topic Re: Help simplify my life in Credit Cards

Help simplify my life

Anonymous — Mon, 18 Sep 2017 06:06:07 GMT

So I decided I'm closing a few accounts that I don't use or I just don't want, so here is the list of accounts I have

1) chase amazon visa signature $2000 (My Go to card)

2) discover it $2,300 (second go to card + first year Double cash)

3) Amex PRG

4) Amex Everyday

5) citi diamond $2,800

6) gap

7) QS1 $1,100

8) CAP1 secured $500

9) care credit

10) Amex Blue Plus (business so it doesn't count)

im definitely closing the Gap card, Capital one secured, care credit probably since I have the diamond with 21 months of 0apr i can use it for emergencies, so that would leave me with 6 cards I feel like that's too much still.. the Quicksilver is kinda boring to me plus I don't use it except for Netflix and Spotify (half price promotion) I feel like 5 cards would be enough maybe even 4.. so if you guys could give me and input on which cards I don't need or should close I'm open to it.

As of now the main card should I will keep at are the amazon prime, discover and diamond.

Also so I applied for the PayPal 2% cash back to replace my QS and I got a letter stating that I couldn't be approved for the card because I recently was approved for another PayPal product?????? What? I did have the PayPal extras but I closed it..

my scores are TU 736 EX 715 EQ 721

about 35 total inquiries most should fall of in 2018

i did just apply for the fidelity 2% but I got the 7-10 day message so I probably got denied .

so anyways help a brotha out,

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 11:11:25 GMT

@Anonymous wrote:
So I decided I'm closing a few accounts that I don't use or I just don't want, so here is the list of accounts I have
1) chase amazon visa signature $2000 (My Go to card)
2) discover it $2,300 (second go to card + first year Double cash)
3) Amex PRG
4) Amex Everyday
5) citi diamond $2,800
6) gap
7) QS1 $1,100
8) CAP1 secured $500
9) care credit
10) Amex Blue Plus (business so it doesn't count)

im definitely closing the Gap card, Capital one secured, care credit probably since I have the diamond with 21 months of 0apr i can use it for emergencies, so that would leave me with 6 cards I feel like that's too much still.. the Quicksilver is kinda boring to me plus I don't use it except for Netflix and Spotify (half price promotion) I feel like 5 cards would be enough maybe even 4.. so if you guys could give me and input on which cards I don't need or should close I'm open to it.
As of now the main card should I will keep at are the amazon prime, discover and diamond.

Also so I applied for the PayPal 2% cash back to replace my QS and I got a letter stating that I couldn't be approved for the card because I recently was approved for another PayPal product?????? What? I did have the PayPal extras but I closed it..

my scores are TU 736 EX 715 EQ 721
about 35 total inquiries most should fall of in 2018
i did just apply for the fidelity 2% but I got the 7-10 day message so I probably got denied .

so anyways help a brotha out,

Agreed on closing GAP and Cap1 Secured and Care Credit.

PC the Diamond to DC (Double Cash). If they allow it (including retention of the 0%), perfect; close the QS1 after the Spotify promo is over. Otherwise, seek upgrade to QSR to ditch the AF. (You could also recon Paypal with Synch, but, at least on paper, DC has better perks than PP.)

If Chase Amazon is your daily driver, are you sure the PRG is worth the AF to you? Depending on your spending (If you buy a lot of groceries, since you already get 2% for gas on the Chase Amazon), it may be worthwhile to PC the ED to BCE and close the PRG.

Also, which Disco do you have? If it's the regular one, friendly reminder that Q4 is Amazon, so with the Cashback Match it's better than your Chase Amazon.

Re: Help simplify my life

MrDisco99 — Mon, 18 Sep 2017 12:40:26 GMT

If you're not heavily rotating those Amex MR cards to get transferrable airline miles, you're better off just ditching those cards. Especially the PRG and its $195 AF.

Re: Help simplify my life

UpperNwGuy — Mon, 18 Sep 2017 14:14:41 GMT

@MrDisco99 wrote:
If you're not heavily rotating those Amex MR cards to get transferrable airline miles, you're better off just ditching those cards. Especially the PRG and its $195 AF.

