topic Re: Culling the herd over last 15 months, results. in Credit Cards

Culling the herd over last 15 months, results.

nccarguy1 — Thu, 26 Jun 2025 23:56:32 GMT

I'm going to retire in December and planning significant travel over the first 18 months. I've played the game well and amassed a significant number of points, cash and miles through sign up bonuses and spend. 15 months ago I had 42 credit cards across most every major lender. I kept no balances and had scores in the high 700- low 800's. 30+ year credit history with no derogs.

I was concerned about FICO scores dropping when I closed accounts. Through today I have closed 17 cards with just over $375,000 in credit lines. My scores slowly crept up, now mid 800's. I never saw my scores dip when a closed account went on my bureaus. Even though I have significant credit lines available I do see a point or 2 loss occasionally when a small ($1000-2000) statement posts, but weeks later the points return for no particular reason. I've applied for 1 new card, Chase Hyatt about 3 months ago and my Experian score dropped 13 points and has not returned!

My goal is to cut 9 cards by December to bring me to 16. Then it will get tough, thinking I can get to maybe 10-12 cards that I will use mostly for travel. I know most on here are looking to add cards and look for data points but hope this helps anyone nervous about cutting back on cards.

Re: Culling the herd over last 15 months, results.

Gmoney144 — Fri, 27 Jun 2025 08:20:54 GMT

@nccarguy1 wrote:
I'm going to retire in December and planning significant travel over the first 18 months. I've played the game well and amassed a significant number of points, cash and miles through sign up bonuses and spend. 15 months ago I had 42 credit cards across most every major lender. I kept no balances and had scores in the high 700- low 800's. 30+ year credit history with no derogs.

I was concerned about FICO scores dropping when I closed accounts. Through today I have closed 17 cards with just over $375,000 in credit lines. My scores slowly crept up, now mid 800's. I never saw my scores dip when a closed account went on my bureaus. Even though I have significant credit lines available I do see a point or 2 loss occasionally when a small ($1000-2000) statement posts, but weeks later the points return for no particular reason. I've applied for 1 new card, Chase Hyatt about 3 months ago and my Experian score dropped 13 points and has not returned!

My goal is to cut 9 cards by December to bring me to 16. Then it will get tough, thinking I can get to maybe 10-12 cards that I will use mostly for travel. I know most on here are looking to add cards and look for data points but hope this helps anyone nervous about cutting back on cards.

I understand culling credit cards. I had 25 credit cards and I've closed 11. However, I added CFU for transfer balance, CSP for points, Amex Platinum for points and Citi-Custom Cash. Eventually I'll combine the CFU and CFP, cancel the Platinum and cancel Citi-Costco. Also on the chopping block is the USAA Amex and Chase ink Cash. 10 credit cards is all I need for cash back and points.

Re: Culling the herd over last 15 months, results.

FlaDude — Fri, 27 Jun 2025 17:28:50 GMT

@nccarguy1 wrote:
I was concerned about FICO scores dropping when I closed accounts.

Unless closing a CC account increases your aggregate CC utilization, it should not negatively affect your score. Closed accounts stay on your report for up to 10 years for aging purposes, so closing CC accounts won't cause your average (or oldest) account metrics to change in the short term.

Total CL is not a FICO score factor so whether it is 10k or 500k doesn't make a difference if you don't report any balances. From what I recall reading here, you only need 3 cards for max scores so as long as you don't go below that, you should be good.

Re: Culling the herd over last 15 months, results.

Patient957 — Fri, 27 Jun 2025 18:17:21 GMT

@nccarguy1

Congrats on your retirement and success in the credit card game. A well-deserved 18 months of travel, I'm sure.

"Closing credit card accounts hurts your Fico score" is a myth that just won't die and is perpetuated by credit card youtubers who are just repeating what they've heard.

What actually can hurt scores in some cases is *opening* credit cards, not closing them.

It's often cited as best practice, especially for those with young thin files, to keep no-AF cards open in the SD rather than closing them, because it generally helps age and utilization metrics. Somehow that's gotten misinterpreted and repeated a zillion times as "closing accounts will hurt your Fico score."

