topic Re: So I'm thinking of dumping some cards.... in Credit Cards

So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 02:20:13 GMT

Not actually closing...just cutting the cards & letting the acct drop off.

Really tired of chase. Crappy little bumps in limits. Not to mention they make ya call to get an increase.

Lordy, we're not in the stone age. Give me a LUV button!

Had both cards a while & they're both still under $5k.

My total card limit out of 15 is 185k!

Might have to dump Citi too. Same nonsense...hit the button...denied.

Re: So I'm thinking of dumping some cards....

Anonymous — Sun, 07 Jan 2018 02:51:37 GMT

I can understand dumping you limit cards. What are you looking for in your next cc? Rewards, high limits, cash back etc

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 03:01:36 GMT

I'm not really looking for anything new.

I currently have a fairly sweet group that's serving me well:

Navy Fed Plat: 25k

Navy Fed Go: 10k

AMEX BCP: 22,700

Care Credit: 18k

Discover IT: 18k

Lowes: 18k

Nationwide Visa: 19,872 (I know...odd limit!)

TJ Maxx: 10k

NRA Visa: 13k

Sleep Number: 8k

Time to dump the dogs!!

Re: So I'm thinking of dumping some cards....

wasCB14 — Sun, 07 Jan 2018 03:56:17 GMT

If big limits and/or no-hassle CLIs matter most, then those are ideal candidates for closure.

Maybe your priorities will change and the cards will be appealing in the future...but, otherwise, it's better to just close the accounts than to stop using them and let them die from inactivity. Why bother to monitor an account that serves no use?

Re: So I'm thinking of dumping some cards....

Anonymous — Sun, 07 Jan 2018 04:39:20 GMT

ah my bad I must have read into that wrong. Yea if you are looking to cut ties with the turds of the group of cards you have those would be them.

Re: So I'm thinking of dumping some cards....

Anonymous — Sun, 07 Jan 2018 05:18:10 GMT

@BungalowMo wrote:
I'm not really looking for anything new.
Nationwide Visa: 19,872 (I know...odd limit!)

That would send my OCD into overdrive lol 😂

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 14:33:36 GMT

@Anonymous wrote:
ah my bad I must have read into that wrong. Yea if you are looking to cut ties with the turds of the group of cards you have those would be them.

Yea...I'm thinking so too!

@Anonymous wrote:

@BungalowMo wrote:
I'm not really looking for anything new.
Nationwide Visa: 19,872 (I know...odd limit!)

That would send my OCD into overdrive lol 😂

I know!!! LOL. I don't get it!!!

Re: So I'm thinking of dumping some cards....

atarvuzdar — Sun, 07 Jan 2018 15:44:50 GMT

Your scores are great and your non-Chase/Citi lineup far exceeds them. Makes sense to me unless the rewards for use on any of them are better than your other cards.

Re: So I'm thinking of dumping some cards....

Anonymous — Sun, 07 Jan 2018 17:59:27 GMT

@atarvuzdar wrote:
Your scores are great and your non-Chase/Citi lineup far exceeds them. Makes sense to me unless the rewards for use on any of them are better than your other cards.

Yes, IMO it's really only the rewards that matter. A high CL is worth approximately 0 (at best the time saved at having to pay off a heavily used low limit card frequently). I don't know which Chase cards you have, but for Freedom, a $1,500 CL is all you need to max out the rewards in a month. If the card is useless (perhaps the Slate) then fine, but I would never look soley at the CL to decide whether to keep a card, my 5x Citi forward had a CL 1/10th of my highest card, but was still very useful.

Re: So I'm thinking of dumping some cards....

xenon3030 — Sun, 07 Jan 2018 18:50:24 GMT

Chase has some no AF CCs with good cashback like Amazon (5%), Freedom (5% categories/quarter) or Freedom Unlimited (1.5%). As soon as the CL is above ~2k and PIF each month, possibly they are fine. If your CCs are eligible to PC, you might want to consider these CCs.

Freedom has 5% cashback in this quarter on Android Pay

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 20:26:36 GMT

@atarvuzdar wrote:
Your scores are great and your non-Chase/Citi lineup far exceeds them. Makes sense to me unless the rewards for use on any of them are better than your other cards.

Yeah....the rewards aren't that spectacular, especially when I can't purchase any big ticket items because the limits are so low.

I got an email offer for my Freedom card last summer for an increase, hit the button, got something like $250. Seriously?? The same day I apped for the FNB Omaha NRA Visa...bam...$13k.

It's really a no-brainer for me. An interesting side note...a couple years ago, Chase sold my mortgage too. I know that stuff happens all the time, but....

***While I am leaving this reply exactly as I wrote it, you will see below, I got a bit of schooling! Dang I used to be better at this! LOL

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 20:22:27 GMT

@Anonymous wrote:
@atarvuzdar wrote:
Your scores are great and your non-Chase/Citi lineup far exceeds them. Makes sense to me unless the rewards for use on any of them are better than your other cards.
Yes, IMO it's really only the rewards that matter. A high CL is worth approximately 0 (at best the time saved at having to pay off a heavily used low limit card frequently). I don't know which Chase cards you have, but for Freedom, a $1,500 CL is all you need to max out the rewards in a month. If the card is useless (perhaps the Slate) then fine, but I would never look soley at the CL to decide whether to keep a card, my 5x Citi forward had a CL 1/10th of my highest card, but was still very useful.

Very true! I will admit, I haven't been on top of the reward categories for my Freedom card. For instance, right now thru March, it's 5% back on Internet/Cable/Phone Services and at gas stations. I drive over 400 mi every week for work. That's a bit of a return right there.

Not seeing the forest for the trees, as they say. Thanks for the perspective/whack upside the head!!

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 20:31:39 GMT

@xenon3030 wrote:
Chase has some no AF CCs with good cashback like Amazon (5%), Freedom (5% categories/quarter) or Freedom Unlimited (1.5%). As soon as the CL is above ~2k and PIF each month, possibly they are fine. If your CCs are eligible to PC, you might want to consider these CCs.

Freedom has 5% cashback in this quarter on Android Pay

Yeah....I'm realizing the love I could get for the next 3 months on my Freedom card. With the 5% back on gas, phone, internet, and my DTV...yea, that could add up nicely! Like I told longtimelurker...sometimes I need a wake-up call!

Re: So I'm thinking of dumping some cards....

UpperNwGuy — Sun, 07 Jan 2018 23:36:46 GMT

Seems like you have plenty of credit distributed a large number of cards. Why were you seeking credit line increases?

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 23:39:18 GMT

@UpperNwGuy wrote:
Seems like you have plenty of credit distributed a large number of cards. Why were you seeking credit line increases?

I was just hoping to get those card limits up with the others. Same reason we all ask for more...especially when there is no HP.

Re: So I'm thinking of dumping some cards....

UpperNwGuy — Sun, 07 Jan 2018 23:44:03 GMT

@BungalowMo wrote:
@UpperNwGuy wrote:
Seems like you have plenty of credit distributed a large number of cards. Why were you seeking credit line increases?
I was just hoping to get those card limits up with the others. Same reason we all ask for more...especially when there is no HP.

"Same reason we all ask for more"?? Not all of us. I never ask for credit limit increases. I take things slowly, and the credit limit increases often come without my asking. But I sometimes don't see increases for years at a time. Patience is not only a virtue, but the banks appreciate it, too.

Re: So I'm thinking of dumping some cards....

BungalowMo — Sun, 07 Jan 2018 23:53:51 GMT

Point made....

I asked because I could. No harm, no foul. No hard pull.