topic Re: Let the holiday choppings begin! in Credit Cards

Let the holiday choppings begin! UPDATE!

CreditMagic7 — Sun, 25 Jan 2015 22:29:05 GMT

Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit ARE APPRECIATED and helps other members not be taken in by lousy creditors tactics.

Re: Let the holiday choppings begin!

chalupaman — Fri, 26 Dec 2014 18:34:35 GMT

I closed my Chase Sw card and moved most of the CL over to the AARP especially since I met the sign up bonus and all and mainly got the card to get in with Chase. High limits are nice to have but high limits combined with great rewards is a much better compromise for me.

Amex Gold Delta Skymiles is on the chopping block next year for the same reasons and once I get a better Barclay card, I'm moving my arrivals limit over and closing that one too. Capone quicksilver and discover it and other cards will remain in the SD.

Re: Let the holiday choppings begin!

Anonymous — Fri, 26 Dec 2014 18:35:44 GMT

@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit and not be taken in by lousy creditors tactics.

Can't believe you closed out that card. It was what made you...You.

Re: Let the holiday choppings begin!

CreditMagic7 — Fri, 26 Dec 2014 18:40:15 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit and not be taken in by lousy creditors tactics.

Can't believe you closed out that card. It was what made you...You.

I never felt so free

Re: Let the holiday choppings begin!

Anomalous — Fri, 26 Dec 2014 18:45:55 GMT

@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit ARE APPRECIATED and helps other members not be taken in by lousy creditors tactics.

You can still take advantage of the 5% with the Redbird card (if available in your area Targets or acquire one on eBay).

Re: Let the holiday choppings begin!

kdm31091 — Fri, 26 Dec 2014 18:48:14 GMT

Yep, definitely a great time to start trimming the fat. I closed out my Freedom and they moved the limit to my Amazon Visa for me. I'm sure many people would say I'm crazy to close the Freedom since it's a card a lot of people want, but Discover's categories are so much more broad and useful to me IMO, having both Freedom and Discover is pretty redundant 95% of the year. Freedom almost never has a category that Discover doesn't have at some point in the year, unless you count possibly movie theaters, but how much do you really spend at a movie theater? I go maybe twice a year. The rewards are insignificant. Freedom does have groceries coming up, but I buy most of my groceries at BJ's and have their Mastercard for 5%; and my backup BCE for 3% at an actual grocery store. 2% more on again a relatively small amount of purchases isn't worth another account.

In short, feels great to trim the fat!

Re: Let the holiday choppings begin!

CreditMagic7 — Fri, 26 Dec 2014 18:59:38 GMT

@kdm31091 wrote:
Yep, definitely a great time to start trimming the fat. I closed out my Freedom and they moved the limit to my Amazon Visa for me. I'm sure many people would say I'm crazy to close the Freedom since it's a card a lot of people want, but Discover's categories are so much more broad and useful to me IMO, having both Freedom and Discover is pretty redundant 95% of the year. Freedom almost never has a category that Discover doesn't have at some point in the year, unless you count possibly movie theaters, but how much do you really spend at a movie theater? I go maybe twice a year. The rewards are insignificant. Freedom does have groceries coming up, but I buy most of my groceries at BJ's and have their Mastercard for 5%; and my backup BCE for 3% at an actual grocery store. 2% more on again a relatively small amount of purchases isn't worth another account.

In short, feels great to trim the fat!

Yeah, the Freedom 1stQ is pretty timely on this end for January. It's weird. Some find Discover's 5% to their favor while others just the opposite, but i agree on your point of both being somewhat redundant. I'm certain if the roles were reversed it might be Freedom instead of Disover on the chopper list here, but in this camp Discover has been the apprehensive one so far as their lack of CLI's are concerned . At least with Chase they do have that welcome feature in place to be able to move around the limits which is a benefit for anyone.

Re: Let the holiday choppings begin!

Anonymous — Fri, 26 Dec 2014 19:02:19 GMT

@CreditMagic7 wrote:
@kdm31091 wrote:
Yep, definitely a great time to start trimming the fat. I closed out my Freedom and they moved the limit to my Amazon Visa for me. I'm sure many people would say I'm crazy to close the Freedom since it's a card a lot of people want, but Discover's categories are so much more broad and useful to me IMO, having both Freedom and Discover is pretty redundant 95% of the year. Freedom almost never has a category that Discover doesn't have at some point in the year, unless you count possibly movie theaters, but how much do you really spend at a movie theater? I go maybe twice a year. The rewards are insignificant. Freedom does have groceries coming up, but I buy most of my groceries at BJ's and have their Mastercard for 5%; and my backup BCE for 3% at an actual grocery store. 2% more on again a relatively small amount of purchases isn't worth another account.

