To close or not to close to "that is the question"

[credit_endurance]

Hey all..

So with spring here officially its time to do some cleaning house. I have come to the realization that I have "too" many credit cards in which some won't get the usage they deserve. But, I am also looking into trying to "combine" some limits and close the lesser value ones of the 2. For example,

I have 2 BOA issued cards. 123 rewards & Merrill Lynch VS $6,500 & $10,100 limits respectively. Which one would be the better further alternative down the round?

Ritz Carelton & Hyatt $20,000 & $8,000 respectively which of this 2 ?

On the bubble cards:

Amazon Store Card $10,000 ( Thinking od apping for the new Visa instead to replace this one)

Walmart Store $6,000 (hasen't budged since Oct)

Discover IT $3,600 ( Approved during rebuild higher APR with $500 increment increases certainly not on the "disco train")

CiTi DB $3,500 ( 10 months to see first sp cli $1,500)

These are the ones that come to mind... decisions... decisions! Please share thoughts adive much appreciated

[Kforce]

Only you know what benefit, use, and value each of the cards have for you.

Everyone can only push there view, what they like, use, and feel is more important.

You can't pick the best girl friend for me, any more than "myFico Forum Member's"

can tell you the value of a CC for you.

[AverageJoesCredit]

All good cards to me, all can grow, id keep them let them age if no AF and just use the ones you dont plan to use alot once every couple months. Thats just me though, personal opinion

[Revelate]

Without the rest of your list can't really suggest redundancies, and without your spending patterns (which may change) can't even give you good recommendations for which cards you should have outright.

I was planning to close several but then realized with my life going to change non-trivially in less than a year, better to just to hold pat.

I put a charge on the damned Commerce card which replaced my much loved Sallie, I feel ashamed and dirty.

[Anonymous]

If there's no annual fee, don't close them unless it's a headache to monitor them.  If it's a headache, sign up with Mint and get reminders if you ever have a balance.

The CLs help with utilization, and the aging helps keep your AAoA up when you add new accounts in the future.  If there are AF, try to PC to a non-AF card that keeps the same age.

[credit_endurance]

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@Anonymous wrote:

If there's no annual fee, don't close them unless it's a headache to monitor them.  If it's a headache, sign up with Mint and get reminders if you ever have a balance.

The CLs help with utilization, and the aging helps keep your AAoA up when you add new accounts in the future.  If there are AF, try to PC to a non-AF card that keeps the same age.

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Well, my BOA cards the 123 cash rewards Meriil Lynch cards both no fee. But prefer to keep only one of the two.

Chase Ritz Carleton $495 fee Hyatt $95 but both provide nice perks and benefits 

Forgot also mention 2 Amex revolvers BCP $95 fee BCE no fee both similar cards was thinking of reallocate to the BCP 

[credit_endurance]

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@Revelate wrote:

Without the rest of your list can't really suggest redundancies, and without your spending patterns (which may change) can't even give you good recommendations for which cards you should have outright.

I was planning to close several but then realized with my life going to change non-trivially in less than a year, better to just to hold pat.

I put a charge on the damned Commerce card which replaced my much loved Sallie, I feel ashamed and dirty.

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Rest of my list includes:

Amex BCP Amex BCE Amex PGR (Spending on groceries, gas, traveling etc). Between the 3 

Capital 1 QS1 thinking of PC to be fee and then app for Premier dining WM ( Bill pay automatic debits)

Lowes ( Household appliances, home improvement etc)

Care Credit ( dental, vet visits , emergencies)

Think the problem is I have to many "similar" cards with the same type of benefits so hear lies the need to trim the trees so to speak

:

[credit_endurance]

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@AverageJoesCredit wrote:
All good cards to me, all can grow, id keep them let them age if no AF and just use the ones you dont plan to use alot once every couple months. Thats just me though, personal opinion

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Thanks AverageJoe. When I applied for a few of  these cards I was thinking in short term but then there's always something more intriguing that catches your eye. There's a lot of micro managing that goes with having multiple cards. Letting them age is the plan most if not all have been opened within the last year so they will age together.