topic Re: Closed NFCU Go Rewards. Trimming the fat. in Credit Cards

Closed NFCU Go Rewards. Trimming the fat.

MAZDA3 — Tue, 22 Jan 2019 05:54:03 GMT

Closed my $18k GoRewards. Next up is probably Citi Premier in March if they don’t extend a retention offer, then on the chopping block is TD Aeroplan in June. Want to free up some space for Arrival Plus in April.

With todays closure, i’m down to seven cards. I know many of you are aghast at such a low number.

Re: Closed NFCU Go Rewards. Trimming the fat.

Gmood1 — Tue, 22 Jan 2019 10:42:37 GMT

Lol, I believe you're sadly mistaken about the aghast part. As none of us care how many cards someone else has.😉
Well at least those that have as many as I do or more.
Now the 3 card carrying crew might feel a little different.😂
You can go down to zero, if it helps you sleep better.

Re: Closed NFCU Go Rewards. Trimming the fat.

Loquat — Tue, 22 Jan 2019 12:21:18 GMT

C'mon now...there's enough room in the sandbox for all of us to play. No need for the not so subtle jabs.

Re: Closed NFCU Go Rewards. Trimming the fat.

Anonymous — Tue, 22 Jan 2019 12:31:16 GMT

Not aghast at all. I am considering chopping my SSFCU card to go to seven myself. Eight cards is just too much. If a card isn’t worth it to you then close it. Some people like to have as many cards as possible, some people like to have just what they use, and some people only want a few. None of the answers are wrong as long as everyone uses them responsibly.

Re: Closed NFCU Go Rewards. Trimming the fat.

CreditInspired — Tue, 22 Jan 2019 13:44:45 GMT

Not aghast about 7 cards, but definitely aghast at your closing GoRewards 🤣. I would have just SD them.

But everybody has to do what’s good for them. I’m down to 8 and am actually handling them pretty well. Macy’s and DC are SD. Only bring out Disco when interested in categories. Only bring out Costco for gas. AmX ED only temporarily SD until I meet spend on Magnate.

Re: Closed NFCU Go Rewards. Trimming the fat.

CivalV — Tue, 22 Jan 2019 14:40:13 GMT

Oh if only there was a way to transfer that NFCU GO rewards CC to someone elses name 😂😭 *points at self*

Im still rebuilding but the goal is 3 major CCs and 3 store cards since I do shop like crazy. Nothing more. Im sick of paying 12 accounts every month 😂😩

Re: Closed NFCU Go Rewards. Trimming the fat.

pinkandgrey — Tue, 22 Jan 2019 14:34:50 GMT

It’s a good feeling, isn’t it? Simplifying your credit card game. I have a total of 6 but would like to get down to 3. I just have specific reasons to keep each card lol HELP ME

Re: Closed NFCU Go Rewards. Trimming the fat.

MAZDA3 — Tue, 22 Jan 2019 14:40:42 GMT

@CreditInspired wrote:
Not aghast about 7 cards, but definitely aghast at your closing GoRewards 🤣. I would have just SD them.

It was originally a balance transfer card, and I never used it to it’s full potential. Something lucrative will take it’s place in a few months. Looking at Flagship if it offers another generous SUB or Arrival Plus. I admit, I am partial to Mastercard because I can easily hit the spend requirement in 60 days paying my mortgage with Plastiq.

Re: Closed NFCU Go Rewards. Trimming the fat.

xaximus — Tue, 22 Jan 2019 16:02:15 GMT

Definitely a good idea to trim cards. I've been doing the same myself. No where close to 7 but plan on getting down under 10 in the next year or so.

Re: Closed NFCU Go Rewards. Trimming the fat.

Remedios — Tue, 22 Jan 2019 17:42:27 GMT

I've seen only a few instances of true 'trimming the fat' around these parts.

Most of the time, the fat just gets replaced with different fat, usually within weeks

Wash, rinse, repeat.

Re: Closed NFCU Go Rewards. Trimming the fat.

rbentley — Tue, 22 Jan 2019 17:49:28 GMT

@Remedios wrote:
I've seen only a few instances of true 'trimming the fat' around these parts.

