Do you regret closing any of your accounts?

[Anonymous]

Yikes. I wouldn't close a Sallie Mae with a $500 limit, let alone $10000....

I do regret closing my Banana Republic card. I closed it because I wasn't using it, but that was back when I didn't understand the importance of AAOA. I should have just sock drawered the card.

[kdm31091]

While closing the Sallie Mae with a huge limit may be something you regret, sometimes you just need to trim the fat. It can be overwhelming dealing with multiple accounts and payments to make constantly. Yes, the SM rewards are great, but if you are overwhelmed with cards I don't think it's worth it. Obviously it's a personal decision as to what point is overwhelming. I personally don't think I could go beyond 5-6 cards at the most.

[wacdenney]

I've closed several and don't regret any of them.

[chwebb1]

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@Anonymous wrote:

I reget closing couple of my accounts. Barclay Rewards $10,000, and Barclay Sallie Mae $10,000.. Do you regret of closing any of your accounts?

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I personally haven't regretted closing any cards that I've closed, and I've closed 3 credit cards and a Bill me Later account. I keep thinking about closing the Citi DoubleCash that I PCd from the Dividend, but I can't decide for sure if I should or not. I don't really use it because I don't want to have to keep up with another account with very little benefit to me. The only thing stopping me is that it's my 4th lowest APR (15.99%) and one of my higher limits. If I can get BoA to lower my sky high APR of 19.99% on my Cash Rewards, and 18.99% on my Better Balance card after my 0% intro expires, the Citi will likely be on the chopping block.

[Anonymous]

I don't believe in closing accounts unless it's costing me an annual fee.

I have close to 60 accounts, worrying about AAoA is for the other guys.  

[SunriseEarth]

I've only willingly closed two CCs.   I closed AMEX prior to BK, so I definitely do not regret that!   More recently, I closed Credit One and I have no regrets!   They did their job and I outgrew them.  

[woodyman100]

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@Anonymous wrote:

I don't believe in closing accounts unless it's costing me an annual fee.

I have close to 60 accounts, worrying about AAoA is for the other guys.  

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Amen!