Thinking of closing one of my Amex and Chase cards - need advice

[Anonymous]

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

[Anonymous]

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

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No clue about the 3500 affecting future approvals.

But if you have a platinum, that has a big AF...I am confused. Do you only travel JUST enough to justify some of these cards? Because the ritz prg and platinum all give you travel credit. The prg gives you better MR point earning but its best paired with other MR point earners. I would prefer you keep the PRG over the platinum unless you just got the platinum and are going to close it next year before AF hits or try for retention offer.

Speaking of retention offer, wonder if the ritz has one? I know people get them with the  PRG.

The WF visa...wonder if that could be PC'd or move the limit around? If you are a big spender the WF propel looks to have a decent reward amount (based on themanwhocan 's beautiful chart)

I would also prefer that you use a capital one product for uber as it has 20% off.

I would list your monthly spend within categories to figure out what is best in terms of rewards. Either commit to MR or not. I aspire to have a Ritz later on in life when I am retired!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

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No clue about the 3500 affecting future approvals.

But if you have a platinum, that has a big AF...I am confused. Do you only travel JUST enough to justify some of these cards? Because the ritz prg and platinum all give you travel credit. The prg gives you better MR point earning but its best paired with other MR point earners. I would prefer you keep the PRG over the platinum unless you just got the platinum and are going to close it next year before AF hits or try for retention offer.

Speaking of retention offer, wonder if the ritz has one? I know people get them with the  PRG.

The WF visa...wonder if that could be PC'd or move the limit around? If you are a big spender the WF propel looks to have a decent reward amount (based on themanwhocan 's beautiful chart)

I would also prefer that you use a capital one product for uber as it has 20% off.

I would list your monthly spend within categories to figure out what is best in terms of rewards. Either commit to MR or not. I aspire to have a Ritz later on in life when I am retired!

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Wow, cool to know about CO on Uber. 

I do travel enough for the Plat card.  The Ritz card?  In all honesty I appd for this card last December because it had that crazy bonus if you met the spend.  I in now way had that card as a target of future cards to get.  Folks here were getting approved and I got caught up in it (just being honest, I have gotten FAR better about that since then).

This is also part of my goal of simplifying a wallet of cards.  I have more cards than I need and it's time to cut down a couple.  I would certainly get the majority of my limit of the Ritz moved to my Marriott card.

[TheConductor]

I would definitely close the PRG  and the Ritz if you also have the Platinum. 

You are essentially paying twice for many of the charge card services that overlap between the PRG and the Platinum. And there are plenty of other ways to get rewards on gas, groceries, etc. at a much lower annual fee, or even none at all.

Likewise with the Ritz, much of what your AF pays for is also provided by the Amex Platinum (travel credit, lounge access, concierge, etc.) Why buy something twice when you only need to buy it once?

I'd keep the WF Visa, though, unless it has an AF. The $3500 limit should not hurt you on new approvals. I've earned all of the limits in my sig while still carrying tiny $500 limits on my BoA and Best Buy cards, and an $1100 limit on my Freedom.

Regarding your concerns about churning, it takes more than just closing a couple of cards to start ringing alarm bells. It's perfectly reasonable to close an account now and then when the AF comes due and you realize it doesn't have the value to you that you require to justify the fee. Card companies offer bonuses to acquire customers, not to lock them into indentured customer-itude. They know they'll lose some now and then.

[OmarGB9]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

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No clue about the 3500 affecting future approvals.

But if you have a platinum, that has a big AF...I am confused. Do you only travel JUST enough to justify some of these cards? Because the ritz prg and platinum all give you travel credit. The prg gives you better MR point earning but its best paired with other MR point earners. I would prefer you keep the PRG over the platinum unless you just got the platinum and are going to close it next year before AF hits or try for retention offer.

Speaking of retention offer, wonder if the ritz has one? I know people get them with the  PRG.

The WF visa...wonder if that could be PC'd or move the limit around? If you are a big spender the WF propel looks to have a decent reward amount (based on themanwhocan 's beautiful chart)

I would also prefer that you use a capital one product for uber as it has 20% off.

I would list your monthly spend within categories to figure out what is best in terms of rewards. Either commit to MR or not. I aspire to have a Ritz later on in life when I am retired!

---

Wow, cool to know about CO on Uber. 

I do travel enough for the Plat card.  The Ritz card?  In all honesty I appd for this card last December because it had that crazy bonus if you met the spend.  I in now way had that card as a target of future cards to get.  Folks here were getting approved and I got caught up in it (just being honest, I have gotten FAR better about that since then).

This is also part of my goal of simplifying a wallet of cards.  I have more cards than I need and it's time to cut down a couple.  I would certainly get the majority of my limit of the Ritz moved to my Marriott card.

