In need of advice, may be in over my head!

[iMacDrew]

In my name I have, Amex bcp, discover more, Walmart discover, nfcu flagship, sapphire, cash +, Barclay apple , zales, plus au on zync and home depot. I would like to definitely trim these cards down to as few AF cards as possible. Want to axe off discover more, Barclays, and zales,maybe even bcp or change it to a regular everyday. Ar the end of the year I really want to be down to 3 credits and a charge. I only want to app for Amex gold premier in December and have my wife axe the zync since I have a higher income. II would like to keep the cash + and the flagship and Walmart for the tu fico. Please help me figure out how to go about the rest. I don't think I can manage all these cards. 

[tcbofade]

First, I'm (obviously) a very different person than you are.

...between DW and I, I actively manage 40+ credit card accounts.

If you'd like help managing your current portfolio, I imagine I could give you a few tips...

However, if you truly want to reduce the amount of accounts that you have, simply close the ones that you no longer wish to keep...

Am I missing something here?

[iMacDrew]

Most of these cards are similar to me and I want them all except the apple and the zales. How bad does it affect your score to have like 8 cards and never use them while actively using 3 cc every Month

My wife has a chase freedom herself so between that, the discover more and the cash + I just want to know which card is best for the long haul rather than the obvious 5% plus rotating rewards with a spending cap

[tcbofade]

Doesn't hurt your score a bit. 

If you're not using them, and they have no annual fee, simply place them in the sock drawer...they may eventually close themselves due to inactivity, but that won't hurt your score either!

[Crashem]

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@iMacDrew wrote:

In my name I have, Amex bcp, discover more, Walmart discover, nfcu flagship, sapphire, cash +, Barclay apple , zales, plus au on zync and home depot. I would like to definitely trim these cards down to as few AF cards as possible. Want to axe off discover more, Barclays, and zales,maybe even bcp or change it to a regular everyday. Ar the end of the year I really want to be down to 3 credits and a charge. I only want to app for Amex gold premier in December and have my wife axe the zync since I have a higher income. II would like to keep the cash + and the flagship and Walmart for the tu fico. Please help me figure out how to go about the rest. I don't think I can manage all these cards. 

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apologize in advance for crappy iPad formatting.  1) app for Amex premier gold in jan for max backdating.  As for managing cards, I recommend the following: 1) close any af cards you don't want.  2) do one of following for rest of cards you don't want a) sock drawer b) break out one of theunused cards every 3-4 months and use for one month and switch out 3) put small recurring charge on sock drawer card that has auto pay.  The main reason is to keep relationships with as many lenders going which is good.  Allow you tocontinue to build aaoa and history with lots of cards.  Down the line, it makes for strong credit file as any new cards will hardly hit aaoa.

[iMacDrew]

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@Crashem wrote:

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@iMacDrew wrote:

In my name I have, Amex bcp, discover more, Walmart discover, nfcu flagship, sapphire, cash +, Barclay apple , zales, plus au on zync and home depot. I would like to definitely trim these cards down to as few AF cards as possible. Want to axe off discover more, Barclays, and zales,maybe even bcp or change it to a regular everyday. Ar the end of the year I really want to be down to 3 credits and a charge. I only want to app for Amex gold premier in December and have my wife axe the zync since I have a higher income. II would like to keep the cash + and the flagship and Walmart for the tu fico. Please help me figure out how to go about the rest. I don't think I can manage all these cards. 

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apologize in advance for crappy iPad formatting.  1) app for Amex premier gold in jan for max backdating.  As for managing cards, I recommend the following: 1) close any af cards you don't want.  2) do one of following for rest of cards you don't want a) sock drawer b) break out one of theunused cards every 3-4 months and use for one month and switch out 3) put small recurring charge on sock drawer card that has auto pay.  The main reason is to keep relationships with as many lenders going which is good.  Allow you tocontinue to build aaoa and history with lots of cards.  Down the line, it makes for strong credit file as any new cards will hardly hit aaoa.

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I understand I'm on my iPhone lol. Ok I am used to having 2 cc. So if this sock drawer thing isn't as bad as it sounds I'll prob go that route. I was also interested in the hhonors surpass but I see tmany the points transfer over 1:1 from the gold premier. Is this true?