Podcast Summary: NerdWallet Smart Money — "Master Multiple Credit Cards Without Tanking Your Credit Score (Plus: Giving Tuesday Tips)"

Date: December 1, 2025
Hosts: Elizabeth Ayola, Sean Pyles, Erin Hurd (guest: Grace Nicolette)

Overview

This episode tackles two central topics:

1. Charitable Giving with Intention — Giving Tuesday insights with philanthropy expert Grace Nicolette.
2. Navigating Multiple Credit Cards Without Hurting Your Credit — Journalist and travel card specialist Erin Hurd discusses how to manage credit cards strategically for rewards, points, and strong credit.

Listeners receive practical, research-backed advice for giving wisely and maximizing credit card benefits while protecting their financial health.

Segment 1: Giving Tuesday — Purposeful, Effective Charitable Giving

(01:00–17:14)

What is Giving Tuesday? (02:00)

• Grace Nicolette: “Giving Tuesday is a global movement… a great opportunity to band together and to give. And it might be a great way that people can be teed up to think about giving if otherwise, they might not think about it.” (02:05)
• Started 20–25 years ago as a deliberate response to consumer-heavy holidays like Black Friday and Cyber Monday.

Why Giving Should Be Intentional (03:07)

• Align giving with your values and budget for charitable contributions just as you would for purchases.
• Grace Nicolette: “It’s really important to actually be very intentional about our giving… setting goals and meeting those goals.” (03:07)

Planning Charitable Contributions (03:39)

• Give year-round, not just end-of-year or for tax reasons.
• Grace: “If you talk to any nonprofit leaders, they would rather that you do it and spread it out throughout the year.” (04:21)
• Have open conversations, get family or financial advisors involved.

Trends in Giving & Ways to Make an Impact (05:01)

• Community & collaborative giving is on the rise through giving circles and group donations.
• High-profile gifts (e.g., Mackenzie Scott to HBCUs) inspire more strategic, impactful choices.
• Get involved deeply for more meaningful engagement.

Choosing Where and How Much to Give (06:06, 14:50)

• Don’t be intimidated by large organizations; find causes you relate to for effective, values-aligned giving.
• Do research—read nonprofit reports, reach out for transparency, and visit organizations if considering a substantial gift.
• Grace Nicolette: “Do find one that really aligns with your values… They would welcome that.” (06:29)

Red Flags and Evaluation Tips (07:24)

• Verify nonprofits are in good standing with the IRS and free from legal troubles.
• Avoid relying too heavily on administrative overhead as the sole indicator:
  • “Attracting and keeping talent… is really important… you simply cannot tell anything by an administrative ratio like that.” — Grace (08:18)
• Understand that nonprofit sustainability comes from donors, not just business models.

Tax Benefits of Charitable Giving (09:21–10:52)

• Deductions allowed up to 60% of adjusted gross income (may vary based on type of organization).
• U.S. system uniquely incentivizes giving with tax deductions—other countries might not.

The Role of Local, Grassroots, and Mutual Aid (11:38)

• Community-based giving is vital during economic downturns and in the wake of government funding shortfalls.
• “There really is a way to help people with some of their most basic needs… Just get started.” — Grace (12:42)

Overcoming Overwhelm When Choosing Where to Give (13:13)

• “We can’t save everyone… But we still can play our part and it is important that we do.” — Grace (13:29)
• Start where you feel moved—personal connection is the best entry point.

Personal Giving Journeys (14:28–17:10)

• Elizabeth shares she donates in response to emotional stories or documentaries, always aligning giving with personal values.
• Grace now focuses her donations more deeply on fewer organizations (inspired by Mackenzie Scott’s approach), especially those addressing basic needs like food insecurity.
• Giving as a family or with friends adds meaning:
  • “Doing it with other people can be really special.” — Grace Nicolette (16:41)

Segment 2: Managing Multiple Credit Cards & Protecting Your Score

(18:57–34:23)

Listener Question: Can Having Many Credit Cards Hurt Your Score? (18:57)

• Eileen: Wonders about the impact of holding (and cycling through) numerous credit cards, and whether chasing points can be harmful.

Real-Life Example: The Credit Card “Portfolio” (19:49)

• Erin Hurd: Has 27 cards herself, husband 24; total of 51 between them.
  • “I keep most of my credit cards in a baseball binder… I love my cards like they’re my babies.” (19:49)
• Built up slowly over years, not through rapid churn.

