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A few weeks ago I cancelled Black Card since the value I received for the exhorbotant annual fee of close to $500 was not justified. A few days later after that I cancelled the Diners Carte Blanche (Professional) Mastercard since the value I got for the annual fee of $300 was also not justified. That brought me down to 21 cards.
The only two credit cards I have now that have annual fees are Amex Platinum and Citi Prestige.
Tonight just now, I closed/cancelled 6 more credit cards even though there is no annual fee, I just do not use them and I am in a mood of simplifying / cleaning house sort to speak, the cards I cancelled are:
1. Citi diamond ($20K)
2. Citi simplicity ($20K)
3. Juniper biz card (Barclays) ($5K)
4. Barclays arrival world mastercard (no annual fee version) ($13K)
5. Amex simply cash business ($9K)
6. Discover card ($3K)
That's a total of 8 so far.
Now I have 15 active cc and 5 PLOC for a total of 20 revolving accounts. I am not closing any PLOC, they were hard to get with W2's and all.
I have the following 15 CC's left:
1. Amex platinum
2. Bank of america visa
3. Cap one plat.
4. Cap one quicksilver
5. Japan credit bureau (JCB)
6. Merrill + Visa
7. US Bank cash rewards
8. Wells fargo visa
9. LA Financial credit union visa
10. PenFed promise visa
11. Chase freedom signature
12. Citi prestige
13. HSBC ( I was going to cancel this too but customer service was closed, I'll cancel this one tomorrow and that's it for now, only $3K line on this one)
14. Iberiabank
15. Simmons First
My available credit will drop but I am not worried about utilization %, I just have a total of $200 or so across all cc's as I pay in full each month. In the short term I expect a hit but in a few months it'll rebound.
Wow you were housecleaning!
Wow you were paying $1300 a year in AF's thats over $100 a month, thats crazy....
I can see why you canceled the first two AF cards... pretty hard to justify those kind of AF's these days with cards cutting benefits all the time.
@jamesdwi wrote:Wow you were paying $1300 a year in AF's thats over $100 a month, thats crazy....
I can see why you canceled the first two AF cards... pretty hard to justify those kind of AF's these days with cards cutting benefits all the time.
^^^^^^^
It was more like $1,875 a year since amex plat had AU's so total annual fee was $625; now it's $450 for prestige and $625 for amex plat (with auth users) for $1,075 a year total.
Hope you take full advantage of all the benefits and hope your AU's travel alot as well... I would just get them regular green charge cards.
@jamesdwi wrote:Hope you take full advantage of all the benefits and hope your AU's travel alot as well... I would just get them regular green charge cards.
^^^
yes for amex the Au's and I as well have used the centurion lounges, TSA pre check $100 app reimbursement, prem car rental insurance, airline credits, etc.
@youdontkillmoney wrote:A few weeks ago I cancelled Black Card since the value I received for the exhorbotant annual fee of close to $500 was not justified. A few days later after that I cancelled the Diners Carte Blanche (Professional) Mastercard since the value I got for the annual fee of $300 was also not justified. That brought me down to 21 cards.
The only two credit cards I have now that have annual fees are Amex Platinum and Citi Prestige.
Tonight just now, I closed/cancelled 6 more credit cards even though there is no annual fee, I just do not use them and I am in a mood of simplifying / cleaning house sort to speak, the cards I cancelled are:
1. Citi diamond ($20K)
2. Citi simplicity ($20K)
3. Juniper biz card (Barclays) ($5K)
4. Barclays arrival world mastercard (no annual fee version) ($13K)
5. Amex simply cash business ($9K)
6. Discover card ($3K)
That's a total of 8 so far.
Now I have 15 active cc and 5 PLOC for a total of 20 revolving accounts. I am not closing any PLOC, they were hard to get with W2's and all.
I have the following 15 CC's left:
1. Amex platinum
2. Bank of america visa
3. Cap one plat.
4. Cap one quicksilver
5. Japan credit bureau (JCB)
6. Merrill + Visa
7. US Bank cash rewards
8. Wells fargo visa
9. LA Financial credit union visa
10. PenFed promise visa
11. Chase freedom signature
12. Citi prestige
13. HSBC ( I was going to cancel this too but customer service was closed, I'll cancel this one tomorrow and that's it for now, only $3K line on this one)
14. Iberiabank
15. Simmons First
My available credit will drop but I am not worried about utilization %, I just have a total of $200 or so across all cc's as I pay in full each month. In the short term I expect a hit but in a few months it'll rebound.
I would have glady paid you a small fee for some of those closed cards.
Those are good limits on the 2 Citi cards. Did you consolidate those limits to your Prestige using a HP before closing?
That's good stuff op. But geez. Carte blance. Would have to keep that for old times sake. 300 AF 😄
Why would you keep CapOne over Citibank?!?!