How many credit cards does /biz/ have, and what's your

>>976906
I have one.
https://www.youtube.com/watch?v=w9Sx34swEG0

Zero. I have never owned a credit card and I never will.

>>976915
>credit card companies will send you cards FOR FREE
>I'M GOING TO PAY $100 FOR A GIZMO THAT DOES THE EXACT SAME THING

why are people so stupid

None, haven't really found a use for them yet. I know a few people that use them for the travel rewards.

Combined Limit?
Why? I'm in the positive and looking to build that.

>>976906
I want the back of this

>>976906
have 4 of them
>AE - 20k limit
>Visa - 15k limit
>Visa - 5k limit
>Mastercard - 10k limit

only use the 5k limit visa and the rest are there for muh credit score. will get more later on but i don't want to open up too many accounts in 1 year.

>>976915

Implying that would ever work in Europe, ever.

>mfw America still has cards with no encryption whatsoever

>>976906

2. 1 personal and 1 business.

this is all you ever need.

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I opened a secured card in February because my score was shit, and it's slowly climbing. Would it benefit me at all to try and apply for a real, big boy credit card? I definitely would if it could help my score, and I feel like I'm missing out on literally any kind of benefits I could be getting with one, as I've got none now.

>>976916
It's free money if you pay on time.

>>976976
>free if you give it back

i have a debit card and i never want to have a credit card. just seems irresponsible to essentially run constant loans. are you so illiquid that that is necessary?

>>976975
Does your current card have any of the following?
>No annual fee
>Credit limit of at least $5000
>Cashback on purchases, at least 1%

If you don't have at least two of those, you need a new card

>>976984
>Have a credit card to build credit
>Get 2% cash back
>Literally everything I purchase gives me 2% back
>Pay on time every month

If you think effectively paying 2% less on purchases is irresponsible, then I guess you have a point. If you realize, like everyone else, that it's a completely rational thing to do, you're just silly.

> Target
> Walmart
> Fedelity Amex
> Chase Freedom
> Barclay Arrival
> Barclay Rewards
> Discover It

Combined is 30k

>>976990

Not silly, just has lower class gen x parents.

>>976994
I grew up with working class gen x parents. My dad is financially literate and knows how to save and responsibly use credit cards. There were a few months before I was born where they literally had to use one to get food before their tax return, but otherwise it's been no problem.

Anyhow, one of each here (Visa, MC, Discover), combined limit close to $30000

>>976998

I was agreeing with you.

Though usually the thought of credit cards being bad is brought upon by that generation particularly and passed onto the next generation. Credit cards used responsibly are amazingly helpful. I've earned more than $400 in just rewards this year, it has helped me tremendously.

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>>976906
7 Cards. Combined limit: $37k

I've only got the one. It has a 5k limit.

>>976976
It encourages bad money habits.

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>>977058
Or Nah?

>>976906

Two cards, combined limit of $35,000.

http://abcnews.go.com/GMA/WaterCooler/story?id=411883

I have one.

It's a starter credit card with a limit of $500. Whenever I make a purchase, I'm sure to pay it off within the week.

I'm happy with what I have right now.

4

$120,000 | 45, 30, 30, 15 each

Perfect credit score, never a missed payment, concierge and a bunch of other stuff as perks, as well as Air Miles. I use like 13% of credit per month.

>>977073
I don't get this. I get like 20 letters from "big boy" credit cards a month saying i'm pre-approved. Is it because my parents' credit is so good?

>>976915
S H I L L
H
I
L
L

>>977058
Are you a literal child? Are you honestly incapable of spending money responsibly via credit card? I mean, if that's the case, then sure. They aren't for you.

>>977058
If you keep a good chunk in a savings account, spend and budget responsibly, and use the credit card to account for a savings account's withdrawal limits, then you can have the account pay dividends while using it to pay bills

I have 1. $1,000 limit. Only use it to pay internet, cell phone, and gas whenever I'm out past closing time.

>>976906
One credit card, $500 limit I think?

But I got it in hs or college and am well overdue for upgrading the limit since I have a bad habit of doing everything in debit. Considering 10k.

>>977079
What other perks do you get with such a perfect credit score? I want to reach such high credit limit as well, how long did it take you?

Don't own any credit cards. Honestly don't see the point of them. In any case I won't be accepted for one anyway since I had my first job this year, so I have no income record yet.