Do Business Credit Cards Affect Credit? (20:39)

• Business cards often don't appear on personal credit reports—minimal effect on personal credit score if managed responsibly.

Diminishing Returns? (21:20)

• Card issuers impose rules to prevent excessive churning; there are restrictions on repeat bonuses or opening too many of the same “family” card type.
• But still, plenty of opportunities for most consumers.

How Multiple Cards Impact Credit Score (21:48)

• Number of cards itself doesn’t matter as much as:
  • On-time payments
  • Credit utilization (the ratio of used credit to total credit available)
• Temporary dips from hard inquiries are minor and short-lived.
• Erin Hurd: “My credit score right now is well above 800, and that’s considered an excellent score… The more cards you have, the more available credit you have. And that means that opening new cards can actually help improve your credit utilization.” (22:22)

Key Credit Card Management Tips

• Never carry a balance: “The interest that you would pay… would far outweigh the rewards.” — Erin (23:08)
• Pay in full each month.
• Open cards slowly and with intent.

Churning: Strategic or Risky? (24:02)

• “Churning”—quickly opening, using, closing, and repeating with new cards—is less viable due to issuer policies.
• Never close a card before the one-year mark or else you risk penalty and clawbacks of points.
  • “That’s just the mark of a bad relationship with a credit card issuer.” — Erin (25:25)

Should You Close or Downgrade a Card? (26:01)

• Closing a card decreases your credit age and available credit (can hurt score).
• No-fee cards: Keep open and use occasionally.
• Annual fee cards: Consider downgrading to a no-fee version to maintain account history.
• Call issuers to product-change or downgrade.

Evaluating Which Cards to Keep (27:07)

• Evaluate all benefits, not just rewards rates:
  • Airline cards often offer priority boarding, free checked bags.
  • Hotel cards may include annual night certificates.

How Many Is Too Many? Organization Tips (28:37)

• Personal threshold matters: “It can become overwhelming pretty quickly...don’t go from zero to a hundred all in a day.” — Erin (28:37)
• Add slowly; consider cards from same issuer for easier account management.
• Sync card due dates, use autopay, and set up reminders.

Tools for Management (30:06)

• Erin uses spreadsheets and recommends apps:
  • NerdWallet app
  • Award Wallet (tracks perks, benefits, loyalty programs)

Daily Use vs. "Sock Drawer" Cards (30:39–31:47)

• Erin uses certain cards for everyday purchases, and keeps others in reserve ("sock drawer") for travel perks.

Digital Wallets? (31:47)

• Only a few cards stored digitally—too many is unwieldy.

Surprises & Lessons for Beginners (32:07)

• Erin’s “fearlessness” comes from building confidence over time:
  • Minor score dips from inquiries are manageable.
  • Priority is not chasing a numerical score, but instead ensuring readiness when major loan needs arise (house, car).

Core Advice for Aspiring Card Maximizers (33:20)

• Never carry a balance—ever.
• Don’t pursue this strategy if tempted to overspend.
• “If you’ve had one card you’ve used for many years, just considering adding one new card this year, earning a nice bonus… just one card at a time.” — Erin (34:11)

Notable Quotes & Timestamps

• “Setting goals and meeting those goals.”
  — Grace Nicolette (03:07)

• “Donors are often really worried about whether or not they can make an impact… I’m telling you right now, they will go the distance.”
  — Grace Nicolette (12:42)

• “The more credit cards you have, the more available credit you have. And that means that opening new cards can actually help improve your credit utilization.”
  — Erin Hurd (22:22)

• “If earning lots of rewards is your goal, it is imperative, like we talked about, that you do not carry a balance—full stop.”
  — Erin Hurd (33:20)

Actionable Takeaways

• For Givers:

  • Be intentional—align giving with personal values, research organizations, and don’t be afraid to start small or local.
  • Don’t get stuck on administrative overhead percentages; look for legitimacy and impact.
  • Involve family or friends in your giving for extra fulfillment.

• For Credit Card Users:

  • More cards can help your credit—if managed responsibly.
  • Always pay in full, never close cards pre-maturely, and keep track of rewards and annual fees.
  • Use tools and apps to manage spending, due dates, and perks.
  • Add new cards slowly and have a system to prevent missed payments.

This episode encourages wise, intentional financial moves—both in charitable giving and advanced credit card strategy—offering real-world experiences and research-backed guidance for smarter money decisions.