I have reached 62 active open lines between personal and business. It’s an accomplishment and basically makes your credit score bullet proof outside of inquiries until they fall off.
Congrats on the new home. The hardest part here is managing all these cards to make sure you dont get an account closed for lack of usage. Also deciding when to reduce credit lines voluntarily. Something people that watch this video wont realize is that it took time to accomplish this set up. It also evolves and changes throughout many years. Some of it is luck just by getting a card before they change rules or discontinue it.
I have 8 credit/charge cards for a total of $2900 in annual fees, and I'm looking forward to downgrade and/or cancel to reduce my annual fees. Excellent video Mark! Thank you for all you do.
Mark, I am almost done with my chase setup. Next I am looking at either a Hilton Aspire or Delta reserve. I am working on Ritz Carlton for next year’s product change. Can u do a stranger comparisons of airline vs hotel on these 2 from Amex?
@@nickevans4273 - Plan A = downgrade to the Marriott Bonvoy American Express Card ($95 AF, not publicly available...only a downgrade option). It still comes with a 35K FNA.
No I didn't get all the Inks multiple times. The HH Aspire is a fantastic card...for the right people who value & use the benefits. I'm not currently one of those people, so I don't have the card.
Wow awesome to see all of the cards you have had in one graphic, its almost hard to believe! Also, just curious about your thoughts on lifetime hotel status and if its worth it to chase after or not (Marriott and/or Hilton). Thanks in advance and great video Mark!
Glad you enjoyed it! To me, lifetime status is only worth pursuing if you (a) travel frequently enough to actually enjoy the benefits multiple times per year and (b) like the program & corresponding properties.
Barclays isn’t offering a downgrade option for the $95 AF personal Aviator, at least not giving me the option. They wouldn’t even offer me a retention bonus 🤨
I applied 14 credit cards within 2.5 years and majority of the cards are no annual fees. Once I get the welcome bonus, I barely spend those credit cards maybe once or twice a year just to keep it active. I was curious by spending $5916 annual fee, how much benefit do you think you have received?
I don't track the value received each year. I have many of these cards for business purposes (i.e., running this channel). If I didn't have a channel focused on reviews & comparisons, then I wouldn't have all these cards.
What do you do with those downgraded and no longer used cards? Do you let them sit at 0 balance, or do you still charge a small amount on them monthly? (Or some other interval)
I just saw another creator have up to 10 debit cards, and now this video pops up with 53 Credit cards!?😮😵💫 You Americans/business people have a lot going on hey 😅😅 great video Mark! 😁 Also, congrats on the new home! 🎉🏡
Can you give us information on what the financial benefit is for the $6000 in annual fees? How much would flights and hotels have been if you didn’t use the points?
The financial benefit for most people would be negative. I myself no longer travel enough to justify the fees. However, since starting this TH-cam channel, I view them as business expenses. I pay the fees (and write them off on my taxes) in order to get hands-on experience with the rewards, benefits, portals, and more so I can produce the best videos I can.
For status matching, rewards on gas, and a focus on budget to mid-tier properties, I'd go with Wyndham. For a much greater portfolio of upscale & luxury property redemptions, I'd go with IHG.
Just curious, what does your FICO average ballpark? 600,700,800? I’m considering do the same but afraid of blowout out my score which is in the high 8’s. Thx
Not anymore. That was a leftover thing I said from the origin of the channel, which was more than just credit cards (those videos have been deleted though).
I'm not saying I don't believe it, but like...many of these banks are *notorious* for steering clear of people who have too much available credit (Citi), people who have too many open accounts (Citi, US Bank, Capital One). How...how do you get around that?
Nothing in particular I did to circumvent hard / soft rules. Perhaps the rules were more relaxed in years past. I will say that having banking relationships may be a factor, esp. with U.S. Bank, BOA, and others.
Great video. I have 62 personal cards and one business card. I keep track of them on a spreadsheet. Every card has a purpose. With the rewards, it’s nice to only pay 95 to 98% of the bill. My utilization is usually between one and two percent.
I was doing really well with my roadmap, and then I started getting denials, I think due to “velocity”. My FICO and Vantage scores are still well above 800, but with 6 hard pulls in the last year, I’m dead in the water. Any suggestions?
