For me? It was the PenFed gas card. I finally decided to walk away from the idea of them and went with Amex's BCP and couldn't be happier. It'll take years (and that's a conservative estimate) of paying down school-related expenses off my CCs to be the customer they really cater to on upper tier products PenFed offers.
Currently, I'm just not interested in any more credit cards and wouldn't even accept a pre-approved offer from PenFed.
Starting Score: 675
LS2982 wrote:
@drkaje You know if PenFed sent you the invite you'd bite.........lol
PenFed and I are done.
Sure, it'd feel nice to finally get approved for their product but if you ignore the emotional aspect of it; a card from them really wouldn't add any value to my life. I already have 7 cards and would love to close at least three of them within 3 years.
Even the idea of a balance transfer is pretty distasteful. There'd be an interest rate advantage but a person really can't borrow their way out of debt or artificially impact utilization % forever.
My Chase Freedom turns 1 year old in August. if there's no CLI by January it will be cancelled if I've managed to reduce debt to a point where losing the credit line won't adversely affect FICO scores too badly. A year after Chase should be USAA's turn.
marty56 wrote:drkaje, there is no reason to cancel any CC cards if they don't have a yearly/monthly fee. It will also hurt your FICO score.
BofA is the hardest for me since I will never apply to them.
The positive tradelines will report for ten years and my Amex is back-dated to '95 so the impact shouldn't be too severe.
Also, I'm going to care less about FICO by then. It's a long term goal to be better positioned so minor changes in score don't reeally have much meaning. IMO, once everything's paid off and I can qualify for a mortgage, there won't be any need for $40K in available credit. I'll keep the Amex, one Citi, and a third card.
Open123 wrote:
dyv8914 wrote:Interesting question. I'm at the point where I don't need any more credit but in the future I would consider...
Chase Sapphire Preferred
Costco Amex
PenFed Cash Rewards
Simmons First or Iberia Bank (low APR)
I'm not sure which is hardest but I don't think any of them are particularly easy. If I were to add a 5th card today it would be CSP b/c of the upgrade it gives to Freedom UR points.
Of that list, I think the CSP offers you the most value if you currently have the Freedom. With the CSP, Freedom, and Chase checking, you can really accelerate your rewards program.
That's what I'm thinking too. I recently learned about the CSP/Freedom/Chase checking combo and it's really something else! If you take advantage of the UR mall you can easily get 10+ UR points per dollar spent which transfers 1:1 to FF programs. Quite remarkable if you ask me 
Only thing is I don't travel nearly enough to justify the AF. My Citi card also gives higher rewards on dining than CSP. So its a great combo for some people but I am holding off on it for now since it doesn't fit my needs.
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