Credit Cards

[lrdwilder]

Ok so here it is.....

I've been pretty good boy and have been doing well but need some advice what to keep and what to dump if anything....

1.Blue Cash Pref AMEX 25k

2. AMEX Plat daily use card

3. Citi forward 7k 5x points on restaurants which we use

4. Chase saphire 6k the gift card point exchange rate is good and want go to Saph pref

5. Capital one Plat 1.5k  Annual Fee in Dec

6. Cap one Venture 5k no for trans fee important to me

7. Barclays US Air 15k use for travel the most

8. Discover More 2.5k

Current util is 8% or less generally pay in full every month.... 

I want to be closer to ideal, I'm at eq 718, ex 744 (per citi) Total of 4 inq with 2 in Jan 2012 and 2 new ones. 

Thoughts?

[severine]

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lrdwilder wrote:

Ok so here it is.....

I've been pretty good boy and have been doing well but need some advice what to keep and what to dump if anything....

1.Blue Cash Pref AMEX 25k

2. AMEX Plat daily use card

3. Citi forward 7k 5x points on restaurants which we use

4. Chase saphire 6k the gift card point exchange rate is good and want go to Saph pref

5. Capital one Plat 1.5k  Annual Fee in Dec

6. Cap one Venture 5k no for trans fee important to me

7. Barclays US Air 15k use for travel the most

8. Discover More 2.5k

Current util is 8% or less generally pay in full every month.... 

I want to be closer to ideal, I'm at eq 718, ex 744 (per citi) Total of 4 inq with 2 in Jan 2012 and 2 new ones. 

Thoughts?

Personally I would dump #5, it doesn't look like you need it to me, esp. since it has an AF.

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[OptimasPrime]

Yeah no real need for number 5 especially with the af. I would wait until right before cap one hits you with the annual fee and then close. However, I assume that it's one of your older tradelines so you might want to ask them to waive the af and tell them that you will close the account if they refuse. 

If you do close the account it will still remain on your reports for 10 years so aaoa won't take any hit

[LilNYC]

If you end up upgrading your sphire to the preferred version you won't really need the Cap 1 Venture snymore since CSP doesn't charge a foreign trans fee either.

[LTomBerry]

Do you do enough travelling to justify the AF on the AmEx Platinum? Do you use all the perks like airport lounges and upgrades and whatnot?