Which cards should I close?

[Luscher]

<--------LOVE CHASE!

KEEP IT, AND GET MORE!!!!!!!

[Duncanrr]

If you got most of the cards within the last 6 months why are you now looking to close so many? (For some reason, there is no displayed image in your signature so I cant comment on your particular cards).  I wouldnt close any of them, especially ones that are under a year old.  SD the cards you dont use and keep open. Let the grow some.  If you have AF cards that you just applied for and are already looking to close, why did you get them to begin with? signup bonus?

[DigitalArk]

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@Duncanrr wrote:

If you got most of the cards within the last 6 months why are you now looking to close so many? (For some reason, there is no displayed image in your signature so I cant comment on your particular cards).  I wouldnt close any of them, especially ones that are under a year old.  SD the cards you dont use and keep open. Let the grow some.  If you have AF cards that you just applied for and are already looking to close, why did you get them to begin with? signup bonus?

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One thing I need to make it clear: I am NOT going to close any of my cards within 1~2 years. I am talking about like 3 years from now.

I only have two cards with AFs, Sapphire Preferred & Barclaycard Arrival. Besides that, I have USAA MC, USAA Amex, NFCU cashRewards, NFCU goRewards, Costco Amex, Chase Freedom and Discover it.

[09Lexie]

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@DigitalArk wrote:

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@Duncanrr wrote:

If you got most of the cards within the last 6 months why are you now looking to close so many? (For some reason, there is no displayed image in your signature so I cant comment on your particular cards).  I wouldnt close any of them, especially ones that are under a year old.  SD the cards you dont use and keep open. Let the grow some.  If you have AF cards that you just applied for and are already looking to close, why did you get them to begin with? signup bonus?

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One thing I need to make it clear: I am NOT going to close any of my cards within 1~2 years. I am talking about like 3 years from now.

I only have two cards with AFs, Sapphire Preferred & Barclaycard Arrival. Besides that, I have USAA MC, USAA Amex, NFCU cashRewards, NFCU goRewards, Costco Amex, Chase Freedom and Discover it.

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I guess you should ask this question in 1-2 years. Cc's and the bonus structures change, any advice given now is premature

[samm90]

My plan is to have only the IT, BCE, Freedom, and a CU card with a low apr for emergencies.

[Duncanrr]

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@DigitalArk wrote:

One thing I need to make it clear: I am NOT going to close any of my cards within 1~2 years. I am talking about like 3 years from now.

I only have two cards with AFs, Sapphire Preferred & Barclaycard Arrival. Besides that, I have USAA MC, USAA Amex, NFCU cashRewards, NFCU goRewards, Costco Amex, Chase Freedom and Discover it.

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Well thats a little different and I agree with Lexie that its kind of premature to give advice on which ones to close so far out in future.  My recommendation would be to match your spending to your current cards as best you can.  Fully taking advantage of percent back and other card benefits.  Do not play favorites with the card other than using them as intended.  After a year or so of normal use, I would look at my cards.  Are there any cards you are not regularly using? Are there AF's in which you are not making a sufficient return on, etc.  I would then axe the cards that dont fit your own personal spending patterns and if you are able to identify a need (say you stay in a particular hotel chain on regular basis) then I would consider apping for cards to fill your needs.

[FinStar]

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@09Lexie wrote:

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@DigitalArk wrote:

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@Duncanrr wrote:

If you got most of the cards within the last 6 months why are you now looking to close so many? (For some reason, there is no displayed image in your signature so I cant comment on your particular cards).  I wouldnt close any of them, especially ones that are under a year old.  SD the cards you dont use and keep open. Let the grow some.  If you have AF cards that you just applied for and are already looking to close, why did you get them to begin with? signup bonus?

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One thing I need to make it clear: I am NOT going to close any of my cards within 1~2 years. I am talking about like 3 years from now.

I only have two cards with AFs, Sapphire Preferred & Barclaycard Arrival. Besides that, I have USAA MC, USAA Amex, NFCU cashRewards, NFCU goRewards, Costco Amex, Chase Freedom and Discover it.

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I guess you should ask this question in 1-2 years. Cc's and the bonus structures change, any advice given now is premature

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+1

A lot can happen between now and then.  Not long ago you closed your AMEX TE card until folks pointed out the benefits and whatnot and you reopened it. 

[takeshi74]

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@DigitalArk wrote:

I want to keep just 5 cards in the future. But it's hard to make a decision.

If you were me, which 4 cards would you cut? (please refer to my signature)

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The ones least useful to me.  You need to decide using your criteria -- not by random polling.  I wouldn't have applied for several of the cards you have so what I'd do isn't relevant to you.

What's making the decision difficult?  Are they really all of equal benefit to you?  Have you listed your your needs/wants/priorities/goals and compared each card to that?  Have you calculated the financial benefit of each card to you for comparison?  Are they all the same age?  Even so, AAoA wouldn't be affected until 10 years down the road when the closed cards would fall off.  Have you determined the impact to your utilization by closing them?  It just seems unlikely that all of your cards would be the exact same using such comparisons.

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09Lexie wrote: I guess you should ask this question in 1-2 years. Cc's and the bonus structures change, any advice given now is premature

+1  No point in deciding now if your timeframe is that far out.