In short, feels great to trim the fat!

Yeah, the Freedom 1stQ is pretty timely on this end for January. It's weird. Some find Discover's 5% to their favor while others just the opposite, but i agree on your point of both being somewhat redundant. I'm certain if the roles were reversed it might be Freedom instead of Disover on the chopper list here, but in this camp Discover has been the apprehensive one so far as their lack of CLI's are concerned . At least with Chase they do have that welcome feature in place to be able to move around the limits which is a benefit for anyone.

Along with so many choices and wonderful bonuses.

Re: Let the holiday choppings begin!

CreditMagic7 — Fri, 26 Dec 2014 19:23:43 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
@kdm31091 wrote:
Yep, definitely a great time to start trimming the fat. I closed out my Freedom and they moved the limit to my Amazon Visa for me. I'm sure many people would say I'm crazy to close the Freedom since it's a card a lot of people want, but Discover's categories are so much more broad and useful to me IMO, having both Freedom and Discover is pretty redundant 95% of the year. Freedom almost never has a category that Discover doesn't have at some point in the year, unless you count possibly movie theaters, but how much do you really spend at a movie theater? I go maybe twice a year. The rewards are insignificant. Freedom does have groceries coming up, but I buy most of my groceries at BJ's and have their Mastercard for 5%; and my backup BCE for 3% at an actual grocery store. 2% more on again a relatively small amount of purchases isn't worth another account.

In short, feels great to trim the fat!

Yeah, the Freedom 1stQ is pretty timely on this end for January. It's weird. Some find Discover's 5% to their favor while others just the opposite, but i agree on your point of both being somewhat redundant. I'm certain if the roles were reversed it might be Freedom instead of Disover on the chopper list here, but in this camp Discover has been the apprehensive one so far as their lack of CLI's are concerned . At least with Chase they do have that welcome feature in place to be able to move around the limits which is a benefit for anyone.
Along with so many choices and wonderful bonuses.

Still green as far as Chase goes but it is indeed indisputable how well organized and featured that they are. A lot of catching up for me to do where concerns Chase as in CSP, Airlines, Hotels or AARP etc.but am enthusiastic what waits ahead in 2015 on adding their cards in place of the "chopped" slackers.

Re: Let the holiday choppings begin!

Anonymous — Fri, 26 Dec 2014 21:39:43 GMT

@CreditMagic7 wrote:

@Anonymous wrote:
@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit and not be taken in by lousy creditors tactics.

Can't believe you closed out that card. It was what made you...You.
I never felt so free

Sorry, now we will just refer to "that guy who used to have the $600 WEMC card". You cannot escape your destiny!

Re: Let the holiday choppings begin!

CreditMagic7 — Fri, 26 Dec 2014 21:44:29 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit and not be taken in by lousy creditors tactics.

Can't believe you closed out that card. It was what made you...You.
I never felt so free

Sorry, now we will just refer to "that guy who used to have the $600 WEMC card". You cannot escape your destiny!

Well, i do believe that i did prolong that rare legacy as humanly as possible but of course and oftimes reality does have a way of finally setting in, especially during the holidays

Re: Let the holiday choppings begin!

Anonymous — Fri, 26 Dec 2014 21:44:32 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
@CreditMagic7 wrote:
Very Happy Holidays to everyone and i trust that your Family Christmas was a fun, memorable and enjoyable one.

As we are coming up quickly on yet another new year soon i have decided it was high time enough to finally begin to exit, (Close) some choice cards that have earned their place on the Holiday Close-Out list. Sometimes some of your cards consistently refuse to grow with you and/or won't even exercise just a little bit of effort to compete along with their competion and just end up so stale that they spend more time in your SD then ever see the light of day. Outrageous high APR. low SL's with little or no CLI's are some of the most common reasons.

With that i feel like i just been Liberated!

Finally closed out the lousy $600 Crap1 GM Card for ever! and i have been so agitated with that particular C1 product that i told them they can keep whatever points i have accumalated. I mean, come on, really, how much of a return could one possibly hope to pool anyway with a paultry $600 Limit. The last time i put in for a CLI was in June thru the EO that was Denied with a wasted HP, and i believe that was the last straw for me. I knew right there and then this GM card was going to go no place at all and now it's far too late IMHO to harbor any real expectations that it could ever catch up on how far they've fell behind with the likes of Citi, BofA etc. And theres no way that they even want to and i completely understand their model on that.

