Any GOOD reason why I shouldn't??

[Anonymous]

Was thiking on doing the following.  Can anyone give me any GOOD reasons why I shouldn't?

1. Close my PenFed Premim (since it's discontinued) and divide the CL between Pathfinder and Platinum Rewards.

2. Close my newly open Discover it CC and move the $4k CL over to my old Discover it to make it a $10k CC

3. Close my AMEX ED and move $1k of CL over to my AMEX BCP and move $1k over to my Hilton

[K-in-Boston]

1. Don't know enough about the differing rewards to give advice.

2. Do you still have Cashback Match on the new one?  Do you ever encounter quarters where you think, "I wish I could get 5% back on more than $1500?"

3. Are you planning to keep the Amex Platinum?  I'd personally rather have 2 MR-earning cards than 1 MR and 1 cash back, so I'd actually combine the BCP into ED.  Keep in mind that you usually can't transfer the last $500 out on an Amex card, so with your plan you'd likely end up with a $1500 BCP and a $2000 Hilton, not $2k each.

[Anonymous]

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@K-in-Boston wrote:

1. Don't know enough about the differing rewards to give advice.

2. Do you still have Cashback Match on the new one?  Do you ever encounter quarters where you think, "I wish I could get 5% back on more than $1500?" Not sure if i have the match, even if i did, i dont use this card at all

3. Are you planning to keep the Amex Platinum? I will close the Ameriprise and open a regular Platinum. I'd personally rather have 2 MR-earning cards than 1 MR and 1 cash back, so I'd actually combine the BCP into ED.  My main driver is the BCP for groceries. Keep in mind that you usually can't transfer the last $500 out on an Amex card, so with your plan you'd likely end up with a $1500 BCP and a $2000 Hilton, not $2k each.  Umm, forgot about that.

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