Originally Posted by
biggestbopper
Is it excessive? Heck no! I have lots more Visa and MC card gotten for bonuses.
But why keep them open? Are you paying annual fees on any of them? If so, what is the true cost of those "free" miles?
Originally Posted by
biggestbopper
PS What is advantage to card company, as asked above? Overall, not much, but system is not rational.
Actually, you ran into the benefit like a brick wall. By preventing folks from opening and holding a bunch of cards they dissuade the churning. Folks who actually have use for cards will get the couple they need and be done with it. Folks who churn will have way more than that and are decidedly unprofitable for the CC companies. So why not make it harder to churn? Seems like smart business practice to me.