I agree. Dump the Amex cards. You're losing money on the PRG if it isn't your primary card, and the MR points on both cards will be useless if you don't earn enough of them to permit a decent redemption.

Alternatively, you could make your two Amex cards your primary cards and demote the Amazon and the Discover. You really need to reassess your credit card goals. Do you want cash back or transferable points? Pick one and focus on it. Oherwise you'll be a mile wide and an inch deep.

Cards #7-9 can all be dropped. If you have a PRG, you don't need credit-builder cards.

Re: Help simplify my life

HeavenOhio — Mon, 18 Sep 2017 15:09:56 GMT

You want to keep three major revolvers as that's ideal for scoring. And I'd suggest that at least two cards be MasterCard or Visa.

I'd call Capital One to see if the QS1 can be product-changed into a no-fee Quicksilver. If there isn't a PC offer right now, keep using it each and every month and calling about offers each month. My two QS1s were able to be PCed after about twelve consecutive months of charges and payments.

Re: Help simplify my life

driftless — Mon, 18 Sep 2017 15:58:34 GMT

I will be a little bit of a contrarian, I would keep all of the Amex cards plus the Citi and Discover and close everything else and then garden until your inquiries fall off.

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 18:16:23 GMT

its the one with rotating categories so yes amazon for 4th quater will be better than my Pime card, i tottaly forgot about that, as for the PRG i only have it because i get random offers for 25k points if i spend 1000 or 2000 in 3 months, thats an easy 25k lol

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 18:19:39 GMT

i mean im constantly putting in 1k on the PRG so it gets its use but ill likely close it or change it to the Green (utilization purposes) that way i will still keep getting offers for easy 25k points, as for the everyday they just wont budge of the starting limit they gave me.

Re: Help simplify my life

K-in-Boston — Mon, 18 Sep 2017 18:22:59 GMT

@Anonymous wrote:
its the one with rotating categories so yes amazon for 4th quater will be better than my Pime card, i tottaly forgot about that, as for the PRG i only have it because i get random offers for 25k points if i spend 1000 or 2000 in 3 months, thats an easy 25k lol

Wow, even if you're just cashing the MRs out for gift cards that's phenomenal and more than pays for the AF even if you just get it once a year. Best they offer me these days is "Spend $5,000 and get 5k bonus points up to 3 times this month," and I won't reallocate my spending for such a low return.

@Anonymous wrote:
i mean im constantly putting in 1k on the PRG so it gets its use but ill likely close it or change it to the Green (utilization purposes) that way i will still keep getting offers for easy 25k points, as for the everyday they just wont budge of the starting limit they gave me.

If you can use the $100 airline credit each year, the Green card becomes more expensive than the PRG.

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 18:22:56 GMT

ive had the secured card for 2 years and no offer to unsecure it so im closing it as we speak. as for the QS1 im thinking of closing it since i barely use it..

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 18:32:02 GMT

right i know the 25k pints caught me by surprise, i mean ive only had the PRG for about 7 months and im already up to 75k points from the offers, so thats why i would like to get the green as a replacement to the PRG so i keep getting this offers, i know its probably one of the worst amex cards but ill still use it, plus i dont fly often so like you said if i get a 25k offer once a year it covers the annual fee easily, i might even close the everyday card since ive havnt received an offer

Re: Help simplify my life

K-in-Boston — Mon, 18 Sep 2017 18:32:16 GMT

Wow, that's just insane. I've easily run over half a million through my charge cards over the years and never got that kind of offer! I'd be afraid to product change if I kept getting those offers, to be honest.

Re: Help simplify my life

Anonymous — Mon, 18 Sep 2017 18:42:41 GMT

i mean i think that might have been a fluke, i cant guarantee i will keep getting the same offers after my first year but yeh its crazy, since i had the PRG for around 7 months and ive charged about 8k on ...... but yeah i dont fly often so the in reality i dont see a good use for the card other than the offers, and i know the green has a horrible rewards system but in all honesty if i get one offer a year (maybe who knows) that would more than cover the anual fee, plus the offers of some extra points dont make the card completely trash.