Most of the time, the fat just gets replaced with different fat, usually within weeks
Wash, rinse, repeat.

^ Plus infinity! Exactly my observation. Plus, add those posts in which no fat was ever going to be trimmed, the poster just wants to backhand brag about the burden of their many cards. I do not say this in reference to the OP of this thread.

Re: Closed NFCU Go Rewards. Trimming the fat.

UpperNwGuy — Tue, 22 Jan 2019 18:05:23 GMT

I'm envious of you. I hate my Go Rewards card and would love to close it, but it's my oldest card by a long shot. The card number dates back to the 1980s when it was a plain vanilla Visa card. The 3% on restaurants is ok, but other cards now give 4% or 5% on restaurants. The redemptions totally suck. Minimum redemption is $50 for cash back. What other creditor does that in today's environment? I wish Navy Federal would get its act together and overhaul all four of its rewards cards to bring them up to date with their competitors.

Re: Closed NFCU Go Rewards. Trimming the fat.

rbentley — Tue, 22 Jan 2019 18:14:19 GMT

@UpperNwGuy wrote:
I'm envious of you. I hate my Go Rewards card and would love to close it, but it's my oldest card by a long shot. The card number dates back to the 1980s when it was a plain vanilla Visa card. The 3% on restaurants is ok, but other cards now give 4% or 5% on restaurants. The redemptions totally suck. Minimum redemption is $50 for cash back. What other creditor does that in today's environment? I wish Navy Federal would get its act together and overhaul all four of its rewards cards to bring them up to date with their competitors.

PC it to CashRewards and you will keep all your history and avoid the minimum $50 redemption. No Inquiry, no new account.

Re: Closed NFCU Go Rewards. Trimming the fat.

UpperNwGuy — Tue, 22 Jan 2019 18:22:25 GMT

@rbentley wrote:
@UpperNwGuy wrote:
I'm envious of you. I hate my Go Rewards card and would love to close it, but it's my oldest card by a long shot. The card number dates back to the 1980s when it was a plain vanilla Visa card. The 3% on restaurants is ok, but other cards now give 4% or 5% on restaurants. The redemptions totally suck. Minimum redemption is $50 for cash back. What other creditor does that in today's environment? I wish Navy Federal would get its act together and overhaul all four of its rewards cards to bring them up to date with their competitors.
PC it to CashRewards and you will keep all your history and avoid the minimum $50 redemption. No Inquiry, no new account.

My other NFCU card is a cashRewards (about 4 years old), and it has a slightly higher limit than the Go Rewards. I've heard NFCU will sometimes allow a person to have two of the same card if the second is the result of a product change, but that seems a bit risky.

Re: Closed NFCU Go Rewards. Trimming the fat.

Anonymous — Tue, 22 Jan 2019 18:31:06 GMT

@UpperNwGuy wrote:
@rbentley wrote:
@UpperNwGuy wrote:
I'm envious of you. I hate my Go Rewards card and would love to close it, but it's my oldest card by a long shot. The card number dates back to the 1980s when it was a plain vanilla Visa card. The 3% on restaurants is ok, but other cards now give 4% or 5% on restaurants. The redemptions totally suck. Minimum redemption is $50 for cash back. What other creditor does that in today's environment? I wish Navy Federal would get its act together and overhaul all four of its rewards cards to bring them up to date with their competitors.
PC it to CashRewards and you will keep all your history and avoid the minimum $50 redemption. No Inquiry, no new account.
My other NFCU card is a cashRewards (about 4 years old), and it has a slightly higher limit than the Go Rewards. I've heard NFCU will sometimes allow a person to have two of the same card if the second is the result of a product change, but that seems a bit risky.

NFCU will let you have 3 cashRewards cards if you choose. They don’t care which products you have as long as you manage them appropriately. Of course I would just ask them to combine the GO into the CR since there are no extra benefits like additional categories or anything to having two of them.

