topic Re: New year, Not new me closures! in Credit Cards

New year, Not new me closures!

pizza1 — Sun, 13 Jan 2019 19:28:18 GMT

Another round of closures today! Im sure some will say good for you, others will say no af so no harm in keeping open, LOL.. Thats what I love about our community here!!

Anyways, my cards and available credit were getting out of hand again, so closed a few down..7 cards/$74.5k (its a start).

Honestly, I need to shed another $100k, but I have no idea how that will happen with my other cards, LOL..I love the rest of them

One's I closed today:

Macys-$25k

Bloomingdales-$25k

Brooks Brothers MC--$7k

Banana Republic Visa-$8k

Williams-Sonoma-$2k

Shell gas-$2.5k

Bispay-$5k (done awhile back)

Re: New year, Not new me closures!

NRB525 — Sun, 13 Jan 2019 19:27:39 GMT

Congrats for making the choice to close.

What does your entire list of accounts look like?

In round numbers it looks like you want to cut almost half of your limits?

Re: New year, Not new me closures!

Anonymous — Sun, 13 Jan 2019 19:31:06 GMT

I do not currently have a gas only card.

However, while gas specific cards generally have lower rewards than more general cards, fraudulent charges are restricted to purchases at the gasoline vendor.

I am tempted to get one for that reason.

Not sure about everyone else, but I am sure that in the past I have missed fraudulent charges that were small enough not to question.

For that reason I would have suggested keeping the Shell card.

Re: New year, Not new me closures!

pizza1 — Sun, 13 Jan 2019 19:32:34 GMT

@NRB525 wrote:
Congrats for making the choice to close.
What does your entire list of accounts look like?

In round numbers it looks like you want to cut almost half of your limits?

With the closures, Im still at 19 cc's/$294k avail credit...($314k if you add in my CLOC&PLOC).

Re: New year, Not new me closures!

pizza1 — Sun, 13 Jan 2019 19:40:46 GMT

@Anonymous wrote:
I do not currently have a gas only card.
However, while gas specific cards generally have lower rewards than more general cards, fraudulent charges are restricted to purchases at the gasoline vendor.
I am tempted to get one for that reason.
Not sure about everyone else, but I am sure that in the past I have missed fraudulent charges that were small enough not to question.
For that reason I would have suggested keeping the Shell card.

True, but if I had fraudulent charges on my majors, Im still not responsible for those either. This was just another card for me to try and remember to use and keep track of, and I havent used it in 6 months, so...

Re: New year, Not new me closures!

wasCB14 — Sun, 13 Jan 2019 20:33:04 GMT

What was the lost appeal of Brooks Brothers?

I closed my store card in 2017 when I moved to an area without a convenient location (and a more casual environment in CA vs. NY). The extra benefits I was getting from that card (that I didn't get from being on the email list) were only really relevant in-store, making the card a bit useless.

I still buy the clothes online, but use a Citi or Amex card.

Re: New year, Not new me closures!

wasCB14 — Sun, 13 Jan 2019 20:37:54 GMT

@pizza1 wrote:
@Anonymous wrote:
I do not currently have a gas only card.
However, while gas specific cards generally have lower rewards than more general cards, fraudulent charges are restricted to purchases at the gasoline vendor.
I am tempted to get one for that reason.
Not sure about everyone else, but I am sure that in the past I have missed fraudulent charges that were small enough not to question.
For that reason I would have suggested keeping the Shell card.
True, but if I had fraudulent charges on my majors, Im still not responsible for those either. This was just another card for me to try and remember to use and keep track of, and I havent used it in 6 months, so...

What is customer service like on gas-only cards? On one hand, the card likely operates on a low budget. On the other, there's not a whole lot staff would need to be trained to handle.

Re: New year, Not new me closures!

pinkandgrey — Sun, 13 Jan 2019 20:55:58 GMT

Congrats, Pizza! I hate unused cards lying around too! I also have a few that I want to close but love.... LOL

Re: New year, Not new me closures!

Anonymous — Sun, 13 Jan 2019 21:03:48 GMT

Yay for simplification.
I'm going for quality over quantity in my portfolio, too.

