Going down to only 2 cards Major Closings!

[Anonymous514]

It's a good idea to me trust me I'm not worried ;-) 

[longtimelurker]

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@bigalkescott514 wrote:

It's a good idea to me trust me I'm not worried ;-) 

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Also, these really aren't irreversible decisions.  If you later find you need a card you closed, or want additional cards, you can get them, with small hits on inqs and AAoA but not a huge deal.

Now not quite sure why you started the thread because you were clear what you wanted to do, but ok!

[Anonymous]

Right on brother.  I hope to do the same in 24 months.  Reassessment of spend.

I agree with Jamaican's idea,  close one a month/ every other month.  Watch scores while it happens.  

[Anonymous]

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@bigalkescott514 wrote:

You know what I'm gonna keep the Venture One MC Discover and Chase unlimited cause the 1.5 rewards are justlike the qs rewardswise and its visa (sorry yall typing on my s7 edge not my pc so my typing sucks today.

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Congrats on cutting down your cards! I think efficiency is very important when it comes to credit - it's great that you're aware of how it's tempting you, and whatever works best for you is the way to go. Plus you've stuck with some very reliable cards too. Good luck on getting your home!

[DrZoidberg]

It blows my mind how everyone thinks this will wreck his credit. People do this all the time. I know a lot of churners and people who open a lot and close a lot and are in the 800s. Closing a bunch of cards won't be that dramatic. 

Sometimes people on this board think making credit moves will drop your score 200 points.

[EdMan63]

I think its great to cut down your cards and be efficient. Everyone needs to make their own determination as to what they need and act accordingly. As crazy as this site can be with all the apping that goes on, so many people afterwards want to cut down on the number of cards they have. Addicted or not, there is a reason the average person only has a few cards. Its really not necessary to have a bunch of cards on a day to day basis. You can see my signature. Most I may add is one more and it would most likely be a Discover card. For some reason I just want one even though it would be so similar to my Freedom. 

[kdm31091]

I think people tend to get overly paranoid about closing cards and scoring and such. Your score is highly unlikely to go down 200 points or anything because of closing some cards, like mentioned above.

Also, like lurker said, these aren't exactly permanent decisions. If you want more cards later, you can apply later. That's the same thing as people having tons of cards for "just in case of AA" purposes. That I don't get either; if a creditor closes your account, it's not like you're banned from opening an account elsewhere. Everyone has their own viewpoint but I completely get the minimalism approach.

[DoroLucky]

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@longtimelurker wrote:

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@bigalkescott514 wrote:

So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.

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OMG!!!!  That's the worst idea I have ever heard.   You must be...

Is that enough freak out for you?   Most people won't react as it is your credit, they don't know you etc....

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OMG

I needed that laugh  

[wasCB14]

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@DrZoidberg wrote:

It blows my mind how everyone thinks this will wreck his credit. People do this all the time. I know a lot of churners and people who open a lot and close a lot and are in the 800s. Closing a bunch of cards won't be that dramatic. 

Sometimes people on this board think making credit moves will drop your score 200 points.

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Simplicity can be good, but on here it seems to go in and out of fashion. I haven't read enough of OP's posts to know if OP's goals are constantly changing.

The thing to generally avoid (I think, at least) is closing a bunch of low/no bonus, no-AF cards...only to reapply for the exact same (or very similar) ones later. I've seen a lot of people do that, and it makes me wonder why they closed the old accounts in the first place.

My own approach is moderately aggressive travel bonus hunting that may soon include some churning.

Also, many heavy churners do keep a few no-AF cards open for AAoA momentum.

[Anonymous]

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@pizza1 wrote:
Ive decided that my "happy Place" could be 10..lol

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That's my happy place. In fact, I can't app for a new card unless I'm willing to give up one of the 10.