So let's be honest here, Cap1 does have better products then the GM in Venture etc. which trend with a much better SL anyway if a profile supports it. I just want to share that it is A GREAT FEELING! to finally be free of it. Whew!

@Other's on the chopping block after Cap1 now is Discover along with at least 2 Comenity store cards and the Target RedCard. Discover is been as chincy as Cap1 when it comes to any CLI so it's NEXT in line definitely. I also don't know why i haven't alreay dumped Target. The 5% off is good but @$500 limit i can do better with rewards cards i think then to bang up against UTIL by using the RedCard.

Thanks again to everyone of you here in the community who continue to contribute and also know that your efforts to help others improve their credit and not be taken in by lousy creditors tactics.

Can't believe you closed out that card. It was what made you...You.
I never felt so free

Sorry, now we will just refer to "that guy who used to have the $600 WEMC card". You cannot escape your destiny!

Re: Let the holiday choppings begin!

CreditMagic7 — Fri, 26 Dec 2014 22:57:05 GMT

In all honesty i must admit that it's not exactly been that much fun. You do realize that it can become quite expensive to support such a Legacy product

In true Pres.George HW Bush style, "read my lips". No more EO

Re: Let the holiday choppings begin!

Josh611 — Fri, 26 Dec 2014 23:31:53 GMT

If Capital One doesn't get rid of my AF on my secured, it may be getting closed in Jaurary. Don't even use it anymore. It's just my oldest card.

Re: Let the holiday choppings begin!

dollar_bill — Sat, 27 Dec 2014 00:04:40 GMT

It's good to purge the cards once your profile supports moving onward and upward.

Some companies will grow with you, some won't.

Re: Let the holiday choppings begin!

CreditMagic7 — Sat, 27 Dec 2014 00:31:38 GMT

@dollar_bill wrote:
It's good to purge the cards once your profile supports moving onward and upward.

Some companies will grow with you, some won't.

I actually had good expectations when first approved for the GM card but unfortunately were never realized. What i did learn from it though was never app with a big lender for one of their Co-Branded cards first. In my case it was from a preapproval mailer that they likely hoped to make some interest on with all the GM flash and razzle dazzle attraction of it. And they may have done just that if not for the skid roll limit.

Re: Let the holiday choppings begin!

CreditMagic7 — Sun, 28 Dec 2014 20:21:35 GMT

As already mentioned there are also 2 Comenity catalog store cards that i WILL also be closing them the moment that the 12 months OK reporting shows up on the CR next month. Now unlike my now closed Crap1, the Comenity lines DO apply increases on a regular albeit 7-9 months basis with a SP, and i just got a CLI on both putting them around $1200 each from a start of $500 a year ago. The particular reason for closing these 2 cards is that the BrylaneHome CC also is accepted with Kingsize & Jessica London. In the SCT mania, i completely overlooked that aspect when i first went for them, so they are as we say, redundant.

On DiscoverIT, what's your opinion? It's been stuck tight at the $1400 SL since August 2013 and i've finished doing all the singing n dancing with useage, PIF, roll-a-balance that i'm going to put up with on it. Their competitors have long since already zoomed well beyond it, plus i am not at all thrilled with it's 22.99% high APR it's at either.

Since i'm going to just be gardening out for most of 2015 i want to take the right steps to trim down the redundant cc's as well as cut loose those like Discover & Cap1 that IMO are just in the way.

Re: Let the holiday choppings begin!

thelethargicage — Sun, 28 Dec 2014 20:22:39 GMT

Just shed some dead weight from my wallet: BofA Cash Rewards (transferred most of the CL to Fidelity Amex) and TrueEarnings

Re: Let the holiday choppings begin!

CreditMagic7 — Sun, 28 Dec 2014 20:25:02 GMT

@thelethargicage wrote:
Just shed some dead weight from my wallet: BofA Cash Rewards (transferred most of the CL to Fidelity Amex) and TrueEarnings

Interesting. Good move on your part. Especially useful with BofA who doesn't have any problems with letting us move limits around.

Re: Let the holiday choppings begin!

thelethargicage — Sun, 28 Dec 2014 20:30:48 GMT

@CreditMagic7:

Actually, the CL transfer cost me a HP ob TU (but at least I got to keep my first born)