Closing cards to reduce number of cards recently opened

[NRB525]

OP, I'm of the opinion that if I have cards I won't be using in the future, and they have no purpose even for maintaining a relation with a bank (because I have other cards with that bank, for example) I close the card.

I closed my AMEX Delta Platinum last October, after opening it only in February 2014, because it wasn't going to work for me. $10k starting and that limit. $195 AF

I closed my Chase card, oldest card I had open at the time, from 1998, after I finished paying it off and was left with a 22% APR and no APR reduction after I asked Chase for same. $8k limit. No fee, no rewards, no point in keeping it open.

I just sent in a letter to close my US Bank Travel Rewards card, $17k limit, opened last summer 2014. $49 AF and stinky bad rewards structure.

I am keeping my $1k limit Citi Diamond Preferred open, just to maintain some link to Citi (well, besides the two other closed cards I'm paying down) with showing new charges and payments just on the off chance I want to app for something from Citi down the line.

I do this also because it lowers my open limits on active cards. I've added several cards since October 31, including two new Chase cards in January; Marriott and Hyatt for nice limits.

If the cards aren't going to be meeting your needs, I would close them. Think carefully about it first, of course, but there are so many angles you have to review to decide which cards work best, sometimes you find you got a card that just isn't going to meet your needs. And HP influence starts fading at 6 months, by 1 year should be minimal.

[Anonymous]

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@Ysettle4 wrote:

OP,

Everyone who has chimed in have provided valid points. I'd say take their advice. I know I would if I were in your shoes.

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Valid points except OP wants the US Air bonus which we can guarantee won't be available very soon.  So while closing accounts won't help, neither will waiting.  I would go with Lyythine's advice and try, being prepared to recon hard.   Might not work, but this is the last chance at that particular card

[Anonymous]

Thanks everyone for the advice, kinda figured it was a shot in the dark. Going to wait and see if the bonus goes up again, if so I'll app and recon like a maniac. If the card disappears with bonus still at 50k I'll shrug and tell myself it probably wouldn't have happened anyway.