Which Cards are You Closing in 2014?

[cv91915]

 

 

Lets see:

 

1) Shell Drive for 5 - waste of time and wallet space will use AMEX for gas

 

2) Cap 1 Spark - no need for it anymore plus rate is too high

 

3) maybe - Dell financial services - but need to see what my new discover cards limit is. really hate to keep dell open but its been open since 2000 with a $5500 credit limit. too bad interest rate is 24.99

 

Conventional wisdom generally advises against closing anything with no AF.

 

 

YMMV. I've closed plenty (e.g., USAA Amex 30k limit) with no AF. But then I've usually replaced each one I've closed with 2 or 3 new ones

 

 

Yes, not everything I do is conventional either. I hope that 13-year Dell account stays open though.

[BDK]

 

 

I have over 300k UA miles but no time to use them and 50-100k miles in other programs.

 

HUGE UA devaluation coming Feb 1st especially affecting permium seats on *partners.

 

http://milevalue.com/burn-united-miles-to-southeast-asia-now-before-award-prices-skyrocket-next-month/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+milevalue+%28milevalue.com%29

 

 

yup...and we're booking a holiday in C or F this summer before the 2/1 change. probably CHC

 

CHC, #jealous

 

I'm going to SEA and Australia this year, but probably not going to make it to NZ just yet. Have fun!

[hegemony]

 

 

 

I have over 300k UA miles but no time to use them and 50-100k miles in other programs.

 

HUGE UA devaluation coming Feb 1st especially affecting permium seats on *partners.

 

http://milevalue.com/burn-united-miles-to-southeast-asia-now-before-award-prices-skyrocket-next-month/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+milevalue+%28milevalue.com%29

 

 

yup...and we're booking a holiday in C or F this summer before the 2/1 change. probably CHC

 

CHC, #jealous

 

I'm going to SEA and Australia this year, but probably not going to make it to NZ just yet. Have fun!

 

 

CHC is beautiful; if I could have my job there I'd move in a heartbeat.

[bkchild78]

I am closing my last 2 subprime cards. I now have 4 prime cards, so I no longer need these:

 

Amex Zync: I have the one with the $200 hard limit. I am just waiting til I can empty out my membership rewards account and then it's gone. I think this card is keeping me from getting prime offers from Amex.

 

Capital One Rewards: This card has a $1000 limit. It only provides 1.25% cash back. I plan to cancel right before the annual fee posts.

What is Amex Zync?

Edited March 18, 2014 by bkchild78

[cashnocredit]

I'm closing my nearly useless GreenDot prepaid debit card. I got it to make small but infrequent purchases to minimize fraud risk on my credit cards but it seems that GreenDot debit cards are not accepted at enough places to be a PITA.

[cv91915]

I'm closing my nearly useless GreenDot prepaid debit card. I got it to make small but infrequent purchases to minimize fraud risk on my credit cards but it seems that GreenDot debit cards are not accepted at enough places to be a PITA.

 

No PIN on those? Is it a V or MC?

 

Get a Bluebird. It has other, ahem, benefits.

[amandal0514]

My brand new Cap 1 Platinum secured card that is so new it hasn't even started reporting yet. $251 and they're holding $100 of my money and I've read they will never unsecure it. Oh and a $29 annual fee.

Edited March 22, 2014 by amandal0514

[cv91915]

My brand new Cap 1 Platinum secured card that is so new it hasn't even started reporting yet. $251 and they're holding $100 of my money and I've read they will never unsecure it. Oh and a $29 annual fee.

Please tell me that you didn't find out what a secured card was after you sent them the money. What were you expecting?

[amandal0514]

 

My brand new Cap 1 Platinum secured card that is so new it hasn't even started reporting yet. $251 and they're holding $100 of my money and I've read they will never unsecure it. Oh and a $29 annual fee.

Please tell me that you didn't find out what a secured card was after you sent them the money. What were you expecting?

LOL no. I'm not a ding dong.

 

It was my first new credit card and I knew what I was getting into. And then 2 big baddies fell off TU. I still have 2 old utility charge offs and I didn't find out until last week that my TU was 759 even with them so I applied and got all the cards listed in my siggy.

[SmellyMonkey]

In the end of this year I will need to decide what to do with my Delta AmEX. Will it worth the AF? I will take the year to find out. If not, I will convert it to another AmEx.

[cv91915]

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

[hunting8171]

I have a capital one secured credit card $ 200.00 limit.. its 5 years old its time to pull the plug. its done what I need it to do.

[CTSMOM01]

Capital One secured card with a $200 limit. I've had it since 2011 time to move on.

[Chupacabras]

My mistake with converting the HHonors card was I didn't wait one year + one day. Once I did that, painlessly converted to a Prestige card. Already closed my SPG.

[Star33]

Closing:

KingSize

OneStopPlus.com

J.Crew

Express Next

Buckle

Victoria Secret

 

Got these after Bkrpt7 and never used in over a year.

 

 

Sent from my SM-N900P using Tapatalk

[BDK]

Closing:

KingSize

OneStopPlus.com

J.Crew

Express Next

Buckle

Victoria Secret

 

Got these after Bkrpt7 and never used in over a year.

[Fuerza]

Closed my Citi AA Ex, don't see the point in a points card right now.

 

Amex SPG is next when I can transfer the limit to Blue Cash & BCP.

 

Amex PRG will also get axed when I get my $30k spending bonus.