For non-US people, is a credit card worth it?

Never had a credit card but I love the doge note because I love dogecoins and mined them day one. I made $20,000 in one week and it was crazy as hell. The first 3 days dogecoins were released you could by 1 million for $20. One week later it was $1,000 per million. Fucking crazy, I can't believe I accidentally stumbled open the great investment of all times thanks to internet memes.

>>977410
>>977406
I simply do not need credit cards.
I have no debt; I own my vehicles, land and home outright. I have three successful businesses and I rent warehouse space in the local industrial area. All without credit cards.
How many of you can say the same?

>>977686
How are you not getting this? Most people ITT don't NEED credit cards either. But things effectively cost less if you have a rewards card. You don't like having an extra 400 a year like >>977029? Okay. But I don't see why you can't fathom why anyone would want it when the cost is literally just paying your monthly discretionary spending at once instead of with each individual purchase.

>>977450

I'm 27, my parents had great credit + banking history with a few banks, so I started out at $10k, because I was joined on one of their cards, at 16 years old.

It took my dad until about 35 to get a $120k limit, but he didn't "choose it" every time they offered, he only upped his limit when he wanted to, just like what I do. I could be at $180k, but I don't see a need too up it that high, because then I'd only be spending like 8% of my credit, so I will wait until I spend around 10% or more, per month, before moving to the next level.

Other perks I get are, free concert tickets to very big shows, first in line for reservations, basically I don't have to wait or reserve tables, restaurants make room for me when I show up. I also get to cut the line in most airports to check in, and I get access to many airport lounges, as well as discounted hotel rooms, like I stayed in Marina Bay Sands in Singapore last Summer, it costed like $1000 a night, but because of my credit card, I got $300 off per night, plus free access to a Maserati Gran Turismo for my entire time spent at the hotel.

You basically receive a few more perks than 'normal' people, and it's mostly discounted hotels, and way cheaper car service, sometimes even free. As well as no lines in most places, and no wait times for anything, and I'm always 100% covered with anything I buy, like I bought my sister a MacBook Pro in 2014, it was stolen in the library, and I called my card company and they bought and shipped a brand new one, from 2015, with express expedited shipping within 2 hours, and I received it within 2 days, (not 2 business days, just 2 days).

This whole bad/good credit thing doesn't really exist in the form as it does in the US so a credit card really doesn't do much. It's also a pain in the ass to pay with one, at a supermarket, restaurant etc., since you have to sign a receipt every time you do it, while with a debit card, I can just pay by 1-touch. Still have one prepaid Mastercard that I can charge directly from my bank account in case I want to buy something online that requires a credit card

>>977708
>things effectively cost less if you have a rewards card.
Things cost less if you don't pay interest on anything. And with most large purchases you get a cash-in-hand discount.
Credit cards are simply not needed. I don't need points and rewards like some child. A few extra pennies a month doesn't mean shit in comparison to the money I have saved not having a home or car loan.

>>977711
I hope to achieve all of that one day too on the side, would be nice having so much discount.

Also nice trips

>>977729
>Credit cards are simply not needed. I don't need points and rewards like some child. A few extra pennies a month doesn't mean shit in comparison to the money I have saved not having a home or car loan.
what do home and car loans have to do with credit cards?

>>977800
I only spend money that I actually have. Hence no credit cards.

Credit cards are stupid yet understandable if you need to build credit.
Although I haven't ever heard of people saying no to cash when buying a home. So that basically renders credit cards/credit irrelevant

>>977810

> have $500 in bank account
> spend $300 on credit card
> pay $300 towards credit card next day
> $200 remaining in bank account
> now have $6 in rewards
> now have $206 in bank account

It is really simple. You find out what you have to pay for and you pay with it using a credit card, instead of a debit card.

Is it really that hard? Unless you're one of those "OMFG I HAS $6,000 CREDIT LIMIT! BETTER SPEND IT ALL!", than I can certainly understand your ignorance. If that's the fact, you just can't trust yourself with money and that sounds like a personal problem. Although many of us can use money responsibly and understand spending money one does not have leads to long-term effects one shall regret.

>>977406

>implying this isn't half the reason credit card companies are profitable

Amex centurion, unlimited limit
Come at me poorfags

>>978525
I would say my spending is very responsible considering I have no debt and own my car/ land/ vehicles outright.