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The 20% off Uber is only with the Quicksilver and only until April 2016. Not a permanent thing. Still a really nice perk though. Just trying to clarify.

Anyway yes I agree to close cards you don't need or use. Especially since their benefits overlap.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

---

No clue about the 3500 affecting future approvals.

But if you have a platinum, that has a big AF...I am confused. Do you only travel JUST enough to justify some of these cards? Because the ritz prg and platinum all give you travel credit. The prg gives you better MR point earning but its best paired with other MR point earners. I would prefer you keep the PRG over the platinum unless you just got the platinum and are going to close it next year before AF hits or try for retention offer.

Speaking of retention offer, wonder if the ritz has one? I know people get them with the  PRG.

The WF visa...wonder if that could be PC'd or move the limit around? If you are a big spender the WF propel looks to have a decent reward amount (based on themanwhocan 's beautiful chart)

I would also prefer that you use a capital one product for uber as it has 20% off.

I would list your monthly spend within categories to figure out what is best in terms of rewards. Either commit to MR or not. I aspire to have a Ritz later on in life when I am retired!

---

Wow, cool to know about CO on Uber. 

I do travel enough for the Plat card.  The Ritz card?  In all honesty I appd for this card last December because it had that crazy bonus if you met the spend.  I in now way had that card as a target of future cards to get.  Folks here were getting approved and I got caught up in it (just being honest, I have gotten FAR better about that since then).

This is also part of my goal of simplifying a wallet of cards.  I have more cards than I need and it's time to cut down a couple.  I would certainly get the majority of my limit of the Ritz moved to my Marriott card.

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CHURNER! Lol jk. That is good that you can move the limit. Might cost you a HP though?  I would still check, just to be safe, if there is a retention offer.

About the uber promo: its quicksilver only

[Anonymous]

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@TheConductor wrote:

I would definitely close the PRG  and the Ritz if you also have the Platinum. 

You are essentially paying twice for many of the charge card services that overlap between the PRG and the Platinum. And there are plenty of other ways to get rewards on gas, groceries, etc. at a much lower annual fee, or even none at all.

Likewise with the Ritz, much of what your AF pays for is also provided by the Amex Platinum (travel credit, lounge access, concierge, etc.) Why buy something twice when you only need to buy it once?

I'd keep the WF Visa, though, unless it has an AF. The $3500 limit should not hurt you on new approvals. I've earned all of the limits in my sig while still carrying tiny $500 limits on my BoA and Best Buy cards, and an $1100 limit on my Freedom.

Regarding your concerns about churning, it takes more than just closing a couple of cards to start ringing alarm bells. It's perfectly reasonable to close an account now and then when the AF comes due and you realize it doesn't have the value to you that you require to justify the fee. Card companies offer bonuses to acquire customers, not to lock them into indentured customer-itude. They know they'll lose some now and then.

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Thank you and I totally agree.  Thanks for such a well thought response.

I get you are right about churners.  I have gotten things so far along compared to just 12 months ago and want to only improve as the future goes along.

[red259]

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

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I think people get a little too paranoid about this. I have closed or downgraded multiple amex cards and always get new cards with them. I wouldn't close the card two weeks after getting the bonus, but paying the AF on a card you have no use for is kinda silly. 

[Anonymous]

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@Anonymous wrote:

The ones I am considering is the Amex PRG and my Chase Ritz card.  Neither of these cards get any use any longer.  In regards to a charge card I am happy with the Amex Platinum and I have numerous other cards for rewards, points, and miles.  The annual fee for the PRG is November and the Ritz is December.

What am I concerned with?  I don't want to somehow get into that churner category (in the card issuers eyes) because I could see myself adding a card down the road depending on the offerings. 

Additional is my WF Visa.  This was a secured card that graduated and has a credit limit of $3,500.  This card only gets use with Amazon and Uber.  In getting future cards will this smaller limit hurt starting limits on new cards?  My other cards are growing nicely currently with a high limit of 16,700.

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No, I've had a Wells card which is 1/3rd of my second-lowest limit and it's never prevented me from getting approvals approaching the mid five figures. Lenders do want to see that you have experience with high limit cards before giving you one, but having a low limit card in addition to other high limit cards won't hurt you. Obviously the rest of the rules apply like account age and payment length, so its not just limit, but it's a contributing factor.

Try to call Wells Fargo and ask for a line increase though. Occasionally they will do SP (I had luck getting a slight bump a few months back). If they want to HP you, just tell them no, put a couple of months of small steady usage on the card, and try back again later. A HP with WF might be considered a waste but of course its perfectly fine if you won't need any big approvals for a little while.