How to Start Your Credit Card Collecting Hobby

Why’s a one-week, fun-filled, Bahama vacation like an amazing credit card collection?

“You’ve got to have a load of money for either,” you say. No. You don’t need to be rich to have a great credit card collection.

What you do need though is a plan. They both require planning to make them successful. The same planning questions must be asked and answered for either. Where am I going? How do I get there? How much will it cost? Is it worth it? These credit card collecting questions, along with others, are answered in detail. Everything essential to building a significant credit card collection is here.

How to collect credit cards

Specialization is the key to successful credit card collecting. Concentrate your collecting efforts to a desired end. Plan a collection that can be completed. A mistake is made by trying to collect one of every credit card in existence. You’ll always lack cards. It’s more reasonable and rewarding to plan a collection that can be finished.

Specialization gives a collection the opportunity to become complete. Completeness increases the collection’s value. Its value increases because of the time and work involved to bring the parts together. A completed specialized collection is always worth more than the total of its parts.

Collecting credit cards is simple. Create a plan and follow it. First, decide on what group or type of credit cards to concentrate your energy. Then make a written list of the credit cards you desire.

Important cards first

Collect the most important cards first. Then move down the list. One way is to acquire the national credit cards first. The national credit cards are held by the greatest number of potential collectors. Collector familiarity also makes these cards a popular collecting series.

Local credit cards

Start collecting local credit cards after you’ve acquired the national ones. Local credit cards are the future national cards.

Multiple cards

Acquire multiples of the cards you’re collecting if you can. When a credit card’s design changes, you’ll be thrilled you did. Future collector needs can only be met by what today’s collector puts aside. Today’s smart collector acquires beyond what is necessary for his or her collection.

Collect certain groups of cards

There are many credit card collecting groups. It’s important to collect a group you’re interested in. This will help you follow through to the collection’s completion.

Your interests can lie in more than one group and in groups that overlap. Build a credit card collection so that you can see its completeness.

What credit cards to collect

The three major credit card collecting categories are:

1)  Single purpose

2)  T&E (travel and entertainment), and

3)  Bank cards

 Each category contains many collecting groups.

1. Single-purpose cards

Single-purpose credit cards are the largest collecting category. These cards can only be used with the issuing company. Single-purpose credit cards are typically free! Please slowly read the preceding sentence again. Think about it. An entire credit card collection can be acquired without cost. That’s what makes single-purpose cards popular. They offer endless possibilities. Collecting single-purpose cards requires relatively little effort. These cards form the foundation of most collections. Oil company, department, and clothing store credit cards are some groups in this category.

Oil company cards

Oil company cards tend to have low credit limits. This makes them easy to acquire. Start by collecting the national credit cards from your area. Then acquire the national credit cards away from your home. Some companies won’t process your credit application when you’re out of their sales area. Keep applying though, because many will.

Department store cards

Department and clothing store credit cards are an interesting situation. Most of these cards don’t have expiration dates. Since these cards don’t expire, they are generally used for a number of years. The condition of these cards deteriorates until they’re quite unsightly. The key to collecting this group is saving them in unused condition.

Quality is a must in collecting. Collectors always desire the best. They also realize the best is expensive. That being the case, acquire quantities of unused cards while they’re free. Future collectors will compete fiercely to acquire the few top-quality cards that are saved. 

Airline cards

Airline credit cards can interest the frequent flier or anyone in the airline industry. These cards carry high credit limits, and you may have to pay for them. Make sure you have good credit before tackling this group.

Airline credit cards offer an unusual opportunity. Most people don’t have them, which limits the number in existence. Combine this with the knowledge that airline cards carry expiration dates. This means that expired cards are destroyed when the new ones arrive. These facts promise that a limited number of cards are set aside for future collectors. Give this group serious consideration.

Automotive cards

Automotive cards, such as Goodyear, Firestone, and Western Auto, can be collected by automobile enthusiasts. Enthusiasts can also collect oil company credit cards. Both specialized groups standalone yet they fall under the heading of “automobile related”. Remember, completeness of a collection is in the eye of the collector.

Other single-purpose cards

There are many other single-purpose groups to collect. You can find them by thinking of your interests or hobbies. Do businesses in those fields offer credit cards? How about the places you frequently go to purchase your needs? Look constantly. Watch when you scan magazines and newspapers. You’ll soon find numerous other groups that can be collected.

2. Travel and entertainment cards

The T&E credit cards are considered the most “prestigious”. The major cards in this category are American Express, Diners Club, and Carte Blanche. They all require high credit standards. They may also charge substantial membership fees. Collectors highly regard all cards from this category.

American Express has the Platinum, Gold, and Green Cards, all of which are paid-for. American Express cards expire every two years. This makes the actual cost per card double the annual membership fee. They also have the “Black” card, or the American Express Centurion, which is an invitation-only card, and is highly prized amongst AmEx collectors.

Citicorp issues the Diners Club and Carte Blanche cards, each with an annual membership fee. Both cards carry annual expirations. Remember, cards that are issued annually help build your collection rapidly.

Annual membership fees

 An excellent opportunity exists with cards that charge annual membership fees. Many people shy away from these cards because of the expense. That’s precisely what makes these cards so good. The annual fee helps limit the number of credit cards outstanding, and people want to get their money’s worth so they use them. These cards are rarely saved unused. That’s why you should collect unused specimens.

Carefully plan and budget the dollar amount you place in these cards. Annual fees can mount up quickly.

3. Bank cards

The major bank cards in the US are Visa, MasterCard, Discover, and Choice. Bank cards can be used in various retail establishments across the country. They are general-purpose credit cards.

Visa and MasterCard are the most popular bank cards. Some are free, and some have an annual membership fee. These cards, depending on the issuing bank, generally carry one- or two-year expirations.

MasterCard and Visa were the first cards to have holograms. Holograms are three-dimensional designs that change shapes and colors when rotated in the light. Holograms, at various angles, put on a fascinating light show. A sampling of these cards is a must for any collection. Their beauty and intrigue will be enjoyed by collectors for endless generations.

Citicorp issues Choice, which typically carries a one year expiration. It isn’t as popular as MasterCard or Visa. That’s why it’s an important card and makes it a superb candidate for your collection.

You can see how simple it is to form a credit card collection. Just decide what group to collect and then make a plan. Accumulate multiples of what you’re collecting, in unused condition. Start your collection NOW, before the designs change on the credit cards you’re acquiring.

 Copyright 1986 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society