topic Re: Are you closing any accounts in 2015? in Credit Cards

Are you closing any accounts in 2015?

Josh2942 — Sun, 04 Jan 2015 19:28:35 GMT

Once my nasa FCU card reports with 30k I will close my target card which got a CLD from 500 to 200. Never used it. The nerve of them. My American eagle Store card never used it had 200 limit. Closing my OCCU duck card only used a handful of times with 1500. Also Macy's card at 800. My total CL will go to 105,500. Uti will stay at 1%. Anything That hasn't grown will die. What about you.

Re: Are you closing any accounts in 2015?

baller4life — Sun, 04 Jan 2015 19:29:28 GMT

Yep. Chevron,Barclays RMC,US Airways and Diners Club.

Re: Are you closing any accounts in 2015?

CreditCuriosity — Sun, 04 Jan 2015 19:31:37 GMT

@baller4life wrote:
Yep. Chevron,Barclays RMC,US Airways and Diners Club.

Why would you close diners club as isn't it a hidden trade line? Would love 10k that no one could see my utilization on if i had to put something on it for some reason.. unless the interest is huge of course

Re: Are you closing any accounts in 2015?

baller4life — Sun, 04 Jan 2015 19:36:35 GMT

Well by the time I close it I will have multiple cards over $25k. So I won't miss it. And with a 13% apr, I'm not too inclined to carry a balance on it anyways. So why would I keep a $95 af card? Naw, I had hoped I could use it as a prybar once I got it in the $30k+ range. But, the fact that it seems that it won't report at all, defeats that purpose.

Re: Are you closing any accounts in 2015?

yfan — Sun, 04 Jan 2015 19:36:34 GMT

I will be closing my Marriott Visa before the AF hits and transfer the CL to my Amazon Visa.

Re: Are you closing any accounts in 2015?

mitchblue — Sun, 04 Jan 2015 19:37:52 GMT

AMEX Green will be closed in the next 3 months. I'll miss it though.

Re: Are you closing any accounts in 2015?

mikelo22 — Sun, 04 Jan 2015 19:38:54 GMT

Will be closing my CSP right before the AF hits. Will xfer my limit to my Freedom though. Only got it for the sign up bonus. It'll be a nice CLI for my Freedom too.

Re: Are you closing any accounts in 2015?

Josh2942 — Sun, 04 Jan 2015 19:42:18 GMT

I would have applied for the diners but there was no sign up bonus to justify the 95 fee like the csp

Re: Are you closing any accounts in 2015?

Gunnar419 — Sun, 04 Jan 2015 19:44:06 GMT

Amex BCE for sure, probably also Chase Freedom.

They don't do anything my other cards can't do as well or better and although I have very few cards compared to a lot of people here (6), I'm uncomfortable with both the number of cards and the amount of overall credit I have for somebody with a modest income and modest credit use.

I'm also afraid my Costco TE might go away this year if Costco and Amex break up, but if that happens I'll be very sorry because I really like that card and it has a good CL.

Re: Are you closing any accounts in 2015?

Anonymous — Sun, 04 Jan 2015 19:45:01 GMT

Freedom after I transfer the limit to Sapphire. If approved for Ink in May transfer Sapphires limit to it (which I was told through SM was fine but maybe not from what Ive read here lately) and close. Although once this 6th statement closes with Freedom on the 8th I may transfer the limit and close it earlier than planned. Really have no use for it at this point

Re: Are you closing any accounts in 2015?

sunkissed — Sun, 04 Jan 2015 19:45:40 GMT

Definitely closing:

Target – the credit limit sucks! I have a prepaid Redcard to replace it, so I’ll still get my 5% discount.

Walmart – no rewards, so I never use it. There are no Walmart gas stations here either.

Lord & Taylor – no rewards; I do not use it often.

Consider closing:

USAA – I rarely use it. This card is best used for cashback. I get better cash back or points on other cards. The cash back can only be used for a statement credit and since I rarely use the card, it’s hard to redeem my cashback.

Re: Are you closing any accounts in 2015?

Josh2942 — Sun, 04 Jan 2015 19:45:53 GMT

I actually think the CAP annual fee is worth it. With the 2% on dining and travel with 5% on the freedom and combine them. But to each its own

Re: Are you closing any accounts in 2015?

mongstradamus — Sun, 04 Jan 2015 19:46:13 GMT

@Josh2942 wrote:
I would have applied for the diners but there was no sign up bonus to justify the 95 fee like the csp

I think DC is most similar to spg in terms of no bonus categories, and huge array of airline partners. I agree no signup bonus is pretty meh to me.

Re: Are you closing any accounts in 2015?

msbia — Sun, 04 Jan 2015 19:48:18 GMT

Cap1, Walmart, Amex PRG, USAA Amex and probably Home Depot.

Re: Are you closing any accounts in 2015?

techiegirl — Sun, 04 Jan 2015 19:50:01 GMT

DH closed his Macy's (2009) and our joint Bloomingdales card (2014).

Re: Are you closing any accounts in 2015?

Kellan — Sun, 04 Jan 2015 19:51:09 GMT

@Gunnar419 wrote:
Amex BCE for sure, probably also Chase Freedom.

They don't do anything my other cards can't do as well or better and although I have very few cards compared to a lot of people here (6), I'm uncomfortable with both the number of cards and the amount of overall credit I have for somebody with a modest income and modest credit use.

I'm also afraid my Costco TE might go away this year if Costco and Amex break up, but if that happens I'll be very sorry because I really like that card and it has a good CL.

It is such a smart decision that you know your own limit and don't need as many cards as everyone else.

I am guessing your Costco card will convert to an standard Amex card. Like the BCE card

Re: Are you closing any accounts in 2015?

CreditCuriosity — Sun, 04 Jan 2015 19:52:24 GMT

@baller4life wrote:
Well by the time I close it I will have multiple cards over $25k. So I won't miss it. And with a 13% apr, I'm not too inclined to carry a balance on it anyways. So why would I keep a $95 af card? Naw, I had hoped I could use it as a prybar once I got it in the $30k+ range. But, the fact that it seems that it won't report at all, defeats that purpose.

Ya forgot about the AF...

Re: Are you closing any accounts in 2015?

Kellan — Sun, 04 Jan 2015 19:54:10 GMT

For me I am debating about closing my CapOne card. It is one of my oldest cards and it has no annual fee. I charge netflix on it monthly and PIF. Its not harming anything so I am not sure.

My Target and Amazon cards. These cards are convient but I care about travel rewards. I would rather have frequent flyer miles even if they are not the same value as the 5% cash back. And Amazon only gives me time to pay without intrest. I always PIF.

Re: Are you closing any accounts in 2015?

sunkissed — Sun, 04 Jan 2015 19:54:18 GMT

@Anonymous wrote:
Freedom after I transfer the limit to Sapphire. If approved for Ink in May transfer Sapphires limit to it (which I was told through SM was fine but maybe not from what Ive read here lately) and close. Although once this 6th statement closes with Freedom on the 8th I may transfer the limit and close it earlier than planned. Really have no use for it at this point

HF,

I will admit Freedom is not the most useful card sometimes, but on the occasions when it is useful, I earn 5x UR points. It’s a nice compliment to my CSP. Are you sure you want to see it gone?

Re: Are you closing any accounts in 2015?

Gunnar419 — Sun, 04 Jan 2015 19:54:37 GMT

Kellan, thank you for the vote of confidence. It's easy around here to pick up on the more-more-more mentality, which is great for many but not for some of us.

I agree that if Costco and Amex break up the TE would likely get converted to something else (would be ironic if it were the BCE). The TE is such a great card for me, though. I'd really miss it.