I did the unthinkable. I closed my Amex BCE

[Loquat]

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@pizza1 wrote:

Also not worried about internal score..my biz cards get a lot of use

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@pizza1  Kudos to you for ridding yourself of the dead weight.  Can't get much done with a $500 limit.  No need to babysit a card.  I applaud you for getting rid of it...I would have done the same thing and lack of an annual fee isn't enough to justify keeping it in my opinion.  

[Anonymous]

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@pizza1 wrote:

Also not worried about internal score..my biz cards get a lot of use

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Oh, now it makes sense!  You are in Switzerland, where the BCE bonus categories don't work, and there is a FTF on all charges!

[OmarR]

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@AverageJoesCredit wrote:
Amex is what you make of it. Just as Citi or Chase would be to an individual user. This is why its important to have more than one lender because that way if you dont like a certain lender you dont need to stay with that lender and be miserable

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100% agree with you.

And if I had a BK on my record, I would garden & grow every card I had with extreme patience. Especially a no-AF card.

Just my opinion.

[pizza1]

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@OmarR wrote:

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@AverageJoesCredit wrote:
Amex is what you make of it. Just as Citi or Chase would be to an individual user. This is why its important to have more than one lender because that way if you dont like a certain lender you dont need to stay with that lender and be miserable

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100% agree with you.

And if I had a BK on my record, I would garden & grow every card I had with extreme patience. Especially a no-AF card.

Just my opinion.

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I have several major no AF cards, 14 to be exact, and some of those have been gardened with extreme patience for 5 yrs now, and have grown quite nicely. 

[OmarR]

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@pizza1 wrote:

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@OmarR wrote:

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@AverageJoesCredit wrote:
Amex is what you make of it. Just as Citi or Chase would be to an individual user. This is why its important to have more than one lender because that way if you dont like a certain lender you dont need to stay with that lender and be miserable

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100% agree with you.

And if I had a BK on my record, I would garden & grow every card I had with extreme patience. Especially a no-AF card.

Just my opinion.

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I have several major no AF cards, 14 to be exact, and some of those have been gardened with extreme patience for 5 yrs now, and have grown quite nicely. 

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That's good to hear.

If it were me, I would have just kept the AMEX (for 15 no-AF cards) even if the gardening was a little (or a lot) behind the others JUST so I could have future options. Some might CLD you one day, some may change the terms/rewards on you, some may offer you 0% for XX months, etc. and if/when that happens, it's nice to have options.

However, you do happen to have 14 cards already, so that is a nice "options" amount to have. I can also see the minimum reward redemption rate irritating you if you don't put enough spend on it. 

But hey, its your credit profile and your choice. I just don't see the negative in keeping it.

[Anonymous]

Thinking of downgrading my Blue Cash Preferred to BCE before the annual fee hits next year.

With 5% back at Whole Foods, Target and Discover (for a quarter), I can't justify BCP at 6% for $95 over 3% for free for those times I find myself at Kroger, HEB or Randall's during the 9 months where Discover does not apply.

[barbaralee]

I closed my husband's BCE, it was pretty useless, so he is Amex-less now. 

I do love my BCP. We have a family and shop principally at Kroger and Aldi's so it has been wonderful for us. I got it in 2016 when I was 6 years post BK, and for the first year they declined all of my credit line increases citing my BK. I also tried UW, and my experience was a joke as well, lol. 

And then one day they approved my increase, and they have approved me since then. My card started at 1500 and the current limit is now 12k. They also had approved me for an Everyday card, which I did on some stupid whim... I think that limit was 9k, or something... I don't remember, I ended up cancelling it.  

I closed my Amazon Chase Visa, even though I had burned Chase and was freaking thrilled when I got the card. 

[Anonymous]

Did you at least donate the limit to BCP before closing ED?

[barbaralee]

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@Anonymous wrote:
Did you at least donate the limit to BCP before closing ED?

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I did not. 

[Anonymous]

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@barbaralee wrote:

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@Anonymous wrote:
Did you at least donate the limit to BCP before closing ED?

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I did not. 

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That's too bad, you should be sitting on a 20k BCP right now. I assume you didn't know you could?