Re: New year, Not new me closures!

AverageJoesCredit — Sun, 13 Jan 2019 23:33:57 GMT

No Af so no harm in keeping open but GOOD FOR YOU!😁

Re: New year, Not new me closures!

AverageJoesCredit — Sun, 13 Jan 2019 23:35:47 GMT

OMG, NOT THE BLISS🤯😱😳😄

Re: New year, Not new me closures!

CreditInspired — Sun, 13 Jan 2019 23:44:44 GMT

Good for you @pizza. Congratulations to trimming the fat. I bet the load not only feel lighter, but better. And since they’re all retail cards, I’m willing to bet you’re not going to miss them.

Re: New year, Not new me closures!

AverageJoesCredit — Mon, 14 Jan 2019 00:18:38 GMT

Lol @CreditInspired, im sure she'll miss them, many of us saw her joy in getting those limits up there but she's got bigger fish to fry so sacrifices must be made

Re: New year, Not new me closures!

pipeguy — Mon, 14 Jan 2019 00:50:13 GMT

I know the planets must have aligned if Pizza is closing cards. Good for you Pizza, I sure don't see anything on that list worth keeping (other than possible utility and BlisPay is gone anyway).

In a few months, I'm retiring and moving way south where there is no snow, I'm going to take a major ax to my card portfolio and take my 24 cards down to maybe 6 ($400k limits to maybe $100-$150k) it'll be interesting too how my scores react with that many cards "closed by cardholder". Funny thing is once I get my new mortgage through NFCU, I really don't care

Re: New year, Not new me closures!

AverageJoesCredit — Mon, 14 Jan 2019 00:48:46 GMT

Thats the ticket @pipeguy. 6 cards will swipe just as easily as 24

Re: New year, Not new me closures!

Eagered2succeed — Mon, 14 Jan 2019 02:16:05 GMT

@Anonymous wrote:
I do not currently have a gas only card.
However, while gas specific cards generally have lower rewards than more general cards, fraudulent charges are restricted to purchases at the gasoline vendor.
I am tempted to get one for that reason.
Not sure about everyone else, but I am sure that in the past I have missed fraudulent charges that were small enough not to question.
For that reason I would have suggested keeping the Shell card.

With chase pay you can use your phone to pay at the pump which means no card info exchanged at the pump(since it gives you a four digit code to type in) fast, convenient and very safe experience.

Re: New year, Not new me closures!

FinStar — Mon, 14 Jan 2019 19:02:41 GMT

@pizza1 wrote:
Another round of closures today! Im sure some will say good for you, others will say no af so no harm in keeping open, LOL.. Thats what I love about our community here!!

Anyways, my cards and available credit were getting out of hand again, so closed a few down..7 cards/$74.5k (its a start).

Honestly, I need to shed another $100k, but I have no idea how that will happen with my other cards, LOL..I love the rest of them

One's I closed today:
Macys-$25K Blasphemy!
Bloomingdales-$25K More Blasphemy! 😄
Brooks Brothers MC--$7k ok
Banana Republic Visa-$8k ok
Williams-Sonoma-$2K definitely yes
Shell gas-$2.5k ok
Bispay-$5k (done awhile back) well, even Miss Cleo saw that one coming 😆

Kidding aside, at the end of the day, if this makes you happy then so be it. Plus if you have a mortgage on the horizon, never hurts to review and make some adjustments to your existing portfolio.

Re: New year, Not new me closures!

Anonymous — Mon, 14 Jan 2019 19:21:51 GMT

I can probably cut my entire chase line up, amex ed and one of the 2% card when I stop working. No need for high score when you dont need loans. lol

Re: New year, Not new me closures!

Anonymous — Tue, 15 Jan 2019 01:12:18 GMT

Congrats Pizza. Now the real test is if you can hold yourself back from applying for new CC's.

Re: New year, Not new me closures!

newmomnewme — Tue, 15 Jan 2019 02:10:29 GMT

@pizza!!! Long time my friend. Isn't it awesome to be able to close some? We started our rebuild together....I am on rebuild 3.0 now.