Spring Cleaning - just closed due to low CL or high APR these got axed

[pipeguy]

Closed the low hanging fruit

Cap-1 QS MC (3500 no AF)

Cap-1 Sony Visa (3000 no AF)

Comenity BJ's Visa (2500 no AF)

Citi Shell MC (1000 no AF)

Citi Exxon-Mobil (1500 no AF)

Still have 24 additional cards which I want to get down to 18 or less with a bunch of them having zero APR until this summer.

Next round of "killing cards" will be harder.

[Anonymous]

What are some cards you are thinking about for the next round?

[Anonymous]

Nice, it should be easier to manage!

[pipeguy]

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@MstrPTato wrote:

What are some cards you are thinking about for the next round?

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BAC Cash Rewards currently 0% APR, but lower CL and high APR after the intro

Golfsmith (GE/Sync) 6-12 months same as cash financing, but otherwise 29.99 APR (never paid any interest on this acount but the 29.99 just annoys me)

Fidelity Bank Visa  - I have better cards and its only $3000 CL which they won't incease.

GE/Sync Texaco - Chevron Visa - decent gas rewards, but there are no stations near me so its just an "average Visa" with a high APR and decent CL

After that it gets harder because I can make a case for the other 20, but I want to get down to maybe 12 all with at least a 10k CL (currently have 6 with 10-20k) 

[chwebb1]

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@pipeguy wrote:

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@MstrPTato wrote:

What are some cards you are thinking about for the next round?

---

BAC Cash Rewards currently 0% APR, but lower CL and high APR after the intro

Golfsmith (GE/Sync) 6-12 months same as cash financing, but otherwise 29.99 APR (never paid any interest on this acount but the 29.99 just annoys me)

Fidelity Bank Visa  - I have better cards and its only $3000 CL which they won't incease.

GE/Sync Texaco - Chevron Visa - decent gas rewards, but there are no stations near me so its just an "average Visa" with a high APR and decent CL

After that it gets harder because I can make a case for the other 20, but I want to get down to maybe 12 all with at least a 10k CL (currently have 6 with 10-20k) 

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As far as your Cash Rewards card is concerned, I'd tell you to call a credit analyst first and ask for an APR reduction. They reduced mine from 19.99% to 12.99% in one phone call.

[joedtx]

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@pipeguy wrote:

Closed the low hanging fruit

Cap-1 QS MC (3500 no AF)

Cap-1 Sony Visa (3000 no AF)

Comenity BJ's Visa (2500 no AF)

Citi Shell MC (1000 no AF)

Citi Exxon-Mobil (1500 no AF)

Still have 24 additional cards which I want to get down to 18 or less with a bunch of them having zero APR until this summer.

Next round of "killing cards" will be harder.

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Sounds like your doing whats best for your finances, nothing wrong with a little fine tuning I guess it's like putting a performance chip in your cars computer its getting more out of what you already have, good thinking there Pipeguy 

[smc733]

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@pipeguy wrote:

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@MstrPTato wrote:

What are some cards you are thinking about for the next round?

---

BAC Cash Rewards currently 0% APR, but lower CL and high APR after the intro

Golfsmith (GE/Sync) 6-12 months same as cash financing, but otherwise 29.99 APR (never paid any interest on this acount but the 29.99 just annoys me)

Fidelity Bank Visa  - I have better cards and its only $3000 CL which they won't incease.

GE/Sync Texaco - Chevron Visa - decent gas rewards, but there are no stations near me so its just an "average Visa" with a high APR and decent CL

After that it gets harder because I can make a case for the other 20, but I want to get down to maybe 12 all with at least a 10k CL (currently have 6 with 10-20k) 

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I wouldn't chop this one.  For me, anyway, the rewards fit my spending profile (gas and groceries) with Visa Signature acceptance and benefits, and they pair really well with Preferred Rewards if you're a banking customer!

BofA will grow with you, they've always been the easiest of all with me, I went from 14.24% to 9.99, and $700 > $10k with that card.  After my mortgage closes, I'm going to bite the bullet and take a HP for a CLI to $25k.  This is definitely a card that will grow.

I do like the idea of pairing down, I'm at 6 and would love to be down to 4 cards with 20k-25k limits, and lower APRs (even if I don't carry balances) at some point.  It's just easier to manage.  20 seems WAY too high!

[pipeguy]

As far as killing the BoA Cash Rewards - for those saying to keep this card, I understand where you are coming from, but so far BoA has been "difficult" to say the least. I opened this card to take advantage of the $100 back after spending $500 (nice bonus) and the 00% APR for 12 months, but so far they have refused to increase the CL and thats after 3 HP's (1 to open, 1 after receiving the card and requesting a CLI (their instructions), and another at 6 months when they refused a CLI).