I guess the distinction between "best to keep it open" and "penalty if you close" is too subtle for certain people with the loudest mouths and biggest platforms.

/rant

Re: Culling the herd over last 15 months, results.

markhs777 — Sat, 28 Jun 2025 00:27:43 GMT

I understand that closing unused cards can reduce potential fraud and maybe give one a better chance of not being declined for a new card for having too much available credit.

That being said what's the downside of keeping a no fee open. Never know when an offer comes along. Maybe slight but some scoring models do consider average age of open accounts.

Me personally have never closed a no fee card.

Re: Culling the herd over last 15 months, results.

Thomas_Thumb — Sat, 28 Jun 2025 01:14:55 GMT

Good work closing those cards! Keep it up. No benefit in maintaining a hoard of excess baggage.

I'm retired and have 5 cards now (plus 1 AU) but never had more than 10 on file. Over trimming of cards may result in anxiety for those with large portfolios. However, if score dropping is the concern, five cards is sufficient.

The OP's goal of dropping to 10-12 active cards won't hurt.

Re: Culling the herd over last 15 months, results.

indiolatino61 — Sat, 28 Jun 2025 01:52:02 GMT

@nccarguy1 wrote:
I'm going to retire in December and planning significant travel over the first 18 months. I've played the game well and amassed a significant number of points, cash and miles through sign up bonuses and spend. 15 months ago I had 42 credit cards across most every major lender. I kept no balances and had scores in the high 700- low 800's. 30+ year credit history with no derogs.

I was concerned about FICO scores dropping when I closed accounts. Through today I have closed 17 cards with just over $375,000 in credit lines. My scores slowly crept up, now mid 800's. I never saw my scores dip when a closed account went on my bureaus. Even though I have significant credit lines available I do see a point or 2 loss occasionally when a small ($1000-2000) statement posts, but weeks later the points return for no particular reason. I've applied for 1 new card, Chase Hyatt about 3 months ago and my Experian score dropped 13 points and has not returned!

My goal is to cut 9 cards by December to bring me to 16. Then it will get tough, thinking I can get to maybe 10-12 cards that I will use mostly for travel. I know most on here are looking to add cards and look for data points but hope this helps anyone nervous about cutting back on cards.

Re: Culling the herd over last 15 months, results.

ElvisCaprice — Sat, 28 Jun 2025 09:07:13 GMT

Would be nice to hear your thinking on which cards you kept and why, along with those you closed. Congrats on retirement!!!

Re: Culling the herd over last 15 months, results.

creditrizz — Sat, 28 Jun 2025 09:29:21 GMT

Since you have had so many cards, I was wondering if you could give us any insight into any of the lenders that don't close accounts, or reduce credit lines, due to the cards not being used? And which ones are the most militant about taking action on unused/underused accounts.

I've closed a few recently and it was mostly because I didn't feel like remembering to make charges on them every 6 months or so. No affect on the score, but I'm still at a very low overall utilization that didn't change from closing them out.

Re: Culling the herd over last 15 months, results.

nccarguy1 — Sat, 28 Jun 2025 11:46:26 GMT

I'll start with cards I closed:

Apple Card, (3) BofA cards, Travel Rewards, Cash Rewards, BankAmericard - Breakup with ML and BofA, Amex Blue Cash

Barclay AA Aviator, British Airways Visa, (2) Citi, Double Cash and Costco - nerfed the extra warranty coverage

US Bank Cash + - then converted a useless US Bank card with 20 year history to Cash+, USAA Preferred Cash Rewards

PNC Cash Rewards, Wells Fargo Active Cash, Care Credit, Cathay Pacific Visa, Macy MC or Visa, can't remember

Nordstrom Visa.

it will take a moment to list what I've kept.

Re: Culling the herd over last 15 months, results.

Jnbmom — Sat, 28 Jun 2025 12:06:46 GMT

My experience with a few lenders that were closed due to lack of use.

