Fidelity Amex

[Involver]

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@kdm31091 wrote:

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@Involver wrote:

If you're cool with throwing away 40k towards your util that you have to do absolutely nothing to maintain then go for it.

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OP has plenty of cards. I seriously doubt closing one is going to cause a significant score dip. If OP had two cards, one of which was the Fidelity at 40k, I'd be more concerned. But let's not over dramatize this. It is probably totally fine to close it and any score dip will not be long lasting with the amount of cards they have (not to mention they can try to get CLIs on existing cards before closing).

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There's no over-dramatization.  It was a factual assessment of his inquiry.  

[longtimelurker]

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@Involver wrote:

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@kdm31091 wrote:

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@Involver wrote:

If you're cool with throwing away 40k towards your util that you have to do absolutely nothing to maintain then go for it.

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OP has plenty of cards. I seriously doubt closing one is going to cause a significant score dip. If OP had two cards, one of which was the Fidelity at 40k, I'd be more concerned. But let's not over dramatize this. It is probably totally fine to close it and any score dip will not be long lasting with the amount of cards they have (not to mention they can try to get CLIs on existing cards before closing).

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There's no over-dramatization.  It was a factual assessment of his inquiry.  

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Well, "throwing away" is not exactly neutral terminology!   "If you are cool with reducing 40K of unnecessary exposure .... etc: would be an equally factual way of putting it.

[Involver]

I will be more careful with my semantics next time.

[Themanwhocan]

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@DigitalArk wrote:
I don't use it. My main one is PRG and CSP. I am thinking to close it. The CL is 21.5k.

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I assume you are using your Citi Double Cash for 2% cash back, making the Fidelity seem redundant. The only potential problem that comes to mind is that 2% cards don't seem to stick around  due to reduced company profitability, and rumor has it Citi is known for reducing card benefits and/or no longer offering some of their better cards. 

So, it might be nice to keep as a backup. But thats completely optional, of course.

[Involver]

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@Themanwhocan wrote:

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@DigitalArk wrote:
I don't use it. My main one is PRG and CSP. I am thinking to close it. The CL is 21.5k.

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I assume you are using your Citi Double Cash for 2% cash back, making the Fidelity seem redundant. The only potential problem that comes to mind is that 2% cards don't seem to stick around  due to reduced company profitability, and rumor has it Citi is known for reducing card benefits and/or no longer offering some of their better cards. 

So, it might be nice to keep as a backup. But thats completely optional, of course.

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totally offtopic but every time I see your sig i'm tempted to app a second sallie mae.  how long between apps were yours?  

[Themanwhocan]

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@Involver wrote:

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@Themanwhocan wrote:

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@DigitalArk wrote:
I don't use it. My main one is PRG and CSP. I am thinking to close it. The CL is 21.5k.

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I assume you are using your Citi Double Cash for 2% cash back, making the Fidelity seem redundant. The only potential problem that comes to mind is that 2% cards don't seem to stick around  due to reduced company profitability, and rumor has it Citi is known for reducing card benefits and/or no longer offering some of their better cards. 

So, it might be nice to keep as a backup. But thats completely optional, of course.

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totally offtopic but every time I see your sig i'm tempted to app a second sallie mae.  how long between apps were yours?  

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Priceline was my first Barclaycard, then Sallie Mae Platinum, then Sallie Mae World.

[longtimelurker]

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@Themanwhocan wrote:

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@DigitalArk wrote:
I don't use it. My main one is PRG and CSP. I am thinking to close it. The CL is 21.5k.

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I assume you are using your Citi Double Cash for 2% cash back, making the Fidelity seem redundant. The only potential problem that comes to mind is that 2% cards don't seem to stick around  due to reduced company profitability, and rumor has it Citi is known for reducing card benefits and/or no longer offering some of their better cards. 

So, it might be nice to keep as a backup. But thats completely optional, of course.

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I'm a little less inclined to cite Citi as a nerfer these days, with the de-nerfing of the Premier, and now loved issuers such as Chase has done slight nerfings to CSP (and Freedom).   While I'm keeping my Fid Amex for certain types of purchases, for normal stuff the $50 threshold, plus slightly reduced acceptance, does make it less attractive than Double Cash.    Now we could hope that BoA responds by enhancing the card, but that seems unlikely, as the latest move was to remove the mall.

[celluloid17]

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@Themanwhocan wrote:

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@DigitalArk wrote:
I don't use it. My main one is PRG and CSP. I am thinking to close it. The CL is 21.5k.

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I assume you are using your Citi Double Cash for 2% cash back, making the Fidelity seem redundant. The only potential problem that comes to mind is that 2% cards don't seem to stick around  due to reduced company profitability, and rumor has it Citi is known for reducing card benefits and/or no longer offering some of their better cards. 

So, it might be nice to keep as a backup. But thats completely optional, of course.

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On the other hand, Citi seems to keep cards active with original reward structure intact long after they are closed to new applicants (e.g., original Forward card, Dividend, etc.).  

I'm leaning towards closing my Fidelity Amex as well.  As mentioned, the $50 redemption threshold is too prohibitive for my level of spend and since I use 2% cards mostly for general bill pay or non-categorized purchases, I've encountered some instances where Amex is not accepted.  Double Cash was a game changer for me.  

[heyitsyeh]

 I mentioned this earlier but if you want to close your Fid Amex don't forget to transfer your entire limit to a BoA card. That way you keep your overall credit limit.

[celluloid17]

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@heyitsyeh wrote:

 I mentioned this earlier but if you want to close your Fid Amex don't forget to transfer your entire limit to a BoA card. That way you keep your overall credit limit.

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Does that involve a HP?