Same here, at least with Capital One - I got the Venture X as my second points/miles card, and got denied for the SavorOne despite having an 800 credit score. (Getting 5 cards within 7 months probably didn't help.) My luck wasn't as bad as you - I took a 3 month break after being denied for the SavorOne, and got approved for the Bilt Mastercard and the Barclays AAdvantage Aviator Red Mastercard this month, both within a week! I'll probably take another 3 month break, and then enter into Citi/Wells Fargo, especially since my approval likelihood with Capital One is dead with the amount of hard inquiries I have this past 12 months.
Work around is grabbing cards from the smaller lenders or credit unions if you are looking for more quantity. If you’re after the big fish from big lenders they prefer a long garden before the hunt!
He's at $5,916 in annual fees = couldn't imagine trying to juggle all of that to make sure I take advantage of all the "value" = Guessing that he makes plenty on this channel to make that yearly payment a nothing burger
53 cards ONLY $540k limit ????? Wow you are doing quite bad! Instead of keep apply new accounts to decrease age of history but should CLI which carry very less cards with all high limit
Hey Mark if I worked at amex as a CEO and seen all those Amex you had I would have gave you a 950 credit score if that was possible. I'm surprised Amex didn't offer you a Black Card.
Amex doesn't care how many cards of theirs you have; they care how much spend you put on them. 1 business owner who puts over 400k annually on a couple of cards is highly favored, vs a person with 10 cards who max spends 100k annually.
Why not? Just because you were told free money was worth less than earned money? Because you were told no one is responsible with debt? Because you think a thick wallet is bad for your back?
I think for most people it would not be healthy, actually pretty bad. However for those of us who can (and like) to keep track of every detail.... This is awesome and healthy too!!!!!!
Mark, congrats on the new house! It must be almost a full time job to keep track of all the cards and use each one periodically to keep the account active.
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@@Shibib317 - I don't know if point redemptions are valid. You'll have to call Chase & ask them to confirm.
Dave Ramsey just passed out
lmao
😂
😂😂😂💀💀💀
😂🤣😂🤣😂🤣PMSL
LOL!
This is exactly 53 more cards than every Dave Ramsey follower combined ☝
🤫🤫🤫
Dave Ramsey is a con artist.
Ramsey followers are closet CCers
His followers are weak and undereducated debt is a tool use it as cash you have no problems.
You have a full deck of cards. 😅
I have reached 62 active open lines between personal and business. It’s an accomplishment and basically makes your credit score bullet proof outside of inquiries until they fall off.
You're up to 62 now? I have some catching up to do
😮
Legend 🏆
what do banks typically set as a limit for the combined credit card limit? i heard it's 50% of income across all cards issued by the bank
26 cards with $930k limit current gardening will back to app spread in Nov
Congrats on the new home. The hardest part here is managing all these cards to make sure you dont get an account closed for lack of usage. Also deciding when to reduce credit lines voluntarily. Something people that watch this video wont realize is that it took time to accomplish this set up. It also evolves and changes throughout many years. Some of it is luck just by getting a card before they change rules or discontinue it.
Very true!
Looking good! It definitely makes sense why you're thinking of downsizing a little bit
Hey mark, how was your opinion changed on the ritz Carlton? Been debating product changing to it next year
Good card for a small # of people. Watch my review of it here: th-cam.com/video/KV2Zgy5Tz_8/w-d-xo.html
Also note the pinned comment.
4th time watching this video, I enjoy it so much!
I enjoyed the recap. Thanks!
Cap one just gave me a upgrade from quick silver one to venture one glad they did that now I don’t have a annual fee on that
Awesome!
CONGRATS Mark on your new home! 🏠🎉🎊 Keep up the awesome work on these great videos.
Thank you! 💯
Thanks for the info + awesome video!
❤ very educational thank you - love ur cards collection
I have 8 credit/charge cards for a total of $2900 in annual fees, and I'm looking forward to downgrade and/or cancel to reduce my annual fees. Excellent video Mark! Thank you for all you do.
Quite easy to come down in cost from $2,900 😁
Hey little buddy congrats on the house
Thank you!
