I tend to agree. For my spending, aside from using a branded card for travel-specific expenses, the optimal set of "everyday spending" cards is 4, plus up to 2 rotating-bonus-category cards. Can't believe it would be much different for anyone else.

It sounds like he follows targeted discounts for retailer-specific cards, etc. Just too much work for me to keep track of it. And right now, I'm not going to eat a hard pull so I can get every department store card. It would take some serious discounts to make up for losing a 50k+ air mile/point signup bonus.