CC Purge

[Anonymous]

I decided I've got way too many CC and time to purge a bit. I started this year out with ONE card - CapOne Platinum with $16k limit - yes I requested to cut it back to $8k. This was before I found myFICO and realized that the guy making all his money on people buying his books and videos by saying to eliminate all your credit was wrong. So I had as many as 14 new cards this year alone. 

The purge began when I got the Sallie Mae WMC on 7/2 - 13.9% APR after the 0% APR period is over. That means there was no need for the Barclay Cash Rewards card with a 22.9% APR. Barclays allowed me to move the CL to Sallie Mae, so I did and it's got a $9k limit now. This will be one of my top cards once I get it in the mail.

The other card was one I'm not sure why I even applied for in the first place. It was the Chase Amazon card. I moved all of the CL and moved it over to my Chase Freedom which now has a $7k CL. It was pointed out today that the Chase Amazon only gives 3% on Amazon where other cards are 5%. 

I'm glad I was able to at least transfer the CL on both cards. I feel confident I made the right decision to get rid of the two cards I really have no use for. 

[Anonymous]

Looks like wise decisions to close those cards out.  I'll be doing some of the same in the coming months.

[Anonymous]

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@Anonymous wrote:

Looks like wise decisions to close those cards out.  I'll be doing some of the same in the coming months.

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You have some excellent cards. Any idea what you'll purge?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Looks like wise decisions to close those cards out.  I'll be doing some of the same in the coming months.

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You have some excellent cards. Any idea what you'll purge?

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Well I'll first start with my American Airlnes cards.  Have 3 of them , 2 from Citi and one from Barclays, so that's overlap that I don't need.   I will probably get rid of the two Citis and keep the Barclays and consolidate my Citi limits into one card.  That is if Citi will let me but I'm hopeful. I also have to decide whether to keep both the Amex Platinum card and the PRG.  The PRG is a better card but I have the Platinum to have access to their Centurion Lounges and I would hate to give that up.  Just need to decide if the AF is worth it

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Looks like wise decisions to close those cards out.  I'll be doing some of the same in the coming months.

---

You have some excellent cards. Any idea what you'll purge?

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Well I'll first start with my American Airlnes cards.  Have 3 of them , 2 from Citi and one from Barclays, so that's overlap that I don't need.   I will probably get rid of the two Citis and keep the Barclays and consolidate my Citi limits into one card.  That is if Citi will let me but I'm hopeful. I also have to decide whether to keep both the Amex Platinum card and the PRG.  The PRG is a better card but I have the Platinum to have access to their Centurion Lounges and I would hate to give that up.  Just need to decide if the AF is worth it

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Good luck with the purges. If you can get the banks to transfer the CLs, then go for it. Barclays had no problem moving CL over and neither did Chase. Don't know much about Citi other than they flat out turned me down for the DoubleCash recently so I'm over them.