FNBO

BMO

Citibank

Capital One

PENFED

synchrony

commenity

Re: Culling the herd over last 15 months, results.

LivingTheAmericanDream — Sat, 28 Jun 2025 17:09:25 GMT

Congratulations on your upcoming retirement and travel: enjoy! And thanks for sharing all the data/info. I'm getting ready to close some accounts also.

My experience w/unused/underused accounts: PenFed was quick to cut my CL. Comenity closed an account.

Re: Culling the herd over last 15 months, results.

nccarguy1 — Sat, 28 Jun 2025 21:53:52 GMT

To answer cards I have not closed,

Amex Platinum. One of 2 cards I am on the fence with. Biggest reason in the past was lounge access. But with Cap 1 lounges, Sapphire and Delta and AA lounges not much of a reason. I agree with ,any posters that the majority of benefits are a B.S. coupon scheme with little value. The international ticket program seems to save a couple of hundred per year. We will see.

LoAmex Delta Reserve. The companion ticket saves me $1000 per year with addition of Mexico and Central America Scandinavian some of the lounges are amaxing in my IMHO, so keeper

Amex Hilton Aspire. Diamond means nothing in US but have gotten crazy upgrades. Free night got me $1200 room in Cabo and I use the credits semi yearly, so keeper.

Amex Marriott. I have Titanium Lifetime so only use $95 AF card. Probably keep.

Bread Amex. Have no idea why I got. Gone soon.

Cap 1 Venture X. 10,000 points at anniversary, $300 travel credit and good international airline transfer, awesome lounges. Keeper.

Chase Sapphire Reserve. Even with new fee structure 8X for airline tickets, Travel and hotel credit. Yes, please!

Chase Hyatt. Low AF, best hotel program. Keeper.

Citi Prestige. Annual travel credit, 5X restaurants, 4th night free, no brainer. keeper

Citi AA Executive. lounge access and that is about it. Cancel or down grade.

Discover It. Dump.

Discover It Miles. Got for double first year points. Dump.

Fidelity Visa. Just another 2% card. Dump.

FNBO Evergreen. Just another 2% card. Dump

Gemini. Must have been drunk..Dump.

NASA FCU. Dump.

NFCU Flagship. Max $80k limit, 2% card, been a member for 40? years and have have Prime paid for 4 years. Keep.

PNC Unlimited. Dump

Penfed. Platinum Rewards. Some good categories, good relationship. Probably keep.

Penfed. Power cash. Again, another 2% card. Dump.

US Bank Smartly. Obtained when first offered. Still getting 4%. Ride or die on this one.

US Bank Altitude Reserve. Obtained first day offered. $300 credit, 3% mobile, redeem at 1.5. Yes, please. Keeper

US Bank Cash+. $300 a year on utilities, no AF. Not sure it's worth it. Not sure.

WF Autograph. Another 2%. Dump.

USAA Rewards. Long relationship, crappy rewards. Dump.

Thought? Sorry this is so long, hurts my head to write, probably hurts to read.

Re: Culling the herd over last 15 months, results.

ElvisCaprice — Sat, 28 Jun 2025 22:13:32 GMT

@nccarguy1 , got a chuckle out of your explanations, just awesome, thank you.

Would give some feedback but what for, you obviously have a handle on what works for you!

Re: Culling the herd over last 15 months, results.

