topic Re: Closing Cards is actually kind of fun! in Credit Cards

Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:10:19 GMT

Closed just a few cards this week

Chevron Visa $4k

Belk $2500

BP Visa $8k

Ebay Visa $5500

Stash Visa $8k

JCPenney Commercial $12k

Amazon Corporate PAY IN FULL $7k

Barclay Wyndham $5k CLD to $1900 - So I closed

Capital One Sony Visa $2250

TJX MasterCard $3600

Did I forget any?!

Re: Closing Cards is actually kind of fun!

kdm31091 — Fri, 30 Oct 2015 14:12:08 GMT

It's nice to get rid of useless cards

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:12:14 GMT

@Creditaddict wrote:
Closed just a few cards this week

Chevron Visa $4k
Belk $2500
BP Visa $8k
Ebay Visa $5500
Stash Visa $8k
JCPenney Commercial $12k
Amazon Corporate PAY IN FULL $7k
Barclay Wyndham $5k CLD to $1900 - So I closed
Capital One Sony Visa $2250
TJX MasterCard $3600

Did I forget any?!

Kohls $300

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:12:51 GMT

@kdm31091 wrote:
It's nice to get rid of useless cards

it also leaves me most things over $5k now!

Re: Closing Cards is actually kind of fun!

CreditCuriosity — Fri, 30 Oct 2015 14:14:50 GMT

Wow got rid of 50kish in credit.. Are you feeling ok this week?

Re: Closing Cards is actually kind of fun!

Anonymous — Fri, 30 Oct 2015 14:13:45 GMT

Wow! Good for you!

Re: Closing Cards is actually kind of fun!

CreditCuriosity — Fri, 30 Oct 2015 14:14:32 GMT

@Creditaddict wrote:
@kdm31091 wrote:
It's nice to get rid of useless cards
it also leaves me most things over $5k now!

ah knew there was a motive

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:16:03 GMT

@CreditCuriousity wrote:
Wow got rid of 50kish in credit.. Are you feeling ok this week?

LOL

Re: Closing Cards is actually kind of fun!

fury1995 — Fri, 30 Oct 2015 14:18:54 GMT

@Creditaddict wrote:
@Creditaddict wrote:
Closed just a few cards this week

Chevron Visa $4k
Belk $2500
BP Visa $8k
Ebay Visa $5500
Stash Visa $8k
JCPenney Commercial $12k
Amazon Corporate PAY IN FULL $7k
Barclay Wyndham $5k CLD to $1900 - So I closed
Capital One Sony Visa $2250
TJX MasterCard $3600

Did I forget any?!
Kohls $300

Actually, this is a better challenge. I think you will find you like this much better.

Instead of grinding the useless cards to the $5K threshold, dumping them gives you a fresher report to stare at.

Then work on the cards you like. Set a new threshold (limit) and work on getting all of those there.

If any of those don't work for your new plan, dump those too and work on the ones that are left.

It's a much more rewarding plan.

Re: Closing Cards is actually kind of fun!

icyhot — Fri, 30 Oct 2015 14:29:21 GMT

It DOES feel good until a card you closed gets an awesome benefit right after you closed it. ie: Amazon store card

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:42:56 GMT

@icyhot wrote:
It DOES feel good until a card you closed gets an awesome benefit right after you closed it. ie: Amazon store card

Yeah, Id be re-opening if I were you... Amazon Store Card is one of my most used cards!

Re: Closing Cards is actually kind of fun!

Anonymous — Fri, 30 Oct 2015 14:50:12 GMT

Did it take a hit on your Utilization after closing those cards?

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:54:22 GMT

@Anonymous wrote:
Did it take a hit on your Utilization after closing those cards?

Me? No... My reported revolving is typically around $10k a month and I PIF all but my Ashley Furniture and that puts my util. at 1%

Re: Closing Cards is actually kind of fun!

CreditCuriosity — Fri, 30 Oct 2015 14:55:12 GMT

@Anonymous wrote:
Did it take a hit on your Utilization after closing those cards?

LOL... I think he has like 700k in credit.. If it did, he has charged to much .. I think it didn't even move it even a percentage point lol

Re: Closing Cards is actually kind of fun!

Creditaddict — Fri, 30 Oct 2015 14:57:27 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
Did it take a hit on your Utilization after closing those cards?
LOL... I think he has like 700k in credit.. If it did, he has charged to much .. I think it didn't even move it even a percentage point lol

at least a little while longer... Our rebuild of the laundry is going to get very expensive very quickly and it's all going on credit cards but it will be in phases and I still have some large business lines to hit first before moving into personal cards.

Re: Closing Cards is actually kind of fun!

Anonymous — Fri, 30 Oct 2015 14:59:48 GMT

I never thought I'd see the day when CA intentionally closed cards. Time to see if I can snag some aerial bacon.

Re: Closing Cards is actually kind of fun!

CreditMagic7 — Fri, 30 Oct 2015 15:04:14 GMT

@CreditCuriousity wrote:
Wow got rid of 50kish in credit.. Are you feeling ok this week?

Is this really happening today

Re: Closing Cards is actually kind of fun!

Kidcat — Fri, 30 Oct 2015 15:14:55 GMT

I've done that too. It does feel good

Re: Closing Cards is actually kind of fun!

Anonymous — Fri, 30 Oct 2015 15:56:39 GMT

Definitely feels good to get rid of a few store cards, but no plans to get rid of majors at this time.

Re: Closing Cards is actually kind of fun!

pipeguy — Fri, 30 Oct 2015 16:57:19 GMT

I'm in the process of thinning the herd too - didn't manage to close as many as you did CC, but then again you have a lot more cards than I do - and two cards basically doubled my credit limits to keep them open (okay I'm weak).