge an annual fee. Each of these cards represents a specific brand loyalty from my past travels.card because my loyalty to its family of brands was greater than to other hotel groups and because the card, which carries a $0 annual fee, enables me to nearly double the points I earn from a Hilton stay.

A United Airlines credit card fits my lifestyle since I now live near an airport where United has a fortress hub. The World of Hyatt card offers a free night’s stay annually at one of Hyatt’s lower-tiered hotels . That $95 annual fee beats room rates of $399.card offered the most convenient flights to go visit my brother in San Francisco. An airline enthusiast could easily point out the flaw here: both United and Alaska Airlines fly this same route.

provides 6% cash rewards on up to the first $6,000 at U.S. supermarkets you buy every calendar year, compared with the 3% cash back the no-fee version of this card pays. That means, if you spend $500 a month on groceries, you will earn an extra $180 in cash rewards a year. So even after deducting the $95 annual fee for the Preferred version of the card, you’ve gotten an extra $85 in rewards, which can be redeemed as a statement credit.

In my own case, I didn’t stay at Stage 3 card ownership for long. This turned out to be an error in judgment that I am still working on resolving. At Stage 3, I had chosen each credit card carefully, after considering my specific spending behavior. Later on, I got greedy for big sign-up bonuses and jumped into Stage 4, in which a consumer is enticed by big bonuses or big rewards, sometimes in return for paying an even higher annual fee.

Chess isn’t for everyone. It takes time to become a good player. So even if you have an excellent credit score—generally required to play in Stage 4—do not feel obligated to do so.

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Is the answer irrelevant ... if we can't explain how finance works? .

Just 1 mastercard from capitalone.

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