@youdontkillmoney wrote:
I previously wrote above I cancelled 8 cards.
Just now I cancelled 10 more credit cards.
I am down to only 4 credit cards.
I want to keep only a few "top shelf" credit cards as I think less is more. I bit the bullet and just did it.
When I had 22 credit cards I had well above $300K in credit card lines, now I have $36K only, which is still more than enough. This is not including $100K of available approved charges from AMEX platinum as a charge card, so $136K technically.
Utilization % is not an issue, I have $0 credit card debt currently.
The 4 top shelf cc I have are:
1.AMEX PLatinum
2.Citi Prestige Mastercard
3. Iberiabank Visa
4. Simmons First Visa
The 10 I cancelled just now:
1.Bank of America visa signature
2. Merrill+ Visa (they were the only ones who offered me 0% interest, bal. transf at low rate to not cancel, I said no thank you)
3.Capital one platinum mastercard
4. Capital one quicksilver mastercard
5.Japan Credit BUerau (JCB)
6.US Bank cash rewards visa
7.Wells fargo visa
8. LA Financial credit union visa
9. PenFed Promise Visa (they were the only ones who asked if I wanted an alternative credit card they have available, I said no thank you)
10.Chase Freedom Visa
The 4 top shelf cards ($136K avail credit incl. $100K of AMEX Plat charge ability) with my 5 PLOC's ($46K available credit) makes a total of 9 tradelines. That'll simplify my life and is sufficient credit.
Wow.
That's.....not a lot of credit.
Good luck.
