Help simplify my life

Anonymous · ‎09-17-2017

So I decided I'm closing a few accounts that I don't use or I just don't want, so here is the list of accounts I have

1) chase amazon visa signature $2000 (My Go to card)

2) discover it $2,300 (second go to card + first year Double cash)

3) Amex PRG

4) Amex Everyday

5) citi diamond $2,800

6) gap

7) QS1 $1,100

8) CAP1 secured $500

9) care credit

10) Amex Blue Plus (business so it doesn't count)

im definitely closing the Gap card, Capital one secured, care credit probably since I have the diamond with 21 months of 0apr i can use it for emergencies, so that would leave me with 6 cards I feel like that's too much still.. the Quicksilver is kinda boring to me plus I don't use it except for Netflix and Spotify (half price promotion) I feel like 5 cards would be enough maybe even 4.. so if you guys could give me and input on which cards I don't need or should close I'm open to it.

As of now the main card should I will keep at are the amazon prime, discover and diamond.

Also so I applied for the PayPal 2% cash back to replace my QS and I got a letter stating that I couldn't be approved for the card because I recently was approved for another PayPal product?????? What? I did have the PayPal extras but I closed it..

my scores are TU 736 EX 715 EQ 721

about 35 total inquiries most should fall of in 2018

i did just apply for the fidelity 2% but I got the 7-10 day message so I probably got denied .

so anyways help a brotha out,

Anonymous · ‎09-18-2017

@Anonymous wrote:
So I decided I'm closing a few accounts that I don't use or I just don't want, so here is the list of accounts I have
1) chase amazon visa signature $2000 (My Go to card)
2) discover it $2,300 (second go to card + first year Double cash)
3) Amex PRG
4) Amex Everyday
5) citi diamond $2,800
6) gap
7) QS1 $1,100
8) CAP1 secured $500
9) care credit
10) Amex Blue Plus (business so it doesn't count)

im definitely closing the Gap card, Capital one secured, care credit probably since I have the diamond with 21 months of 0apr i can use it for emergencies, so that would leave me with 6 cards I feel like that's too much still.. the Quicksilver is kinda boring to me plus I don't use it except for Netflix and Spotify (half price promotion) I feel like 5 cards would be enough maybe even 4.. so if you guys could give me and input on which cards I don't need or should close I'm open to it.
As of now the main card should I will keep at are the amazon prime, discover and diamond.

Also so I applied for the PayPal 2% cash back to replace my QS and I got a letter stating that I couldn't be approved for the card because I recently was approved for another PayPal product?????? What? I did have the PayPal extras but I closed it..

my scores are TU 736 EX 715 EQ 721
about 35 total inquiries most should fall of in 2018
i did just apply for the fidelity 2% but I got the 7-10 day message so I probably got denied .

so anyways help a brotha out,

Agreed on closing GAP and Cap1 Secured and Care Credit.

PC the Diamond to DC (Double Cash). If they allow it (including retention of the 0%), perfect; close the QS1 after the Spotify promo is over. Otherwise, seek upgrade to QSR to ditch the AF. (You could also recon Paypal with Synch, but, at least on paper, DC has better perks than PP.)

If Chase Amazon is your daily driver, are you sure the PRG is worth the AF to you? Depending on your spending (If you buy a lot of groceries, since you already get 2% for gas on the Chase Amazon), it may be worthwhile to PC the ED to BCE and close the PRG.

Also, which Disco do you have? If it's the regular one, friendly reminder that Q4 is Amazon, so with the Cashback Match it's better than your Chase Amazon.

MrDisco99 · ‎09-18-2017

If you're not heavily rotating those Amex MR cards to get transferrable airline miles, you're better off just ditching those cards. Especially the PRG and its $195 AF.

Affinity Cash Rewards VSig $25,000 prime +9.25%

Amex Hilton Surpass $20,000 prime+17.49%

Amex Blue Business Plus $30,000 prime+12.99%

Barclays Wyndham Earner VSig $22,800 prime+11.99%

Cap1 Quicksilver WEMC $10,000 prime+14.74%

Chase Freedom Flex WEMC $10,000 prime+17.49%

Chase Freedom Unlimited VSig $10,000 prime+17.49%

Chase IHG Select WMC $5,000 prime+19.74%

Chase Sapphire Preferred VSig $10,000 prime+12.74%

Citi DoubleCash WEMC $10,000 prime+16.24%

Citi Custom Cash WEMC $11,200 prime+12.74%

Renasant (Elan) Max Cash Preferred VSig $25,000 prime+11.24%

Renasant (Elan) Everyday Rewards+ VSig $4,000 prime+11.24%

Synchrony Verizon VSig $15,000 prime+18.49%

UpperNwGuy · ‎09-18-2017

@MrDisco99 wrote:
If you're not heavily rotating those Amex MR cards to get transferrable airline miles, you're better off just ditching those cards. Especially the PRG and its $195 AF.

I agree. Dump the Amex cards. You're losing money on the PRG if it isn't your primary card, and the MR points on both cards will be useless if you don't earn enough of them to permit a decent redemption.

Alternatively, you could make your two Amex cards your primary cards and demote the Amazon and the Discover. You really need to reassess your credit card goals. Do you want cash back or transferable points? Pick one and focus on it. Oherwise you'll be a mile wide and an inch deep.

Cards #7-9 can all be dropped. If you have a PRG, you don't need credit-builder cards.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure

HeavenOhio · ‎09-18-2017

You want to keep three major revolvers as that's ideal for scoring. And I'd suggest that at least two cards be MasterCard or Visa.

I'd call Capital One to see if the QS1 can be product-changed into a no-fee Quicksilver. If there isn't a PC offer right now, keep using it each and every month and calling about offers each month. My two QS1s were able to be PCed after about twelve consecutive months of charges and payments.

driftless · ‎09-18-2017

I will be a little bit of a contrarian, I would keep all of the Amex cards plus the Citi and Discover and close everything else and then garden until your inquiries fall off.

CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus

Anonymous · ‎09-18-2017

its the one with rotating categories so yes amazon for 4th quater will be better than my Pime card, i tottaly forgot about that, as for the PRG i only have it because i get random offers for 25k points if i spend 1000 or 2000 in 3 months, thats an easy 25k lol

Anonymous · ‎09-18-2017

i mean im constantly putting in 1k on the PRG so it gets its use but ill likely close it or change it to the Green (utilization purposes) that way i will still keep getting offers for easy 25k points, as for the everyday they just wont budge of the starting limit they gave me.

K-in-Boston · ‎09-18-2017

@Anonymous wrote:
its the one with rotating categories so yes amazon for 4th quater will be better than my Pime card, i tottaly forgot about that, as for the PRG i only have it because i get random offers for 25k points if i spend 1000 or 2000 in 3 months, thats an easy 25k lol

Wow, even if you're just cashing the MRs out for gift cards that's phenomenal and more than pays for the AF even if you just get it once a year. Best they offer me these days is "Spend $5,000 and get 5k bonus points up to 3 times this month," and I won't reallocate my spending for such a low return.

@Anonymous wrote:
i mean im constantly putting in 1k on the PRG so it gets its use but ill likely close it or change it to the Green (utilization purposes) that way i will still keep getting offers for easy 25k points, as for the everyday they just wont budge of the starting limit they gave me.

If you can use the $100 airline credit each year, the Green card becomes more expensive than the PRG.

Anonymous · ‎09-18-2017

ive had the secured card for 2 years and no offer to unsecure it so im closing it as we speak. as for the QS1 im thinking of closing it since i barely use it..