Awesome video. Definitely interested in a follow about which your plan on cancelling and why longterm. Awesome job Mark!
Too much to keep track of 😢
My head and brain hurt now 😮😢
that is very true using credit cards responsibly
Lifetime Platinum status with Marriott is worth it, as is Million Miler status with United. I have co-branded business and personal cards with both.
So I thought me having 10 major credit cards and 4 retailer credit cards was excessive!!!
wow. Key has 50 or so, you have 53 and Lalit recently said he had 60. America what a country.
The Gambit of cc 😎 great vid 👍 , I had over 24 now aiming for only 10 cc.
Annual fees over the years definitely cancelled out all of the potential positives
For sure. None of this makes sense for a regular consumer, and I wouldn't do it if that were the case. For me, this is a business.
Great job
Mark, I am almost done with my chase setup. Next I am looking at either a Hilton Aspire or Delta reserve. I am working on Ritz Carlton for next year’s product change. Can u do a stranger comparisons of airline vs hotel on these 2 from Amex?
I don't plan to compare those 2 cards in a video. Good luck & have fun with it!
Once you hit Marriott lifetime platinum, do you think you’ll downgrade/cancel the brilliant card?
That's my current plan.
@@MarkReese specifically downgrade or cancel? Trying to follow the same path and wondering what others are doing
@@nickevans4273 - Plan A = downgrade to the Marriott Bonvoy American Express Card ($95 AF, not publicly available...only a downgrade option). It still comes with a 35K FNA.
Jeebus! What are you paying on fees? All those Platinums alone is crazy.
Total fees was shown toward the end of the video.
What a great video 🎉and you didn’t get Inks 3 times each like many people does?Thoughts about Hilton Aspire card?
No I didn't get all the Inks multiple times. The HH Aspire is a fantastic card...for the right people who value & use the benefits. I'm not currently one of those people, so I don't have the card.
You don’t need anymore CARDS!!
Are you able to use the BILT card on your new mortgage?
Mortgages aren't available to earn rewards at this time via Bilt. Hope that changes in the future though!
Was your Citi Dividend force changed to a custom cash?
No, I did it a little while ago willingly via phone call.
Wow awesome to see all of the cards you have had in one graphic, its almost hard to believe! Also, just curious about your thoughts on lifetime hotel status and if its worth it to chase after or not (Marriott and/or Hilton). Thanks in advance and great video Mark!
Glad you enjoyed it! To me, lifetime status is only worth pursuing if you (a) travel frequently enough to actually enjoy the benefits multiple times per year and (b) like the program & corresponding properties.
I thought I was bad with 35 Mark holy 💩 😂
I thought I was bad with 7 credit cards 😅
Barclays isn’t offering a downgrade option for the $95 AF personal Aviator, at least not giving me the option. They wouldn’t even offer me a retention bonus 🤨
Bummer :(
🔥🔥🔥
What does 2 Green’s get you? Clear+ for you and player 2?
Annual referral cap of 100K points per card.
I applied 14 credit cards within 2.5 years and majority of the cards are no annual fees. Once I get the welcome bonus, I barely spend those credit cards maybe once or twice a year just to keep it active. I was curious by spending $5916 annual fee, how much benefit do you think you have received?
I don't track the value received each year. I have many of these cards for business purposes (i.e., running this channel). If I didn't have a channel focused on reviews & comparisons, then I wouldn't have all these cards.
what is your total annual fee on all these credit cards
Yes...
I answered that in the Summary section of the video.
What do you do with those downgraded and no longer used cards?
Do you let them sit at 0 balance, or do you still charge a small amount on them monthly? (Or some other interval)
I use them at least once every 6 months or so to keep them active.
I just saw another creator have up to 10 debit cards, and now this video pops up with 53 Credit cards!?😮😵💫
You Americans/business people have a lot going on hey 😅😅 great video Mark! 😁 Also, congrats on the new home! 🎉🏡
Thank you! 💯
How do you even keep track on all your cards ?
I use both a spreadsheet and MaxRewards.
I’m at 12 I’m having trouble putting enough spend on my cards to justify CL increases. I never use my debit card I usually spend 3k - 5k a month.
