I have done something like this for my cards, except now that I have gone through the alphabet once, I have 14 collections. Now, when I make a new collection, it is hard to see if I am adding duplicates.
I believe multiple collections are the way to go for now, but they become difficult to manage. What I'd like to see on this site are "Labels" so we know where all our cards are physiucally located (boxes, binders, etc.) and have a single collection. That way, it is simpler to add cards without adding doubles or throwing our cards into one big digital pile without having to go back through to move them around, which takes a lot of time...and I have done it. And that's the way it'll stay until I se some lables.