topic Re: One Card Too Many?? in Credit Cards

One Card Too Many??

Anonymous — Wed, 29 Jul 2020 19:03:43 GMT

I have four bank cards at this time:

AMEX BCP ($30000): for 6% groceries and 3% gasoline

Chase Freedom($28200): Quarterly promotions at 5%

Citi DC ($24,000): for 2% on everything except above

Kroger Mastercard ($10000): for groceries

I basically have NO use for Kroger ($10000 limit). I got it in an impulsive bored moment in early June. I use AMEX BCP for Groceries about 11 months a year (when I hit the $6000 limit) and finish off the year with Citi DC at 2%. Kroger's percentages are 3 points per dollar if spent on their "house" brands, 2 points if used in the Kroger "family" of stores, and 1 point if used anywhere else. 1000 points gets you a $10 kroger certificate which can only be used in their stores.

I did earn a $100 opening bonus for spending $500 on the Kroger card in the first three months.

Other than that, I see no possible future use for this card, and with Citi DC, never outside of their stores..

I can SD it and let it get canceled, eventually. Or I could use it occasionally, but I really see no future for this card.

Any thoughts??

Re: One Card Too Many??

CYBERSAM — Wed, 29 Jul 2020 19:24:03 GMT

Close it if you don't want it! Most people keep extra cards for utilization, but if your paying your balance every month then all you need is 3 cards to maximize your FICO score.

Less cards to carry and keep track of 😎

Re: One Card Too Many??

Anonymous — Wed, 29 Jul 2020 19:33:02 GMT

Make sure to read the terms about the bonus and rewards on the Kroger card, as closing it too early may result in the bonus being clawed back. Which bank issues that card?

Re: One Card Too Many??

Anonymous — Wed, 29 Jul 2020 19:40:50 GMT

I shop at Kroger usually 2 or 3 times a month and ice gotten the mailers and emails for the card, but I havent applied. I wasnt crazy about the reward system.

Re: One Card Too Many??

macinjosh — Wed, 29 Jul 2020 19:43:44 GMT

@Anonymous wrote:
Make sure to read the terms about the bonus and rewards on the Kroger card, as closing it too early may result in the bonus being clawed back. Which bank issues that card?

Kroger Mastercard is issued by US Bank.

Re: One Card Too Many??

blindambition — Wed, 29 Jul 2020 20:01:45 GMT

I use Smiths in Vegas, which is a Kroger brand. Yeah, the bonus structure is pretty weak.

I'd hold card a year at least. You got the SUB. Show US Bank some good faith, in case you apply for one of their cards in the future.

Re: One Card Too Many??

FieryDance — Wed, 29 Jul 2020 22:09:52 GMT

There could be some use yet. Would having this card make one eligible for Altitude Reserve? Would US Bank allow PC of this card?

I agree with keeping it for at least a year.

Re: One Card Too Many??

kdm31091 — Wed, 29 Jul 2020 23:19:16 GMT

There is no pressing need to close it since it has no fee, but I would agree it does not seem very useful compared to your other cards. I think it's fine to close cards you got on impulse and later regret, etc, as long as you are not making a habit of doing it constantly (which would appear to the issuers as churning). But if you just closed it, since you have 3 other cards with huge limits, it's unlikely it would hurt you much if at all.

Re: One Card Too Many??

KLEXH25 — Wed, 29 Jul 2020 23:40:08 GMT

I would SD the card until it hits a year and then close it.

Re: One Card Too Many??

pinkandgrey — Thu, 30 Jul 2020 01:47:58 GMT

@CYBERSAM wrote:
Close it if you don't want it! Most people keep extra cards for utilization, but if your paying your balance every month then all you need is 3 cards to maximize your FICO score.
Less cards to carry and keep track of 😎

@CYBERSAM This is a perfect answer. I have no need to say anything else lol

Re: One Card Too Many??

Shooting-For-800 — Thu, 30 Jul 2020 10:59:49 GMT

I wish it took us 11 months to spend $6k on groceries!

Re: One Card Too Many??

UpperNwGuy — Thu, 30 Jul 2020 19:29:58 GMT

I would close the Kroger card right away.

Re: One Card Too Many??

staticvoidmain — Thu, 30 Jul 2020 21:36:45 GMT

I personally would keep it and just SD it, at least for a while.

I mean, are you certain the Kroger stores you go to will remain under the same Amex category? Not all Kroger brand stores are considered a US Supermarket category (in my region, Fred Meyer and QFC are Kroger stores, and Fred Meyer is NOT a US supermarket category). What if one day Kroger changes their category or worse, just stopped accepting Amex (hello, Costco)?

(I have an SD'd card (Sam's Club) that I probably will never use again unless I move to a different location. I tried to close it once, they tried to convince me not to, and I just decided to keep it (no membership required). Part of me wants to just get rid of it because I can be obsessive-compulsive, but the $15K padding ain't bad in my book, as is the $10K on yours, IMHO. You already took the HP for it.)

Re: One Card Too Many??

Anonymous — Fri, 31 Jul 2020 03:15:13 GMT

I’m sorry I have to disagree. I think you should just SD the card. It will help you with the mortgage scores in case you ever need a mortgage. If it’s not hurting you, let it sit; if they close it, they close it. Jmo.

Re: One Card Too Many??

SouthJamaica — Fri, 31 Jul 2020 03:39:47 GMT

@Anonymous wrote:
I have four bank cards at this time:

AMEX BCP ($30000): for 6% groceries and 3% gasoline
Chase Freedom($28200): Quarterly promotions at 5%
Citi DC ($24,000): for 2% on everything except above
Kroger Mastercard ($10000): for groceries

I basically have NO use for Kroger ($10000 limit). I got it in an impulsive bored moment in early June. I use AMEX BCP for Groceries about 11 months a year (when I hit the $6000 limit) and finish off the year with Citi DC at 2%. Kroger's percentages are 3 points per dollar if spent on their "house" brands, 2 points if used in the Kroger "family" of stores, and 1 point if used anywhere else. 1000 points gets you a $10 kroger certificate which can only be used in their stores.

I did earn a $100 opening bonus for spending $500 on the Kroger card in the first three months.

Other than that, I see no possible future use for this card, and with Citi DC, never outside of their stores..

I can SD it and let it get canceled, eventually. Or I could use it occasionally, but I really see no future for this card.

Any thoughts??

Me, I would keep it and use it some times.