I have one credit card with a limit of $6k

I pay it off in full every month (never max it out) and only use it to collect frequent flyer miles

>>977729
>5% back on certain purchases
>1-2% back on literally everything you buy

There are plenty of reasons not to own a credit card, but dismissing the benefits as childish is, well, childish.

>>979599
It's almost the entire reason why they're profitable. That doesn't mean for people who aren't absolutely retarded with money can't purely benefit from having one.

>>977729
>I don't want an extra thousand a year because I only buy things in cash.

How does that make any sense? You can think that's a trivial amount. That's fine. But your'e completely childish.

I have a Discover card with an 8000 dollar limit that I hardly use.

I also have my name on a Captial One MasterCard with something like $20,000 limit on it. But its actually my dads account :^)

4. Total Credit $12k.

$700 credit rewards in cash so far and two free round trips.

People who bitch about CCs don't know how to manage finances.

2.

My first I got a bout a year and a half ago, the PayPal Mastercard, and I just recently got a Discover which gives me a good cash back rate and free month FICO score.

Combined credit line is $6,500 and I've already redeemed a few hundred in cash back.

>>976906
AMEX Gold 10000
AMEX Platinun unlimited
Visa 10000
Visa 3000

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>>976906
3 and 20k.

I have 2:

Rbc avion infinite $30k
Pc elite Mastercard $20k

Both are premium 'black' cards with loads of bennies, but not as black as the Amex black. I really don't see any other reason of needing more than 2 credit cards (one each for the big brands). Amex isn't really a credit card and their benefits are shit, so fuck them

>>979733

I'd say that you're doing it backwards, but okay.

>>980100
How is that backwards?

>>979809
An extra thousand a year is nothing.

>>980268
>I don't want to add a little bit more for no effort

That's fine that you think that. But surely you understand that many people would go "hell, I'll take it", and that they are, in fact, being both logical AND responsible in doing so, right?

>>980265
He's probably implying the lost opportunity costs for investing that happens when you pay huge sums of cash at once in the short-term just so you can save a few % on interest in the long run. As long as you could potentially see even higher returns than you'd be losing via a mortgage, you've made a poor fiscal decision.

>>980291
>surely you understand that many people would go "hell, I'll take it", and that they are, in fact, being both logical AND responsible in doing so, right?
Yes, except the vast majority of people with credit cards are irresponsible with them. Most people won't be getting 1,000$ a year from their cc company because they are up to their eyeballs in debt.

>>980294
I bought my homestead as a place to live, die and pass on to my children. It isn't an investment in the traditional sense.

I have none and most people I know don't have one either.

Are creditcards an American thing? We just use debit cards here.

>>980312
>Yes, except the vast majority of people with credit cards are irresponsible with them. Most people won't be getting 1,000$ a year from their cc company because they are up to their eyeballs in debt.
And what does that have to do with literally anything in this thread? Are you so worried that you might just fall into reckless, debt-inducing spending if you're given the opportunity that you won't even consider the benefits of a credit card? My grandpa pays off every month and collects the rewards. My father pays off every month and collects the rewards. The idea of not paying off my credit card bill monthly has literally never even crossed my mind. I don't give a shit about how everyone else manages their money. In fact, the more likely everyone is to abuse their credit cards, the higher rewards there'll be for people who use them responsibly.

>>980556

This.
The fact that most people are retards and can't use a tool correctly doesn't affect me in the least.

1 card, Platinum and I don't know the cap, but I don't care either. I use it when I dont feel like checking my debit account. I'm 20 and my parents are paying the interest (and some of the principle) on my loans while I'm going to a STEM school.

Credit cards should only be used for bonuses (flier miles etc.) or to build credit for loans. It's outdated and truthfully nobody should be using them unless for emergencies.

>>980581
outdated
please elaborate.

>>976906
Just 1 with a $2,000 limit
I follow the 10% rule where I don't spend more than 10% of the limit ($200) so it's just a tool I use to buy things during the day, then pay it off each night. Then once a month I get cash back. It's $0 annual fee, I pay $0 interest, it's literally printing me free money. I was a CC skeptic all my life until I moved to USA. I got 1 to start building credit.

>TFW $300,000 in foreign banks and USA bank only trusts me with $2,000

It's a fucking novelty

>>980581
>outdated
>being this retarded with your cash

I don't understand why you wouldn't use a credit card that gives you reward points or cash back for stuff you need to buy anyway. I get 2% back on gas and 1% on groceries. I can get over 100$ a year back for buying that shit on a cc, or get nothing back. Surely, /biz/ knows which option is the correct one.

