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Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Closing accounts is fun!

[ Edited ]

So I have way too many card accounts and have decided to close some down...

 

Closed Southwest Siggy Visa.

Closed Amazon Visa

 

Applied for a Chase Freedom Siggy and was approved. Moved the Southwest CL to the Freedom as well as a portion of the Amazon Visa to the Freedom to bring the total credit limit to $30k. Lost $3500 in CL but wanted to cap the Freedom at $30k.

 

Closed CapOne Cash Rewards

Closed Discover

Closed Sam's Discover

Closed Nordstrom Siggy Visa

Considering closing Walmart Discover

Closed Amex Delta

Closed Amex BCE

Closed Barclay Carnival MC

 

Brings me to my everyday cards:

 

1. USAA MC; $25k CL

2. PenFed Visa; $43k CL

3. Chase Freedom; $30k CL

4. Amex Costco; $35k CL

5. Target Visa; $4k CL

6. Wings Visa; $13k CL (8.9% APR - do not use)

7. PSECU Visa; $20k (do not use)

8. US Bank Cash +; $26k CL

9. DCU; $10k (do not use)

 

I have other "store" cards that have been run down the shredder. No plans to use them and they can auto close.

 

Nice not to have so many cards to manage or worry about. I will just let these current cards grow.

 

Since we have no debt (excluding the house) I think I have all the credit I need!

 

It is fun to talk to the reps when closing accounts. Some do really try and keep you (Discover) while others give the impression that they could care less...

 

Smiley Happy

 

Ray

** Every Card has a Job, and Every Card does its Job **

Epic Contributor
Posts: 25,538
Registered: ‎10-23-2007
0

Re: Closing accounts is fun!


RockinRay wrote:

So I have way too many card accounts and have decided to close some down...

 

Closed Southwest Siggy Visa.

Closed Amazon Visa

 

Applied for a Chase Freedom Siggy and was approved. Moved the Southwest CL to the Freedom as well as a portion of the Amazon Visa to the Freedom to bring the total credit limit to $30k. Lost $3500 in CL but wanted to cap the Freedom at $30k.

 

Closed CapOne Cash Rewards

Closed Discover

Closed Sam's Discover

Closed Nordstrom Siggy Visa

Considering closing Walmart Discover

Closed Amex Delta

Closed Amex BCE

Closed Barclay Carnival MC

 

Brings me to my everyday cards:

 

1. USAA MC; $25k CL

2. PenFed Visa; $43k CL

3. Chase Freedom; $30k CL

4. Amex Costco; $35k CL

5. Target Visa; $4k CL

6. Wings Visa; $13k CL (8.9% APR - do not use)

7. PSECU Visa; $20k (do not use)

8. US Bank Cash +; $26k CL

 

I have other "store" cards that have been run down the shredder. No plans to use them and they can auto close.

 

Nice not to have so many cards to manage or worry about. I will just let these current cards grow.

 

Since we have no debt (excluding the house) I think I have all the credit I need!

 

It is fun to talk to the reps when closing accounts. Some do really try and keep you (Discover) while others give the impression that they could care less...

 

Smiley Happy

 


Wow I was starting to scream in horror as I was reading your close list and all the CL's I assumed... but then I hit your open list and I had NO idea even in my wildest dreams of my head on the closed lists the kind of CL's you still would be leaving open!!

CONGRATS... you look like you can do whatever you want and WIN!

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Frequent Contributor
Posts: 267
Registered: ‎06-28-2013
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Re: Closing accounts is fun!

I got a house rule with my wife of just 1 cc, but I got limited income, at those CL I doubt you got that problem. I do close accounts and it feels great, when I don't have to deal with them again. I value CS as top priority, when you got a problem you need it solve, so that beeing said you might factor that in when closing and keep whoever gave you the less headaches, and shred the ones that gave you the most.

 

Congrats on your closing, is a smart move, quantity does not mean quality.




Gardening until 03/11/15 last mistake ,,, 07/05/2013

Barclay FICO 610
Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Closing accounts is fun!

Yes it was time to "weed" the garden so to speak.

 

We were up to total of $324k in open credit and that is just too much.

 

Of couse I did suggest to my wife that we should go and get max cash advances on all of them, then move to some nice island south of Florida - but - she did not go for that!

 

Smiley Happy

 

I have some other cards like Ben Bridge Jewelers that I do not use, but will just let them stay open until they auto close. The Ben Bridge came in handy when I bought my wife her new Rolex. Took advantage of a 6 month plan that they were offering at the time.

 

 

Ray

** Every Card has a Job, and Every Card does its Job **

Super Contributor
Posts: 6,655
Registered: ‎05-23-2009
0

Re: Closing accounts is fun!

Ray,

 

It is nice to close some of your unused cards. Your score might lower for a short time. It hard to manage too many accounts.

 

 

Ron.

Blogger
Posts: 3,360
Registered: ‎10-19-2012
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Re: Closing accounts is fun!

You closed BCE and Discover? What card do you use for grocery and online shopping? Smiley Happy

Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Closing accounts is fun!

Hey Ron,

 

I am sure it will for a short period of time. But both my wife and I are just under 800 (I am 817 on Walmart TU) now so that drop should not hurt anything. And we just closed on a refi of the house this past Monday so from a credit perspective, there is nothing that we need...

 

It was just time to clean house a bit. We just had too many open accounts.

Ray

** Every Card has a Job, and Every Card does its Job **

Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Closing accounts is fun!


HiLine wrote:

You closed BCE and Discover? What card do you use for grocery and online shopping? Smiley Happy


Since my Wife works for Target Corporate, we get the groceries at Target.  Smiley Happy

 

We also get stuff at Costco...

 

I am old school and do not online shop very much.

Ray

** Every Card has a Job, and Every Card does its Job **

Valued Contributor
Posts: 1,055
Registered: ‎02-03-2009
0

Re: Closing accounts is fun!

I will probably look at closing/combining some too. However, my credit limits are NOWHERE near yours, in most cases. I know I have a few cards I really NEVER use. Gotta put some thought into it first.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (4), Chase (6), Nordstrom Visa,US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Walmart Discover, Sam's MC, Cabela's Visa, Cap One QS, BOA (2), BMW Visa, Comenity Visa/MC (3), Ebates Visa Siggy, 5/3 RLR MC, Diner's Club MC; FNBO Amex; A few store cards.

Current Scores (7/2015): EQ My Fico: 789; TU MyFico: 777; EX (My Fico): 764
Frequent Contributor
Posts: 267
Registered: ‎06-28-2013
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Re: Closing accounts is fun!

Why Florida? you should have go for Italy or England, and let them serve you there...




Gardening until 03/11/15 last mistake ,,, 07/05/2013

Barclay FICO 610
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