Want to close 2-3 CC's this year..

[CreditCuriosity]

I know kinda tabooed subject on this forum, but I want to close 2 or 3 of my CC's at the end of year and trying to start picking on them.  Here is kinda my thoughts.

Venture One  = Gone (1st closed)

Delta = Gone (Don't feel like paying AF and will just role over limit to HHonors)

Freedom = Thinking about getting rid of this after a year as quite honestly I don't dig category cards, they are more hassle than they are worth to me and roll rest of limit into CSP.

So if I did this I would lose approx 5k in CL's..No big deal there as Venture can't roll limit.

US Bank Cash rewards is kinda a pointless card, but just got it and my "IN" with us Bank so that isn't on the list or that would be gone lol.

Main cards are in Signature.. Thoughts?  Anything above like 6-8 cards for me becomes a pain in the butt to try to show love to every month... Prefer to put alot of spend on a few so rewards build up quicker.

CSP = Main Travel Card.. No FTF's and UR rewards, etc..  Dining/Travel

SM = Self Explanatory. Gas/Groceryy/Amazon

ED = Most other non-category spend goes on this or QS (highest CL, so this is going to be pampered) (Also easily hit 35-40 transacation a month on this, probably should of gone with the AF one)

QS = Most other non-category spend goes on this or ED

HHonors (Dining Card and hotel stays goes on this card,  being hotel stays at Hilton)

Ring = Just a nice low apr% card if I ever got to carry a balance

Us Bank Cash rewards = Pointless atm, but building a relationship with US Bank so throw them a few hundred each month on it.

Try to keep cards that serve a purpose.

[chalupaman]

Sounds like an excellent plan to me.

[takeshi74]

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@CreditCuriousity wrote:

I know kinda tabooed subject on this forum, but I want to close 2 or 3 of my CC's at the end of year and trying to start picking on them.  

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Not popular != taboo and it really doesn't matter anyway.  Do what works for your versus what's popular.

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@CreditCuriousity wrote:

Try to keep cards that serve a purpose.

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Nothing wrong with that.

[Anonymous]

Sounds good to me.  I too am struggling with making sure all my cards get use so as they age some ill probably be doing the same.  Just have to decide which ones

[baller4life]

Love it!! Go for it. I don't leave useless cards open either. Not into just collecting cards.

[CreditCuriosity]

@Popa.. Thanks

@Takeshi.. Agree

[CreditCuriosity]

Thanks for the reassurance all..  Thought it was wise, but wanted to run by the plan as well... I don't know how people can do 20 cards or whatever..  Rewards get build up so much slower.. I understand the point of initial signup bonuses and all for it, but after that become a huge headache..  Seems like credit is a game of getting the best cards with the best limits and the best apr% that server your purpose.. You open them, use them and then prune them and rinse and repeat until you have as close as what you can get to the perfect line-up that works for you as a person..  Anymore than like 5 cards in my wallet and mainly 3-4 to put serious spend on just isn't practical and you are spreading out rewards.

[kdm31091]

I think it's a good plan, OP. There's nothing wrong with closing cards and even if it may not be "popular" you must do what works for you.

Outside of huge spend/huge income, it can be hard to justify 10, 15, 20 etc cards. There's nothing wrong with realizing that.

[Anonymous]

I also plan to trim and or downgrade a few.

[Anonymous]

Good plan @CC...   We all need that once in a while-