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When is it time to start getting rid of the dead weight cards !

Established Contributor

When is it time to start getting rid of the dead weight cards !

I have to many cards as of right now.  When is the Ideal time to start closing accounts. And closing the lesser accounts will it open the doors to the last remaining card I want the Citi Thank You Premier Card or the Chase saphire.

NFCU Cash Rewards Siggy $22k, NFCU Flagship Rewards Siggy $22K, NFCU Platinum MC $20K, USAA Amex Rewards $6k, USAA World Mastercard Rewards $6k, NFCU Navcheck $15k

Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,


IN THE GARDEN UNTIL APRIL 2014

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4 REPLIES
Established Contributor

Re: When is it time to start getting rid of the dead weight cards !


dodgeball wrote:

I have to many cards as of right now.  When is the Ideal time to start closing accounts. And closing the lesser accounts will it open the doors to the last remaining card I want the Citi Thank You Premier Card or the Chase saphire.


Anytime your sick of looking at them lol.  If I were you I'd drop the BofA Amex, Chase Slate, and Barclay's Apple.

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
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Valued Contributor

Re: When is it time to start getting rid of the dead weight cards !

It depends - but generally anything without an annual fee I would leave open just to lengthen your credit history and maintain utilization. Set up autopay so that you never run into a late payment. If you aren't using a card that does have an AF, feel free to close it before the AF hits. Or, try calling the card issuer and ask to have the AF waived for another year. If they don't oblige, then you can close it.

Totally your decision though. Just remember, it's much harder to get credit when you actually need it.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

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Message 3 of 5
Established Contributor

Re: When is it time to start getting rid of the dead weight cards !

That was what I was thinking Lisa, but I just opened the accounts to find out there quite worthless to me.

NFCU Cash Rewards Siggy $22k, NFCU Flagship Rewards Siggy $22K, NFCU Platinum MC $20K, USAA Amex Rewards $6k, USAA World Mastercard Rewards $6k, NFCU Navcheck $15k

Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,


IN THE GARDEN UNTIL APRIL 2014

NFCU FAN CLUB MEMBER #1









Chase Star Card
NFCU FAN CLUB FAN#1
Message 4 of 5
Established Contributor

Re: When is it time to start getting rid of the dead weight cards !


dodgeball wrote:

That was what I was thinking Lisa, but I just opened the accounts to find out there quite worthless to me.


Thats exactly how I got so many cards, I did close my Cap 1 Newcomers, Sony Card, and Staples today. All 3 worthless.  

 

 

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
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