More Card Closing Fun!

[resilient]

Congrats Ray! You're my idol! Btw, I'm at $133k on 15 cards........I'd like to cut a few off too, but I'm not in the 790s yet

[Luscher]

why did you close the bce? what are using now in place of that?

thanks

[longtimelurker]

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@Luscher wrote:
why did you close the bce? what are using now in place of that?

thanks

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I would guess the Cosco card or the target card for groceries.   The BCE card isn't that great as a rewards card, the cap and the fact it is only 3% greatly reduces its value.

[mikey78]

that's why there was the blue cash Perferred? just that i don't like the AF

[longtimelurker]

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@mikey78 wrote:

that's why there was the blue cash Perferred? just that i don't like the AF

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Well, neither card is that great as a reward earner, again because of the cap, so BCP maxes out at $360 a year on groceries, -75 fee = $285.  The BCE gives $180.

As mentioned in several recent posts, BETWEEN these cards, BCP is nearly always the better choice, because of a higher bonus, and because you can buy gift cards at the supermarket to use in stores and restaurants and in effect get 6% off there.

But that is the better of the two.  Depending on spend and goals, there are cards that might be better, especially those without a cap.

[RockinRay]

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@creditnocash wrote:

great run ray.

whats your current util right now?

me bieng younger, i have TONS of time too work on my portfolio. 

i was dumb and ended up opening a bunch of cards i really didnt need. but i thought thats all i could get approved for. 

in the next 3 years i want too drop down too 5 or less as well (right now i have 10) 

whats your income if you dont mind me asking? and how many inq's do you have on your reports? lol 

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Util is 2% - I use the cards for daily life and let them report. Each is PIF of course.

Income grater than $150k but will not give an exact figure!  

INQ's - at least 10 across all 3... Those are coming down as they age off of course.

[RockinRay]

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@resilient wrote:
Congrats Ray! You're my idol! Btw, I'm at $133k on 15 cards........I'd like to cut a few off too, but I'm not in the 790s yet

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You have many cards based on your signature.  

You will get there. Took us two years to get to this point in life.

[RockinRay]

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@Luscher wrote:
why did you close the bce? what are using now in place of that?

thanks

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Target Visa and Coscto Amex. SInce my wife qworks for Target Corporate, guess where we get the majority of groceries!