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Dell Preferred *CLOSED*

Valued Contributor

Dell Preferred *CLOSED*

Been looking to close a TL or two since there are a couple of cards in my account that I absolutely don't use.  This one is the easiest one as I've used it once since I opened it to buy a computer and the second time was to buy a USB drive.  

 

$3K limit and since I just got a $5K increase on one of my other cards, it effectively will not impact my utilization.  

 

Now, to find card #2 to axe.  

 

The remaining portfolio:

 

UIECU IlliniCard Rewards Visa $26K (12.9%)

PSECU Visa/PSL Combo $20K (9.9/12.9%)

Alliant Platinum Rewards Visa $17K (12.24%) 

Barclaycard Rewards MC $12.5K (12.99%)

Nordstrom Visa signature $12K (10.9%/14.9%)

BMW Card Visa $10K (16.24%)

Chase United MileagePlus Club Visa Signature $8K (15.24%)

State Farm Platinum Rewards Visa $6K (18.24%)

Macy's Platinum Store Card $4.4K (24.5%)

Discover IT $4K (0% till 5/15)

 

It'll be a tough decision to find a good reason for any of the above cards to axe.  I'm guessing I could pay for parking a couple of times a month with each ($3 charge per day) to just keep them active and use Macy's as appropriate.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 1 of 5
4 REPLIES
Valued Contributor

Re: Dell Preferred *CLOSED*


visorboy1974 wrote:

Been looking to close a TL or two since there are a couple of cards in my account that I absolutely don't use.  This one is the easiest one as I've used it once since I opened it to buy a computer and the second time was to buy a USB drive.  

 

$3K limit and since I just got a $5K increase on one of my other cards, it effectively will not impact my utilization.  

 

Now, to find card #2 to axe.  

 

The remaining portfolio:

 

UIECU IlliniCard Rewards Visa $26K (12.9%)

PSECU Visa/PSL Combo $20K (9.9/12.9%)

Alliant Platinum Rewards Visa $17K (12.24%) 

Barclaycard Rewards MC $12.5K (12.99%)

Nordstrom Visa signature $12K (10.9%/14.9%)

BMW Card Visa $10K (16.24%)

Chase United MileagePlus Club Visa Signature $8K (15.24%)

State Farm Platinum Rewards Visa $6K (18.24%)

Macy's Platinum Store Card $4.4K (24.5%)

Discover IT $4K (0% till 5/15)

 

It'll be a tough decision to find a good reason for any of the above cards to axe.  I'm guessing I could pay for parking a couple of times a month with each ($3 charge per day) to just keep them active and use Macy's as appropriate.  


Nice lineup! Really, unless any of those cards have an unreasonable AF that you're unwilling to pay, then you can axe that card. Otherwise, all those lines are really high, have a good APR, or good intro APR. The only one I could see that you MAY close is the Macy's, since it's the lowest limit and highest APR, but Macy's does offer coupons and discounts for using the card as well as promotional offers on major purchases as well as the possible AMEX upgrade.


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 2 of 5
Valued Contributor

Re: Dell Preferred *CLOSED*


daybreakgonesXe wrote:

Nice lineup! Really, unless any of those cards have an unreasonable AF that you're unwilling to pay, then you can axe that card. Otherwise, all those lines are really high, have a good APR, or good intro APR. The only one I could see that you MAY close is the Macy's, since it's the lowest limit and highest APR, but Macy's does offer coupons and discounts for using the card as well as promotional offers on major purchases as well as the possible AMEX upgrade.


Thanks.  The only one with an AF is the Chase card ($395), but I get more than my money's worth in United Club visits.  As a Premier Silver member, the membership is usually $475 so I'm saving $80 right there each year, not to mention the AF was waived this year.  I also visit the club at least 15 times a year so it is a good value for me.    

 

Macy's is my last remaining store card so I'd prefer to keep it open.  Plus I usually spend a bunch of money there throughout the year and he coupons do come in handy.   

 

The only one that has ho hum rewards (but hey, they're still rewards) is State Farm.  I'll need to evaluate that one a little more as it's kind of an oddball card that not a lot of people have.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 3 of 5
Valued Contributor

Re: Dell Preferred *CLOSED*


visorboy1974 wrote:

daybreakgonesXe wrote:

Nice lineup! Really, unless any of those cards have an unreasonable AF that you're unwilling to pay, then you can axe that card. Otherwise, all those lines are really high, have a good APR, or good intro APR. The only one I could see that you MAY close is the Macy's, since it's the lowest limit and highest APR, but Macy's does offer coupons and discounts for using the card as well as promotional offers on major purchases as well as the possible AMEX upgrade.


Thanks.  The only one with an AF is the Chase card ($395), but I get more than my money's worth in United Club visits.  As a Premier Silver member, the membership is usually $475 so I'm saving $80 right there each year, not to mention the AF was waived this year.  I also visit the club at least 15 times a year so it is a good value for me.    

 

Macy's is my last remaining store card so I'd prefer to keep it open.  Plus I usually spend a bunch of money there throughout the year and he coupons do come in handy.   

 

The only one that has ho hum rewards (but hey, they're still rewards) is State Farm.  I'll need to evaluate that one a little more as it's kind of an oddball card that not a lot of people have.  


Yeah, I was looking at that State Farm one too! Personally though, if it's something you don't care for, just throw it in a sock drawer and give it that extra 1+ years until it potentially gets closed for inactivity. Is it actually backed by State Farm or by another entity?


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 4 of 5
Valued Contributor

Re: Dell Preferred *CLOSED*


daybreakgonesXe wrote:

visorboy1974 wrote:

daybreakgonesXe wrote:

Nice lineup! Really, unless any of those cards have an unreasonable AF that you're unwilling to pay, then you can axe that card. Otherwise, all those lines are really high, have a good APR, or good intro APR. The only one I could see that you MAY close is the Macy's, since it's the lowest limit and highest APR, but Macy's does offer coupons and discounts for using the card as well as promotional offers on major purchases as well as the possible AMEX upgrade.


Thanks.  The only one with an AF is the Chase card ($395), but I get more than my money's worth in United Club visits.  As a Premier Silver member, the membership is usually $475 so I'm saving $80 right there each year, not to mention the AF was waived this year.  I also visit the club at least 15 times a year so it is a good value for me.    

 

Macy's is my last remaining store card so I'd prefer to keep it open.  Plus I usually spend a bunch of money there throughout the year and he coupons do come in handy.   

 

The only one that has ho hum rewards (but hey, they're still rewards) is State Farm.  I'll need to evaluate that one a little more as it's kind of an oddball card that not a lot of people have.  


Yeah, I was looking at that State Farm one too! Personally though, if it's something you don't care for, just throw it in a sock drawer and give it that extra 1+ years until it potentially gets closed for inactivity. Is it actually backed by State Farm or by another entity?


Backed by State Farm Bank...

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 5 of 5