creditrizz — Sun, 29 Jun 2025 05:44:32 GMT

@nccarguy1 wrote:
To answer cards I have not closed,
Amex Platinum. One of 2 cards I am on the fence with. Biggest reason in the past was lounge access. But with Cap 1 lounges, Sapphire and Delta and AA lounges not much of a reason. I agree with ,any posters that the majority of benefits are a B.S. coupon scheme with little value. The international ticket program seems to save a couple of hundred per year. We will see.
LoAmex Delta Reserve. The companion ticket saves me $1000 per year with addition of Mexico and Central America Scandinavian some of the lounges are amaxing in my IMHO, so keeper
Amex Hilton Aspire. Diamond means nothing in US but have gotten crazy upgrades. Free night got me $1200 room in Cabo and I use the credits semi yearly, so keeper.
Amex Marriott. I have Titanium Lifetime so only use $95 AF card. Probably keep.
Bread Amex. Have no idea why I got. Gone soon.
Cap 1 Venture X. 10,000 points at anniversary, $300 travel credit and good international airline transfer, awesome lounges. Keeper.
Chase Sapphire Reserve. Even with new fee structure 8X for airline tickets, Travel and hotel credit. Yes, please!
Chase Hyatt. Low AF, best hotel program. Keeper.
Citi Prestige. Annual travel credit, 5X restaurants, 4th night free, no brainer. keeper
Citi AA Executive. lounge access and that is about it. Cancel or down grade.
Discover It. Dump.
Discover It Miles. Got for double first year points. Dump.
Fidelity Visa. Just another 2% card. Dump.
FNBO Evergreen. Just another 2% card. Dump
Gemini. Must have been drunk..Dump.
NASA FCU. Dump.
NFCU Flagship. Max $80k limit, 2% card, been a member for 40? years and have have Prime paid for 4 years. Keep.
PNC Unlimited. Dump
Penfed. Platinum Rewards. Some good categories, good relationship. Probably keep.
Penfed. Power cash. Again, another 2% card. Dump.
US Bank Smartly. Obtained when first offered. Still getting 4%. Ride or die on this one.
US Bank Altitude Reserve. Obtained first day offered. $300 credit, 3% mobile, redeem at 1.5. Yes, please. Keeper
US Bank Cash+. $300 a year on utilities, no AF. Not sure it's worth it. Not sure.
WF Autograph. Another 2%. Dump.
USAA Rewards. Long relationship, crappy rewards. Dump.

Thought? Sorry this is so long, hurts my head to write, probably hurts to read.

Thanks, this was useful to alot of us who haven't yet expanded outside of the general travel cards to the more specific branded ones.

Re: Culling the herd over last 15 months, results.

Varsity_Lu — Sun, 29 Jun 2025 10:29:23 GMT

@nccarguy1 wrote:

Gemini. Must have been drunk..Dump.

Ha! Funny stuff.

Re: Culling the herd over last 15 months, results.

unsungivy — Sun, 29 Jun 2025 12:52:30 GMT

@Varsity_Lu wrote:
@nccarguy1 wrote:

Gemini. Must have been drunk..Dump.
Ha! Funny stuff.

Hey now, the Gemini has 10% back on Golf until the end of September!

Also I didn't think Titanium Lifetime was a thing with Marriott? I thought Platinum Lifetime was the best you could get for Lifetime.

Re: Culling the herd over last 15 months, results.

ktm — Sun, 29 Jun 2025 16:20:34 GMT

@nccarguy1 wrote:
To answer cards I have not closed,
Amex Marriott. I have Titanium Lifetime so only use $95 AF card. Probably keep.

Which Amex Marriot card? (current lowest AF AmEx card is Bevy at $250 / year). Also, how did you secure titanium lifetime? I totally agree with you regarding Citi Double Cash and Costco - nerfed the extra warranty coverage. Interesting cull - thanks for sharing!

Re: Culling the herd over last 15 months, results.

nccarguy1 — Sun, 29 Jun 2025 18:36:25 GMT

Well, **bleep**. I thought Bevy was $95, just looked it up and you are right, $250. Definitely rethinking. When Marriott and Starwood merged in 2018/2019 they added Titanium and Ambassador status. If you were Platinum with 10+ years and either 750 or 1000 night you got Lifetime Titanium. Once merger was complete highest lifetime was Platinum. I've hit Ambassador once or twice since then. Status at U.S. hotels means a bottle of water. Outside the U.S. I've gotten some outrageous upgrades. For the most part, loyalty programs mean nothing now.

Re: Culling the herd over last 15 months, results.

nccarguy1 — Sun, 29 Jun 2025 18:38:47 GMT

Lifetime Titanium was only given out during the Marriott and Starwood merger to more closely match was SPG had as those members were pissedoff about the merger (funny, they were right)