 

 

Sent from my iPhone using Tapatalk

[cv91915]

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

 

 

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

[mendelssohn]

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

 

 

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

 

http://creditboards.com/forums/index.php?showtopic=524538&hl=

[cv91915]

 

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

 

 

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

 

http://creditboards.com/forums/index.php?showtopic=524538&hl=

 

 

OMG, thank you. That thing is IMPOSSIBLE to find.

[Cappy]

 

 

 

 

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

http://creditboards.com/forums/index.php?showtopic=524538&hl=

Finally transferred it to US Airways. about time.

 

Now your down to 3 Barclays?

[cv91915]

 

 

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

http://creditboards.com/forums/index.php?showtopic=524538&hl=

Finally transferred it to US Airways. about time.

 

Now your down to 3 Barclays?

 

 

Two Barclays. Both are US Airways cards. I'm closing the one without the 10,000-mile annual bonus when it reaches one year of age. Transferring the limit first, of course.

[Cappy]

 

 

 

 

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

http://creditboards.com/forums/index.php?showtopic=524538&hl=

Finally transferred it to US Airways. about time.

 

Now your down to 3 Barclays?

Two Barclays. Both are US Airways cards. I'm closing the one without the 10,000-mile annual bonus when it reaches one year of age. Transferring the limit first, of course.

Great to consolidate.

 

How much will be your single USAIR card after combining both limits and canceling USAIR card with Bonus?

[cv91915]

 

 

 

 

 

 

There was some discussion about this in a couple of other threads yesterday... which got me thinking about my own hit list. I'm at 24 credit cards right now, and while not completely unmanageable, there is unquestionably some dead weight that needs to go.

 

Here is my list, and I'll come back and update this if and when I actually follow through. For me, setting certain goals publicly introduces an element of accountability to follow through.

 

1 - Wells Fargo Cash Back Visa. As far as I've come, this card will not grow with me. The limit is stuck at $1,000 until I give up a hard pull on Experian, which won't happen until the 12th day of never. I've tried CSRs, branch managers and EO contacts, and I get the same answer. I'm going to put some final spending on this card to get it over the first and only $25 reward redemption threshold (I'm at $24.xx) and then it's curtains for this steaming turd. This card is still a turd that I love to hate.

 

2 - Capital One Platinum. This was my only card for a while, so it served its purpose, but even with clean reports and a growing stable of thoroughbred cards even the Capital One EO couldn't breathe enough life into this card to make it worth keeping. Sure, they bumped my CL from $1,750 to $5,000, but that moved this piece of crap from the 9th lowest limit (of 10 non-store cards at the time) to tied for 7th lowest. They also would only refund one year's annual fee, and refused to PC the card to anything useful. The EO also took six weeks to reply to my initial contact, and the guy that called me to discuss my request was an a-hole. Annual fee comes up again in early summer 2014, then I will chocolate-can this thing for good. EO PCd this to a no-AF QS and gave me a 2x CLI to $10,000. Whatever. Still lame, but without the AF this card stays open for age purposes.

 

3 - American Express Gold Card. I was delighted to get invited to the "real" Amex party last year when I received a pre-approved offer in the mail for an unsecured Gold Card, probably the result of having successfully managed a secured Amex Gold Card from Centurion Bank for a while prior to that (I don't see that product discussed much, if at all, here, and I wonder if they even still offer it. It was secured by a CD at Centurion Bank). I obviously took the offer for the unsecured Amex, but this card is probably the least useful American Express card when you consider its $125 annual fee. I like my other three Amices just fine, and so far all of the others offer value that exceeds their respective annual fees, but this Gold Card is a head-scratcher. The annual fee will pop up in February. I will keep the card if they offer me a retention bonus of MR points with value that exceeds the AF, but given how little spending I've put through the card I'm not optimistic. PCd to a Senior Green with no MR @ $35 AF (Amex offers in the next 12 months will more than cover this AF)

 

4 - Local CU Secured Card. I've drawn down my deposit from $13,000 to $2,600 (which lowered my CL from $10,000 to $2,000), but I hate having even that amount of money tied up unnecessarily. I still get long-forgotten recurring charges that pop up from time to time, and I hate having to constantly monitor an account I no longer use. Plus, I have zero loyalty to this CU, even though this was the place that helped me get back on track. The branch person I worked with initially gave me so much shockingly half-flowers information about building credit, but she was so authoritative in her delivery style you really wanted to believe her. Follow her to the promised land. Ask for more Kool-Aid. CLOSED.

 

I have made final decisions on three of my four candidates for closure in 2014. Updates in red.

I just closed my Barclays Rewards MasterCard (after transferring the limit to one of my US Air cards). The RMC just turned two years old, but it had outlived its usefulness 19 months ago.

 

If I could find my own "combining limits" thread back, I'd update that one too.

http://creditboards.com/forums/index.php?showtopic=524538&hl=

Finally transferred it to US Airways. about time.

 

Now your down to 3 Barclays?

Two Barclays. Both are US Airways cards. I'm closing the one without the 10,000-mile annual bonus when it reaches one year of age. Transferring the limit first, of course.

Great to consolidate.

 

How much will be your single USAIR card after combining both limits and canceling USAIR card with Bonus?

 

 

$31,800.

[cv91915]

I'm also now considering closing my Citi Hilton HHonors Reserve card (the AF just hit). I was originally going to call the retention department and see if they'd waive the AF.... but now I'm not sure. The card has no ongoing benefit to me, and is redundant to my Amex Hilton Sourpuss.

 

I had the Reserve card at $35,000, but they stole half the limit for my new AA Executive card when it was approved, or that thing would have had a useless $5k limit. I hate the idea of losing $17,500 in credit, and these bastards won't reallocate limits between existing cards.

Edited July 1, 2014 by cv91915