Closing Cards is actually kind of fun!

[Anonymous]

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@bodyboy1 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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  >  hello jaylau 17..   just looking At your signature...   can you please tell me the WEMC U HAVE>? and the limit>?   & the World Mastercard you have>?   & the limit?

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He has an AWESOME lineup of cards for sure!!!

Kudos to the OP!

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You must mean the OP. Your lineup is better than mine!

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>  JAYLAU17   > are those typos (cl)  or ARE those not real WORLD ELITE/WORLD MASTERCARDS)?    my question is i don't see more than $5k for those cards. (>?)

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They are not typos. You make an interesting point about being "real" WMC/WEMCs.

My $2700 Sallie Mae WMC has a benefit that typifies "real" WMCs in that it reports as being a "Flexible Spending" card. The vast majority of Sallie Mae MasterCards were issued as World MasterCards, regardless of limit. There are a few people that report having Platinums, however.

My Quicksilver WMC and Double Cash WEMC do not report as being "Flexible Spending" cards, however they do say "World" and "World Elite" (respectively) on them. There has been a lot of talk lately of the Double Cash being issued almost exclusively as WEMCs for the most recent of approvals (my Double Cash is barely two months old) but that they generally haven't been reporting as "Flexible Spending" as one would expect them to if they were "real" WEMCs. I suspect Citi is issuing these cards as WEMCs so they can finagle a profit by collecting an even higher swipe fee to offset the relatively high rewards rate of the card.

EDIT: 
Oh, and to answer your question more generally, both Visa and MasterCard (but especially MasterCard) have been playing a little more "fast and loose" lately with what limits qualify for their premium tiers. To be sure, the $5000 minimum limit is still strictly enforced by some banks (Chase, I'm looking at you!), but many have relaxed their standards somewhat (Citi and Barclays come to mind). As I hinted above, I think this is at least partially because banks like to take advantage of the higher swipe fee that they collect from their higher-tiered cards.

[bodyboy1]

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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@Creditaddict wrote:

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

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I think this post deserves more kudos than it has!

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  >  hello jaylau 17..   just looking At your signature...   can you please tell me the WEMC U HAVE>? and the limit>?   & the World Mastercard you have>?   & the limit?

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I assume you are on the mobile version that can't see pictures?

I have a Double Cash WEMC ($1700 limit, lol), a Sallie Mae WMC ($2700), and a Quicksilver WMC ($8500).

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@> sorry for the 2nd post asking  Now i'm even more confused..   God bless u!   i'm not even gonna ask!  ok..  wait a min!>  u have a double cash WEMC>/? HOW  !>?  how is it a WEMC>?  @$1700

[Anonymous]

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@bodyboy1 wrote:

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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@Creditaddict wrote:

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

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I think this post deserves more kudos than it has!

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  >  hello jaylau 17..   just looking At your signature...   can you please tell me the WEMC U HAVE>? and the limit>?   & the World Mastercard you have>?   & the limit?

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I assume you are on the mobile version that can't see pictures?

I have a Double Cash WEMC ($1700 limit, lol), a Sallie Mae WMC ($2700), and a Quicksilver WMC ($8500).

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@> sorry for the 2nd post asking  Now i'm even more confused..   God bless u!   i'm not even gonna ask!  ok..  wait a min!>  u have a double cash WEMC>/? HOW  !>?  how is it a WEMC>?  @$1700

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I do. To be honest, it surprised me, too. But it's become actually very common with DC approvals in the last few months. See the following thread:

http://ficoforums.myfico.com/t5/Credit-Cards/Citibank-Double-Cash-Surprise-WEMC/td-p/3940954

Keep in mind that banks generally like issuing these higher-tier cards. The swipe fees on these cards are much, much higher on these cards to offset the cost of those extra WEMC/WMC/VS features that not very many people use.

[BUN]

You are so adorable! Good job killer!! 

[BUN]

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@fury1995 wrote:

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@Creditaddict wrote:

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@Creditaddict wrote:

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

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Kohls $300

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Actually, this is a better challenge. I think you will find you like this much better.

Instead of grinding the useless cards to the $5K threshold, dumping them gives you a fresher report to stare at.

Then work on the cards you like. Set a new threshold (limit) and work on getting all of those there.

If any of those don't work for your new plan, dump those too and work on the ones that are left.

It's a much more rewarding plan.

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This is so clever and well spoken. Thanks, what a great plan!

[bodyboy1]

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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@Creditaddict wrote:

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

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I think this post deserves more kudos than it has!

---

  >  hello jaylau 17..   just looking At your signature...   can you please tell me the WEMC U HAVE>? and the limit>?   & the World Mastercard you have>?   & the limit?

