Use the right card at the right time
Currently, my husband and I have 26 different credit cards to our names. We've had as many as 40 at one time in the past, but we've cancelled some and taken it easy on new card sign-ups the last 24 months.
I know that sounds crazy, and it probably is, but I like having a bunch of different cards that meet different needs. I keep some credit cards for perks like trip cancellation and interruption insurance, primary auto rental coverage, or cell phone replacement coverage. Other cards I use regularly to rack up hundreds of thousands of rewards points every year.
Over the last 18 months, I've earned over 1 million points and miles I've used to travel to destinations all over Europe and the Caribbean — with and without husband and kids. Here are my tips for maximizing rewards when you're willing to juggle more than one credit card at one time:revealed that only 45% of consumers with credit cards paid their bills in full each month.
That's why I never, ever pay interest on my purchases and suggest you say the same. If you plan to carry a balance, rewards just aren't worth it.One problem that comes with juggling multiple rewards cards is the fact that many of the best ones charge annual fees. My favorite credit card, theIf you plan to keep multiple cards, it's crucial to make sure you're only paying fees when it's worth it.
, for example, it's a no-brainer because we get annual travel credits worth $300, Priority Pass Select membership, a Global Entry/TSA Precheck credit up to $100, and 3x points on travel and dining.
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