Do you use a different card a month to keep them from closing that is a lot to manage
No. All cards get used once about every 6 months, so just twice per year.
If you add together all the annual fees you are paying it far exceeds my annual income.
Mark es unico in this game
🥇
I do Uber and door-dashing can I apply for a business credit card
Yes
For Amex and Chase very easy yea
Yes you can!
Is the Barclays AA business card still a thing?
I want an AA card but I don't like Citi
It's not currently accepting new applications.
Can you give us information on what the financial benefit is for the $6000 in annual fees? How much would flights and hotels have been if you didn’t use the points?
The financial benefit for most people would be negative. I myself no longer travel enough to justify the fees. However, since starting this TH-cam channel, I view them as business expenses. I pay the fees (and write them off on my taxes) in order to get hands-on experience with the rewards, benefits, portals, and more so I can produce the best videos I can.
Would you recommend the wyndham business card or the ihg business card if you had to choose one ?
Wyndham, especially if you visit Caesars properties
For status matching, rewards on gas, and a focus on budget to mid-tier properties, I'd go with Wyndham.
For a much greater portfolio of upscale & luxury property redemptions, I'd go with IHG.
Mark
Your the man
I thought my 41 open cards was a lot
Wow
You can only put quality spending on few cards or ecosystem.
Nice video
Do you really travel that much to get use out of all these card perks?
@@UTubeVidWatcher could be
Definitely not.
@@MarkReese its an amazing feat just to get approved for all those. How many years did it take ?
@@suitcafe - About 11 years.
Just curious, what does your FICO average ballpark? 600,700,800? I’m considering do the same but afraid of blowout out my score which is in the high 8’s. Thx
For me it's typically 760 - 785. However, my score averages do not reflect what others will experience, even if they have the same # of cards.
How much do you pay annually for all these?
See the Summary section at the end of the video.
No "You are great" at the end?!?!
Not anymore. That was a leftover thing I said from the origin of the channel, which was more than just credit cards (those videos have been deleted though).
Blue cash everyday earns 3% at amazon? 😮
Online retail yes!
It sure does!
How many inquiries do you have😊
EX: 13
TU: 3
EQ: 2
@markreese, how do you have more than 5 active credit cards with AMEX. I know the charge card doesn’t count the 5 card limit.
I was wondering the same thing. May be co-branded cards don't count.
Sometimes Amex limits people to 4, 5, or more. It can vary, though 5 seems to be most common. It's one of those "rules" that isn't set in stone.
I'm not saying I don't believe it, but like...many of these banks are *notorious* for steering clear of people who have too much available credit (Citi), people who have too many open accounts (Citi, US Bank, Capital One). How...how do you get around that?
Nothing in particular I did to circumvent hard / soft rules. Perhaps the rules were more relaxed in years past. I will say that having banking relationships may be a factor, esp. with U.S. Bank, BOA, and others.
Great video. I have 62 personal cards and one business card. I keep track of them on a spreadsheet. Every card has a purpose. With the rewards, it’s nice to only pay 95 to 98% of the bill. My utilization is usually between one and two percent.
Are you able to write-off all those cc annual fees as a business expense? 😎
Yes!
Se dice HUBO no “hubieron” 🤦🏽♀️
A qué te refieres? Este vídeo está en inglés.
No pool table this time 🥹. I have 16 cards totaling $6,800 AFs.
Wait so the 40 elite nights from your amex marriott cards stack up year over year?
They sure do! 25 via personal Bonvoy Brilliant + 15 via Bonvoy Business.
It doesn't make sense to have so many cards unless you have a TH-cam channel to benefit from them. 🤨
Correct.
I think it's more of an accomplishment that I only have 5 credit cards and have an 800 credit score.
You have an addiction.
Used responsibly no harm done, if the bank will lend to you and you pay in full monthly there is no rules to the credit hobby.
Wow.
So with 4 Amex Platinum Cards you have the opportunity to earn up 400k in referral points? (100k per card)
Thank you for the clarification!
That's right!
Your extremely responsible
I was doing really well with my roadmap, and then I started getting denials, I think due to “velocity”. My FICO and Vantage scores are still well above 800, but with 6 hard pulls in the last year, I’m dead in the water. Any suggestions?