---

I assume you are on the mobile version that can't see pictures?

I have a Double Cash WEMC ($1700 limit, lol), a Sallie Mae WMC ($2700), and a Quicksilver WMC ($8500).

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@> sorry for the 2nd post asking  Now i'm even more confused..   God bless u!   i'm not even gonna ask!  ok..  wait a min!>  u have a double cash WEMC>/? HOW  !>?  how is it a WEMC>?  @$1700

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I do. To be honest, it surprised me, too. But it's become actually very common with DC approvals in the last few months. See the following thread:

http://ficoforums.myfico.com/t5/Credit-Cards/Citibank-Double-Cash-Surprise-WEMC/td-p/3940954

Keep in mind that banks generally like issuing these higher-tier cards. The swipe fees on these cards are much, much higher on these cards to offset the cost of those extra WEMC/WMC/VS features that not very many people use.

>   thanks for responding..    thanks for the info <>   because  i almost had to Work Magic to get my worldcard..  just short of getting on my knees & begging! <> i'm not kidding!  (BTW)  i'm well versed on the tiers & the swipe fees.  

[bodyboy1]

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@bodyboy1 wrote:

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@Anonymous wrote:

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  >  hello jaylau 17..   just looking At your signature...   can you please tell me the WEMC U HAVE>? and the limit>?   & the World Mastercard you have>?   & the limit?

---

He has an AWESOME lineup of cards for sure!!!

Kudos to the OP!

---

You must mean the OP. Your lineup is better than mine!

---

>  JAYLAU17   > are those typos (cl)  or ARE those not real WORLD ELITE/WORLD MASTERCARDS)?    my question is i don't see more than $5k for those cards. (>?)

---

They are not typos. You make an interesting point about being "real" WMC/WEMCs.

My $2700 Sallie Mae WMC has a benefit that typifies "real" WMCs in that it reports as being a "Flexible Spending" card. The vast majority of Sallie Mae MasterCards were issued as World MasterCards, regardless of limit. There are a few people that report having Platinums, however.

My Quicksilver WMC and Double Cash WEMC do not report as being "Flexible Spending" cards, however they do say "World" and "World Elite" (respectively) on them. There has been a lot of talk lately of the Double Cash being issued almost exclusively as WEMCs for the most recent of approvals (my Double Cash is barely two months old) but that they generally haven't been reporting as "Flexible Spending" as one would expect them to if they were "real" WEMCs. I suspect Citi is issuing these cards as WEMCs so they can finagle a profit by collecting an even higher swipe fee to offset the relatively high rewards rate of the card.

EDIT: 
Oh, and to answer your question more generally, both Visa and MasterCard (but especially MasterCard) have been playing a little more "fast and loose" lately with what limits qualify for their premium tiers. To be sure, the $5000 minimum limit is still strictly enforced by some banks (Chase, I'm looking at you!), but many have relaxed their standards somewhat (Citi and Barclays come to mind). As I hinted above, I think this is at least partially because banks like to take advantage of the higher swipe fee that they collect from their higher-tiered cards.

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>  THANKS     

[woodyman100]

Reading these posts about closing really got me to thinking about closing a few.

at the beginning of the year I said I wanted to get all my cards to 10k by the end of the year. I could have done it, (except for Diners) if I hadn't kept applying.

I closed:

Dicks 1800

Wayfair 3900

Gander Mountain 3000

True Value 3000

Barneys 5250

Bealls (DW) 1600

AA store (DW) 2000

Zappos (DW) 5000 moved to her IHG

Freedom (DW) 9500 moved to her CSP

I will soon cancel my

CSP 12000 and move CL to Marriott

Wyndham 7259 and move to Ring

Amex Plat

This leaves my DW with 123900 and myself with 215500

i had been bumping up close to 300k early in the year and did some pruning and then went for more. 

Lets hope i can can garden for longer than the week long streak I'm on right now.

Add a CU LOC to my siggy and that's what is left for me personally

[Anonymous]

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@BUN wrote:

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Actually, this is a better challenge. I think you will find you like this much better.

Instead of grinding the useless cards to the $5K threshold, dumping them gives you a fresher report to stare at.

Then work on the cards you like. Set a new threshold (limit) and work on getting all of those there.

If any of those don't work for your new plan, dump those too and work on the ones that are left.

It's a much more rewarding plan.

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Totally agree. I'm not bothering to keep low limit Visas or Mastercards under 5k either and it feels GREAT!

[traveler2005]

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@Creditaddict wrote:

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

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   I have closed a couple of very low limit cards, lane bryant 1500 and TJ maxx 400  could never get CLI, I am seriously considering closing my target card it has a huge limit of 200. I am sure there will be more to come.