Closed NFCU Go Rewards. Trimming the fat.

[Gmoney144]

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@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.

Lol. You’re so right.  I’m considering the Lowe’s Amex cc.  5% back in purchases plus 10% back for veterans.  I’m a novice with credit card points and which card best to use for hotels or flights and I don’t churn credit cards as I see some do on this forums. Takes time I don’t have.  

[UpperNwGuy]

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@TheBoondocks wrote:
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.

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It has a negligible effect on your credit history unless you're closing your oldest card.  I've closed lots of no annual fee cards, some with $20,000 credit limits.  Life is so much better with fewer cards to manage.

[kdm31091]

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@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. 

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Pretty much this. On a credit forum, it can be tough not to get excited by new things out there, so you "trim the fat" only to replace it with the next round of products. If you really do want to simplify your card portfolio, I think a part of it is spending less time on here and other credit related sites. If you are thinking about it and seeing it and posting about it, the temptation is going to happen and could defeat the purpose of simplifying. Cards get mentioned and people talk themselves into it just because it's new and exciting.

Not everyone has that issue of course, but I think it happens frequently. I also see a lot of people saying they want to trim the fat and then over the course of the thread, talk themselves into keeping most or all of the cards for various uncommon scenarios.

[Anonymous]

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@kdm31091 wrote:

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@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. 

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Pretty much this. On a credit forum, it can be tough not to get excited by new things out there, so you "trim the fat" only to replace it with the next round of products. If you really do want to simplify your card portfolio, I think a part of it is spending less time on here and other credit related sites. If you are thinking about it and seeing it and posting about it, the temptation is going to happen and could defeat the purpose of simplifying. Cards get mentioned and people talk themselves into it just because it's new and exciting.

Not everyone has that issue of course, but I think it happens frequently. I also see a lot of people saying they want to trim the fat and then over the course of the thread, talk themselves into keeping most or all of the cards for various uncommon scenarios.

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I came here with Capital One, Disco, and SSFCU in September... 🤣 

[steelers1]

I understand that some of us don't want to have to manage a "collection" of cards.

What I don't understand is that you would cut such a solid lender for the sole purpose of acquiring a nervous poodle like Barclay.

I would much rather keep my portfolio full of strong lenders during turbulent times and let go of the skittish ones.

I guess its all about what makes you happy.

[CreditInspired]

Excellent point @steelers1

[Anonymous]

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@MAZDA3 wrote:

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. 

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I can understand closing the Citi Premier and TD Aeroplan as they both have $95 annual fees. I just closed my Premier and transfered my points to my wife. However, dont' see the point of closing NCFU Go Rewards as you have an 18k limit and no annual fee.  Just shred the card if you don't want to keep track of it.  In a year from now you will want to close the Arrival Plus anyway. 

[MAZDA3]

Steelers, please re-read my OP. I was considering Arrival Plus OR NFCU Flagship. Arrival Plus is no longer under consideration because they don’t offer a pre-check credit, so I am now considering Flagship or Venture.

For what it’s worth, I still have an $18k Plat with NFCU.

[steelers1]

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@MAZDA3 wrote:
Steelers, please re-read my OP. I was considering Arrival Plus OR NFCU Flagship. Arrival Plus is no longer under consideration because they don’t offer a pre-check credit, so I am now considering Flagship or Venture.

For what it’s worth, I still have an $18k Plat with NFCU.

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IMHO its still a bad decision.

You could of PC'd your GoRewards to the Flagship of course you would of missed out of the SUB if offered. 

If you wanted the SUB and you applied for the Flagship during a promotion you could of combined your $18k from your GoRewards to your new Flagship CL and closed it that way without losing the available credit.

I wish you the best.

[steelers1]

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@MAZDA3 wrote:

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. 

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@ Mazda - PS Your OP says nothing about the Flagship.