When I applied I was expecting the Visa Signature card with at least a $5k CL, I got the standard version with a $2k CL and a high APR even though that does not apply until after August 2015. Even my Amazon and Walmart store cards have me at $5k - this is my only card under $3k with almost all my cards $5k+ and 6 cards 10k to 20k. I'm at a point I'm closing cards that don't serve my needs and a "generic" $2k  BoA card at 22.99% doesn't even come close.

All true FICO scores are mid-700's, income low six figures, zero negitive accounts on any CRA, lots of inquiries but that was true when I got the BoA card too. I "might" keep it open until the 0% APR promo runs out, but frankly as far as "close factors" I see no reason to prolong the grief with BoA since they obviously think I'm a bad credit risk.

I also personaly have an adversion to calling any CC company and pleading my case - I feel that if my profile doesn't fit their needs, so be it, I've got lots of options as I'm at a point that I don't need to beg anyone for acceptance.

[kdm31091]

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@pipeguy wrote:

As far as killing the BoA Cash Rewards - for those saying to keep this card, I understand where you are coming from, but so far BoA has been "difficult" to say the least. I opened this card to take advantage of the $100 back after spending $500 (nice bonus) and the 00% APR for 12 months, but so far they have refused to increase the CL and thats after 3 HP's (1 to open, 1 after receiving the card and requesting a CLI (their instructions), and another at 6 months when they refused a CLI).

When I applied I was expecting the Visa Signature card with at least a $5k CL, I got the standard version with a $2k CL and a high APR even though that does not apply until after August 2015. Even my Amazon and Walmart store cards have me at $5k - this is my only card under $3k with almost all my cards $5k+ and 6 cards 10k to 20k. I'm at a point I'm closing cards that don't serve my needs and a "generic" $2k  BoA card at 22.99% doesn't even come close.

All true FICO scores are mid-700's, income low six figures, zero negitive accounts on any CRA, lots of inquiries but that was true when I got the BoA card too. I "might" keep it open until the 0% APR promo runs out, but frankly as far as "close factors" I see no reason to prolong the grief with BoA since they obviously think I'm a bad credit risk.

I also personaly have an adversion to calling any CC company and pleading my case - I feel that if my profile doesn't fit their needs, so be it, I've got lots of options as I'm at a point that I don't need to beg anyone for acceptance.

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Some creditors give out worse terms than others for people in the same credit range. I have the same feelings about Chase -- they were too conservative with me with my Amazon APR IMO, and the limit even -- I moved the limit from Freedom and that's how I have a decent limit.

Since BOA seems like they don't want to improve your card for you, if you have other cards you like better, just close BOA. BOA's feelings will not be hurt. They clearly don't want to help you out much so why give them your business? (Plus the Cash Rewards is not a super exciting card IMO).

[smc733]

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@pipeguy wrote:

As far as killing the BoA Cash Rewards - for those saying to keep this card, I understand where you are coming from, but so far BoA has been "difficult" to say the least. I opened this card to take advantage of the $100 back after spending $500 (nice bonus) and the 00% APR for 12 months, but so far they have refused to increase the CL and thats after 3 HP's (1 to open, 1 after receiving the card and requesting a CLI (their instructions), and another at 6 months when they refused a CLI).

When I applied I was expecting the Visa Signature card with at least a $5k CL, I got the standard version with a $2k CL and a high APR even though that does not apply until after August 2015. Even my Amazon and Walmart store cards have me at $5k - this is my only card under $3k with almost all my cards $5k+ and 6 cards 10k to 20k. I'm at a point I'm closing cards that don't serve my needs and a "generic" $2k  BoA card at 22.99% doesn't even come close.

All true FICO scores are mid-700's, income low six figures, zero negitive accounts on any CRA, lots of inquiries but that was true when I got the BoA card too. I "might" keep it open until the 0% APR promo runs out, but frankly as far as "close factors" I see no reason to prolong the grief with BoA since they obviously think I'm a bad credit risk.

I also personaly have an adversion to calling any CC company and pleading my case - I feel that if my profile doesn't fit their needs, so be it, I've got lots of options as I'm at a point that I don't need to beg anyone for acceptance.

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Very strange, I wonder if calling a backdoor number would help...  Either way, I understand where you're coming from.  I am not fond of Chase for the same reason (refuse to touch the 15.24% APR).  Its their choice, yes, but I don't like the card because of the obstienent policies.

Down it goes if you've got the other cards to fit your profile!