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LOL OP wants to cancel my wish list
Make sure your debt is low and make sure the cards you are canceling have a zero balance. It should not affect your credit score drastically if you do these two things. I also reccomend that you keep the cards that you have the LONGEST history with. Any newer cards can be canceled with less consequences. Good luck!
@Anonymous wrote:I would combine any of the accounts that you can into the ones you want to keep. Then close whatever you don't want.
+1 to this, unless it costs you a HP and you are extremely high on HPs.
I'd also say that the Citi DP could be PC'd to a dividend, and while its not the best 5% card, you can max out the category for the year now, and start again Jan 1. Also the DP tends to get extra targeted offers like 5% off online purchases, or reduced purchase apr for a year as low as 1.99%, perm APR reductions, BT offers, etc. Or just move the limit to the DC that would also get most of the perks I just mentioned.
The US bank I would convert to cash+, and also convert the other to cash+.
If capital one is a decent limit, it may be worth keeping for debt shuffles, or if DC is nerfed.
Why are you wanting to close blisspay so soon? Just curious?
Close everything and keep the Blispay!! Kidding..that's the one card I would NEVER close.
Its a hidden trade line any way. Never know when it will come in handy.Its the one card out of the 25 or so I've had, that I can honestly say there's not another card like it.
What a waste of hard inquiries though if they're still on your credit report.
Irish basically summed up all the considerations for closing cards, so I won't repeat that, but everything he said is right. I've always just closed cards when I wanted to and it hasn't caused any issue for me or my score.
With 13 cards, you'll have enough accounts on your profile that closing some is not going to cause much harm. If they are no longer useful, move on. I totally agree with the viewpoint as I dislike having redundant accounts.
You could see about a PC for some of the cards, like the US Bank cards could become Cash+ possibly. It's unlikely you really need two Cash+ cards unless you really forsee exceeding the caps on the 5% categories regularly, which is probably unlikely as most of them are fairly niche areas of spending, not everyday expenditures. If you're trying to simplify, PCing both won't really rid you of any accounts. You can view the Cash+ categories on the website and decide if the categories look good to you but again you may not find that two are needed.
As far as wasting inquiries, the inquiries have happened whether you keep the cards or not, so it's pretty much irrelevant at ths point IMO.
@kdm31091 wrote:
As far as wasting inquiries, the inquiries have happened whether you keep the cards or not, so it's pretty much irrelevant at ths point IMO.
Of course, the damage has already been done. But it is a waste of inquiries to open cards only to close them. If you want to apply for a credit card you may be denied because of the amount of hard inquiries you have, hence it is a waste of hard inquiries as it has closed other doors to you.
@Anonymous wrote:
@kdm31091 wrote:
As far as wasting inquiries, the inquiries have happened whether you keep the cards or not, so it's pretty much irrelevant at ths point IMO.
Of course, the damage has already been done. But it is a waste of inquiries to open cards only to close them. If you want to apply for a credit card you may be denied because of the amount of hard inquiries you have, hence it is a waste of hard inquiries as it has closed other doors to you.
Back door numbers exist for a reason, and opening/closing a credit card account happens for a reason, too. No one says no to a $100.00, or even a $150.00 sign up bonus, or 20% off when the budget is tight.