>>976906
1 @ $7500
I buy everything on it, then pay it off at the end of the month to avoid interest. I've made about $150 cash back from the bonuses this year. $0 annual fee. It's beauty.

>>980581
>I don't know the cap
baka desu senpai

>>976906
1 @ $300 limit

I got it when I was 18. I'm 23 now. I wonder what my limit would be if I got a different card or something.

>>980733
applied for my first card when I was either 21 or 22, no real credit history to speak of apart from a couple student loans then partially paid off

they gave me a $4500 limit

>>980736
That's interesting.

I have a decent amount of credit history with a car loan and school loans that are paid off. I don't really use the card at all. I don't know what my score is either.

>>980736
>"No real credit history"
Explains that he has 3-4 years of student loan debt

>>980751
no previous credit cards, no previous auto loans (paid for first car in cash)

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>people who don't use credit card
No credit history is just as bad as a bad one

>>980771
You god damn chucklefuck student loan debt establishes a credit history since it is credit. You act like you came out of fucking nowhere and a bank threw a $4500 card at you. They already have you by the balls.

Why do people brag about not having credit cards or debt? Debt is a tool. It's leverage when used right. In the case of credit cards, you can earn cash back or points and travel literally for free rather than paying.

Mortgages are debt - why would you live in a hovel when you can leverage?

This is /biz/ you'd think it wouldn't be full of peasant NEETs thinking "DURR debt all evil!"

If you aren't using debt right now as cheap as money is you're a fucking idiot. Especially if your business isn't using debt to its advantage rather than giving away equity.

>>981006
Want an example of a good use of debt? A 0% car loan. The cost of the car effectively decreases with inflation - now maximize it if you have full cash for it by putting that cash in some sort of savings or money market to get interest, and draft the loan payments. You won't run into reg D problems since it's one withdrawal - and even if the savings is just 1%, inflation is 3%, it lowers the price of the car effectively by 4% and compounding

>>976906
What is a good credit card to start with?

>>981018
Do you have credit at all? Student loans etc

>>977079
>Spending over $15k/month and not giving a shit.

That's the target and comfort I'd prefer, not the card.

>>980858
That's not true at all.

Zero. Credit cards are quite unpopular here in the Netherlands as they are considered insecure. So I never had the need for one.

I do have a debit card.

>>981595

How much does the bank cover if your debit card is stolen and used for a bunch of money? How much is secured for a credit card?

The liability is like 50 dollars for ccs in the u.s. and 1k for debit.

1, for 1k. I'm a couple months away from the "no annual fee" offer expiring, which I guess means it's time to jump ship to a new one.

>>981602
You get all your money back, except in the case of gross negligence.

You do have the duty to check your bank account from time to time. And report your stolen card. Meaning you can't let people steal from you for months.

>>976975
>tfw I'm Venezuelan

Visa - 5k
Amex Platinum - unlimited
I'm 19. Come at me, poorfaggots.

I have one. I use it once for a small amount of groceries each month and pay it off that month. I only do this because everyone tells me that it "builds credit". Is this true?

1 at 1.2k from my bank but I'm probably going to look into another one after graduating.

Pay off in full every month, never max out.

>>982262
Yes, it establishes that you can pay your bills. Keep doing that.

I heard from a military friend that they tell you not to pay off your card immediately to build credit. I've always been told to pay off the card every month growing up. I'm about to get a discover student card(just turned 20, never had one). What's the best way to build credit?

>>977410
Even better, use a MMA instead of savings

Amazon Rewards VISA $2000

Haven't really needed to raise the limit, and I like to keep my wallet slim. Is there a real advantage to having more than one credit card?

50k limit over 11 cards, 12% utilization, 790 FICO

>>977686
I own a business, I'm not as successful as you, but I'd sure rather put all business expenses on a credit card for the rewards

>>982511
>any reason to own more than one card?

/biz/ dick measuring threads

>>976906
3 cards, $10,000 limit, no debt, 772 score

need to open an american express $25,000 limit card to up my score, aside from that my length of history is the only thing that is hurting me, which is complete bullshit imo

>>977711
Neat, that's where I want to get with my credit. But more importantly, how did you make your money?