topic Re: Going down to only 2 cards Major Closings! in Credit Cards

Going down to only 2 cards Major Closings!

Anonymous514 — Tue, 12 Jul 2016 19:01:03 GMT

So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 19:05:03 GMT

Good for you. You do what is BEST for you as only you knows what your spending habits are.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 19:13:41 GMT

@bigalkescott514 wrote:
So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.

May I ask which two cards you are keeping? Did you make this decision suddenly or have you been thinking about it a long time? Just wondering. Well, if you are happy, then I am happy for you.

Re: Going down to only 2 cards Major Closings!

ScoreOrBeScored — Tue, 12 Jul 2016 19:13:42 GMT

Good for you !! Any smart person would keep at least 3. Your credit, your choice like you said .

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 19:17:58 GMT

@Anonymous wrote:
@bigalkescott514 wrote:
So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.
May I ask which two cards you are keeping? Did you make this decision suddenly or have you been thinking about it a long time? Just wondering. Well, if you are happy, then I am happy for you.

From the list of cards he has in his signature, he appears to be keeping the Discover and Venture cards.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 19:27:38 GMT

I'm happy for you!

Re: Going down to only 2 cards Major Closings!

creditguy — Tue, 12 Jul 2016 20:14:56 GMT

While I'm all for simplification and doing whatever you please, I'd consider holding onto at least three cards for optimal scoring purposes and I'd probably consider holding onto that walmart MC with a $10k CL for utilization purposes since the cards you are keeping have relatively low CL's. But it's your call, good luck.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 20:23:00 GMT

Well done. You're already 10 steps ahead in the credit game.

Use those 2 cards consistently and INTELLIGENTLY and your scores will grow into prime lending category over the coure of some years. Easy does it.

Re: Going down to only 2 cards Major Closings!

kdm31091 — Tue, 12 Jul 2016 20:43:53 GMT

@creditguy wrote:
While I'm all for simplification and doing whatever you please, I'd consider holding onto at least three cards for optimal scoring purposes and I'd probably consider holding onto that walmart MC with a $10k CL for utilization purposes since the cards you are keeping have relatively low CL's. But it's your call, good luck.

Most mere mortals in the regular world pay little to no attention to these things and seem to get by just fine.

While I wouldn't personally go down to 2 (I'd probably keep 3), it's not the end of the world and if OP feels it's best that's their choice.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 20:47:28 GMT

Good job

Re: Going down to only 2 cards Major Closings!

greent — Tue, 12 Jul 2016 21:00:51 GMT

Good for you. I've thought about only keeping two cards eventually or maybe 0. I'll probably do 2 then 0. Right now I'm having fun getting them and gardening them so it'll be a while.

Re: Going down to only 2 cards Major Closings!

wasCB14 — Tue, 12 Jul 2016 21:04:30 GMT

What made VentureOne a keeper?

I can understand the desire to simplify, especially when you have so many different logins. I'm at 13 cards and don't feel overwhelmed, but they are spread across only 6 logins.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 21:05:03 GMT

I'm happy for you! I can say once we get what we need, we will probably weed out quite a few cards also.

Re: Going down to only 2 cards Major Closings!

creditguy — Tue, 12 Jul 2016 21:14:00 GMT

@kdm31091 wrote:
@creditguy wrote:
While I'm all for simplification and doing whatever you please, I'd consider holding onto at least three cards for optimal scoring purposes and I'd probably consider holding onto that walmart MC with a $10k CL for utilization purposes since the cards you are keeping have relatively low CL's. But it's your call, good luck.
Most mere mortals in the regular world pay little to no attention to these things and seem to get by just fine.

While I wouldn't personally go down to 2 (I'd probably keep 3), it's not the end of the world and if OP feels it's best that's their choice.

True, it's not the end of the world, just giving my two cents, which is probably worth half that. OP is free to do as they please.

Re: Going down to only 2 cards Major Closings!

Credit_hawk — Tue, 12 Jul 2016 21:17:48 GMT

@wasCB14 wrote:
What made VentureOne a keeper?

I can understand the desire to simplify, especially when you have so many different logins. I'm at 13 cards and don't feel overwhelmed, but they are spread across only 6 logins.

VentureOne is yucky poo.

Re: Going down to only 2 cards Major Closings!

Anonymous514 — Tue, 12 Jul 2016 22:03:26 GMT

I've been thinking about it for the past 2 months I just am too tempted to spend even though my income just more than doubled. Also I worry what a mortgage lender would think aboutabout all of them. I will keep Discover and Venture One. They are my first credit cards. For now these will suffice. When I become a homeowner I will apply as needed for maybe a Lowes and or Home Depot. My goal now that I have a new Chevy Cruze and excellent credit is a trip to the garden to save money for a down payment. I will still be on here with updates about my Discover and Cap One.

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 22:04:28 GMT

@bigalkescott514 wrote:
So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.

OMG!!!! That's the worst idea I have ever heard. You must be...

Is that enough freak out for you? Most people won't react as it is your credit, they don't know you etc....

Re: Going down to only 2 cards Major Closings!

Anonymous — Wed, 13 Jul 2016 21:55:39 GMT

@bigalkescott514 wrote:
So I'm tired of having all of my cards so I'm closing my Walmart Mastercard, Citi Double Cash, Chase Unlimited, Wells Fargo Amex, BoA Cash Rewards, BP Visa, Paypal Xtras MC, Barclay Rewards any Meijers Mastercard. Everyone is going to freak out about this but oh well my credit my choice.

It may be a good idea to start with one or two, rather than all at the same time. You are right, it is your choice!

Re: Going down to only 2 cards Major Closings!

Loquat — Tue, 12 Jul 2016 22:13:43 GMT

@Credit_hawk wrote:
@wasCB14 wrote:
What made VentureOne a keeper?

I can understand the desire to simplify, especially when you have so many different logins. I'm at 13 cards and don't feel overwhelmed, but they are spread across only 6 logins.
VentureOne is yucky poo.

CapOne may be "yucky poo" as you put it...but if I were the OP I'd consider holding on to it as well. My reason would be because CapOne doesn't get "spooked" (as it's referred to around these parts) very easily in my experience. If you want to make a large purchase, carry a large balance, etc, they seem not to care as much as some lenders when they see said activity. Just my opinion...

Re: Going down to only 2 cards Major Closings!

Anonymous — Tue, 12 Jul 2016 22:40:36 GMT

Good for you.

I wish I could cut mine to three cards. Or even just five.