Too many credit cards

[progree]

13. 2 credit cards and a debit card. I NEVER carry a balance - if I have enuf $ for investments, and

Last edited Mon Nov 2, 2020, 12:20 AM - Edit history (4)

to post here about my asset allocation and Roth conversions and capital gains taxes and so on, then I certainly have enuf $ to pay off any 13%+++ credit card. The greatest investment is one that gets rid of any such interest expense. I know of no investment other than paying off double-digit-rate debt that guarantees a higher return. None.

One credit card, the SAFE one is for autopay-RECURRING bills like utility bills that I put on autopay. Only used for relatively safe and recurring things. Reason: I hate when I do lose a card or the number is hacked, to have to spend most of a day changing all the recurring autopay accounts (Xcel, Centerpoint, ConsumerCellular, my insurance, on and on) to a new card number.

The other credit card is the "WILD" card which I use for non-autopay non-recurring things, restaurants, gasoline, and online stuff for example. If this card gets lost or hacked, (a higher probability than with the SAFE card), I won't have to change any recurring autopay items to the new card because there aren't any recurring autopay items on this card.

The debit card is just for the ATM. Hardly use it in the pandemic era because I think most places and people prefer handling a card than cash (and in most places only I touch the card, e.g. grocery store I stick it in the slot myself).

Both credit cards are with Chase. So once a week I log in to Chase and look at what's been charged to my card. Same thing with USBank where my checking account and the debit card are. I don't get paper statements.

I get my credit score from the Chase site. Since I log into the Chase site once a week, I see my score once a week.

Edited to add: both credit cards are auto-paid IN FULL monthly from my checking account.