Same here, at least with Capital One - I got the Venture X as my second points/miles card, and got denied for the SavorOne despite having an 800 credit score. (Getting 5 cards within 7 months probably didn't help.)
My luck wasn't as bad as you - I took a 3 month break after being denied for the SavorOne, and got approved for the Bilt Mastercard and the Barclays AAdvantage Aviator Red Mastercard this month, both within a week! I'll probably take another 3 month break, and then enter into Citi/Wells Fargo, especially since my approval likelihood with Capital One is dead with the amount of hard inquiries I have this past 12 months.
Work around is grabbing cards from the smaller lenders or credit unions if you are looking for more quantity. If you’re after the big fish from big lenders they prefer a long garden before the hunt!
Decrease the velocity 😂 I'm in the same situation. Done for awhile.
My score went down when I asked for higher credit line by 3 percent
Due to a hard inquiry?
WHAT happened?
You should apply for Guinness record for having the most number of credit cards in the world
I wouldn't come anywhere close to winning 😂 www.guinnessworldrecords.com/world-records/68577-largest-collection-of-valid-credit-cards
@@MarkReese OMFG lol. I didn’t think there are 1638 credit cards even existed 😂
You should have more.
Never head any fraudulent charges in one of these cards?
Yep, a few times over the years. But a very rare occurrence.
Gracias 🙏
✈️WOW
What’s a better name than [ridiculous] .😂😂😂
Wait are you referring yourself to the Platinum card?
No. Referrals meaning referring other people.
The (not so) subtle elephant in the room…must be nice to be able to afford all the annual fees. According to my calculation it’s $6969 dollars.
He said $5916 in the video, still a lot, but less than many TH-cam channels spend annually on content
That's like $15,000 in annual fees
He's at $5,916 in annual fees = couldn't imagine trying to juggle all of that to make sure I take advantage of all the "value" = Guessing that he makes plenty on this channel to make that yearly payment a nothing burger
I personally have about 11 open cards and I have to control myself from opening other new accounts. Credit Card addiction must be a real thing, 🤷🏻♂️
But I make sure to use all benefits, given how most cards offers the same perks. It just doesn’t make sense to own more than 20 cards
Not quite, but it's a lot! See the summary towards the end.
Wow wow wow wow wow wow
Point exactly 💯 👌
On my way to get 10x Amex platinum cards 😊
SCRA/MLA fee waivers?
Congrats on the new Home Mark! I hope to get to atleast 50 cards one day 😊
Thank you!
hi
MAXREWARDS - Best card to use by location or category:
Is this US / North America centric or does it work globally?
Not sure about that. I've only tried it in the U.S. I'll inquire further with their team.
I found out that the Best Card by Location feature is based on Yelp. So, wherever Yelp is available, the feature should work 👍
@@MarkReese Thanks.
😊
You have too much credit card give some to poor peoples f
Please don’t be gullible people. Remember Biz cards don’t report to your personal. This guy can definitely be carrying a balance.
So what that’s even better
That's correct.
53 cards ONLY $540k limit ????? Wow you are doing quite bad!
Instead of keep apply new accounts to decrease age of history but should CLI which carry very less cards with all high limit
My goal is not to get as much credit as possible.
That averages over $10,000 per card. That's not bad at all.
Hey Mark if I worked at amex as a CEO and seen all those Amex you had I would have gave you a 950 credit score if that was possible. I'm surprised Amex didn't offer you a Black Card.
Haha thanks!
Amex doesn't care how many cards of theirs you have; they care how much spend you put on them. 1 business owner who puts over 400k annually on a couple of cards is highly favored, vs a person with 10 cards who max spends 100k annually.
Amateur limits
My goal isn't to maximize the amount of credit I get, so I'm good with it.
lets be honest this can't be healthy
Why not? Just because you were told free money was worth less than earned money? Because you were told no one is responsible with debt? Because you think a thick wallet is bad for your back?
I think for most people it would not be healthy, actually pretty bad. However for those of us who can (and like) to keep track of every detail.... This is awesome and healthy too!!!!!!
Mark, congrats on the new house! It must be almost a full time job to keep track of all the cards and use each one periodically to keep the account active.
🧐🧐🧐