Re: Closed NFCU Go Rewards. Trimming the fat.

UpperNwGuy — Tue, 22 Jan 2019 19:51:48 GMT

@Anonymous wrote:
@UpperNwGuy wrote:
@rbentley wrote:
@UpperNwGuy wrote:
I'm envious of you. I hate my Go Rewards card and would love to close it, but it's my oldest card by a long shot. The card number dates back to the 1980s when it was a plain vanilla Visa card. The 3% on restaurants is ok, but other cards now give 4% or 5% on restaurants. The redemptions totally suck. Minimum redemption is $50 for cash back. What other creditor does that in today's environment? I wish Navy Federal would get its act together and overhaul all four of its rewards cards to bring them up to date with their competitors.
PC it to CashRewards and you will keep all your history and avoid the minimum $50 redemption. No Inquiry, no new account.
My other NFCU card is a cashRewards (about 4 years old), and it has a slightly higher limit than the Go Rewards. I've heard NFCU will sometimes allow a person to have two of the same card if the second is the result of a product change, but that seems a bit risky.
NFCU will let you have 3 cashRewards cards if you choose. They don’t care which products you have as long as you manage them appropriately. Of course I would just ask them to combine the GO into the CR since there are no extra benefits like additional categories or anything to having two of them.

Nope. That would lose 32 years of history on the Go Rewards card. Perhaps I should change the Go Rewards to a second cashRewards card as step one. Then as step two combine the two cards into the card number with the longest history.

Re: Closed NFCU Go Rewards. Trimming the fat.

Pikaboo-icu — Tue, 22 Jan 2019 20:08:26 GMT

Well I am aghast!!

Wait......

What does that mean exactly??

I'm teasin' I don't believe anyone here is going to have that strong of feelings about somebody else's CCs..

They may feel you've made an unwise choice or they may feel the opposite but it is YOUR choice and YOUR financial life.

♪♫♪ If you choose not to decide, you still have made a choice ♪♫♪

Re: Closed NFCU Go Rewards. Trimming the fat.

Gmoney144 — Tue, 22 Jan 2019 20:50:39 GMT

I had 3 NFCU CCs which are Cashrewards, Platinum and Amex. Closed the Amex and transferred the SL to the Platinum. Never used it and I already have 1 Amex co branded card and 3 Amex cards. Contemplating getting a second Platinum to take advantage of the 0% promotion and no fee. I do understand the OP opinion about trimming the fat, however I don’t use 12 cards monthly and therefore don’t track 12 accounts. Once my DW and I pay off our cc balances, we will definitely trim fat. I really don’t need Uber visa, Penfed and probably USAA visa.

Re: Closed NFCU Go Rewards. Trimming the fat.

MAZDA3 — Tue, 22 Jan 2019 21:18:18 GMT

@Remedios wrote:
I've seen only a few instances of true 'trimming the fat' around these parts.

Most of the time, the fat just gets replaced with different fat, usually within weeks
Wash, rinse, repeat.

I'm likely going to open one after closing three. My pre-check expires in May and i'd like a card that offers a $100 GE credit. I just realized Arrival Plus does not offer a credit, but NFCU Flagship does. I think Venture does too? But I need for my BK to fall off EQ since they pull all three. The new IHG does and I have the old IHG but not sure about Chase and my IIB so may be pushing it app'ing for the new IHG. I won't app for Flagship unless they are offering a SUB at that time.

And ultimately I need to build up my Alaska points so in six months after opening whatever will pay for GE, I might app for Alaska. But something else will need to be closed. I'm really trying to keep myself at 8 max cards.

Re: Closed NFCU Go Rewards. Trimming the fat.

TheBoondocks — Tue, 22 Jan 2019 21:25:09 GMT

I have 17 right now and yeah there's maybe a few cards that I don't use at all, and I think it's a year old but is it worth closing it? I know TPG closed like 10+ cards already, I would be scared to cause I heard it affects your credit history and why would you close a no annual fee card lol? It's just the hassle of putting a spend on it and paying off when you don't have to and I understand but over the years it does add up.