@Sharingan wrote:
Of your list, #2 is the most important to me. I canceled 3 or 4 cards with Bank of America at once (including my beloved Merrill+ card) after a 55 minute wait to speak with a CSR regarding a fraudulent charge. I also had a 35+ minute wait earlier in the day, which I had to abandon. The other banks I do business with have been much more considerate of my time whenever I’ve had to call, especially Chase. I also disposed of a Fifth Third Bank card solely due to poor/rude customer service. When your product is average to begin with, I tend to have a very low tolerance level for your other shortcomings.
I will say that I became “picky” once I successfully met all of my credit card interests. I believe the last personal credit card I applied for was the FNBO Travelite credit card 1.5 years ago, and that’s because it offered something quite rare and unique: $100 airline incidentals credit and Global Entry credit with $0 AF. It truly takes something along those lines to catch my attention nowadays.
This comment made me recall why top notch service is so important, particularly when on vacation, and in a pinch.
That said, I would personally probably just sock drawer a card, based on less than stellar service -- instead of canceling it; because, the card benefits me the longer it is open, even if it's only used sparingly. I'm not going to let one or two clumsy reps ruin the positive relationship and seasoning that I've built up. I'm not saying it's not possible that I would cancel in a huff, but I like to wait until the next day, when I've cooled back down, to make big decisions like that.
But, I absolutely agree with the sentiment.
I would probably be more prone to cancel cards if I were more of a gamer, and had several dozen cards to spare. Incidentally, gamers typically encounter the odd bank - that will close their accounts or cut their limits, for really no reason. Well, the reason is because upon a review, the bank will have ascertained that the cardholder is a gamer. So, for me to get presumptuous and start closing cards, I would have to become more of a volume gamer, opening and closing accounts year over year. It's natural to expect more turnover - with many more cards coming and going.
Instead, I usually just get cards that I have a long term use for, and I try not to sweat the small stuff. A few cards I will eventually lose interest in, or their rewards will fall off, anyway. But, I will just put them away; no reason to close the cards, other than just forgetting about them over time... and by that time, it wouldn't bother me if the bank just closed them due to inactivity - because, by then, I will have already gotten what I wanted out of them.
