Just a thought

[Jpmack29]

in the next 5 years I'm looking to cut out most my cards and keep only like 3-4. I don't see how people can have 20+ cards, but to each their own. I had the interest, but recently lost it. Just a vent, 

[kdm31091]

I'm in a similar boat, mostly because my spend doesn't warrant having more than 4 cards.

But I sure as heck am not going to wait 5 years...honestly, once an account hits a year, to me that's "long enough" and it's fair to close it.

At this moment the only thing I really could see closing with no big hesitation is Quicksilver, I love the rewards program but the card serves little purpose anymore and the APR is 22.99% and they won't lower it. While I don't carry a balance on it anyway, it's just a "so this is what you think of me?" kind of thing while my other issuers give me 12-18% lol.

[Anonymous]

Not waiting either. Some of these cards have got to go asap! Like this month.

[Jpmack29]

I'd like to do it sooner, but looking for a mortgage within that time frame of 5 years. 5 years being the absolute maximum amount of time. I'm hoping 2 years at least. I myself can't warrant the spend either, I pif all the time so Apr really doesn't matter to me. 

[aubie1kenobie2]

I have a couple of store cards that I'l keep around and wait until they close it due to account inactivity

[Anonymous]

This wasn't even a vent. lol!

[CreditCuriosity]

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@kdm31091 wrote:

I'm in a similar boat, mostly because my spend doesn't warrant having more than 4 cards.

But I sure as heck am not going to wait 5 years...honestly, once an account hits a year, to me that's "long enough" and it's fair to close it.

At this moment the only thing I really could see closing with no big hesitation is Quicksilver, I love the rewards program but the card serves little purpose anymore and the APR is 22.99% and they won't lower it. While I don't carry a balance on it anyway, it's just a "so this is what you think of me?" kind of thing while my other issuers give me 12-18% lol.

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Cancel it and re-apply and get the 12.99% QS if you qualify for that rate, granted the double or triple pull will sting, but since you don't churn cards or plan on applying for any new credit, what is 2 or 3 inquiries anyways?  Kinda like you cancelled you DC awhile ago and apped again.  As you know most likely Citi DC won't last in the long run(pure speculation; as no mc/visa 2% card has ever lasted) and what is the second best simple cash back card,, yep you got it QS.  

I still think Cap1 CS stinks, but I just avoid dealing with them so the blood pressure stays down and Citi isn't known to be much better at least for this product.

[ddemari]

Although I have obtained a new card very recently. I plan on closing out a number of cards but I am going to do it slowly over the course of a year. I honestly have been horrified of the x-mas season approcahing and all the data breaches. It makes me want to trim down, even though the creditor's have my info, at least im not so vulnerable with loads of cards sitting around. 

[CreditCuriosity]

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@ddemari wrote:

Although I have obtained a new card very recently. I plan on closing out a number of cards but I am going to do it slowly over the course of a year. I honestly have been horrified of the x-mas season approcahing and all the data breaches. It makes me want to trim down, even though the creditor's have my info, at least im not so vulnerable with loads of cards sitting around. 

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Even if breached you aren't responsible for the charges.. Although you do have quite a few cards/credit..  Ones you don't need/use I agree 86 them, otherwise if no AF or serve a purpose adding value then keep those.  Anyways, no one knows your credit best other than yourself, so go with your gut.

[ddemari]

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@CreditCuriousity wrote:

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@ddemari wrote:

Although I have obtained a new card very recently. I plan on closing out a number of cards but I am going to do it slowly over the course of a year. I honestly have been horrified of the x-mas season approcahing and all the data breaches. It makes me want to trim down, even though the creditor's have my info, at least im not so vulnerable with loads of cards sitting around. 

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Even if breached you aren't responsible for the charges.. Although you do have quite a few cards/credit..  Ones you don't need/use I agree 86 them, otherwise if no AF or serve a purpose adding value then keep those.  Anyways, no one knows your credit best other than yourself, so go with your gut.

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im not even concerned about the money part because I know I'm not responsible, its just the idea of getting an alert from myfico about credit activity being used on the black market I read in a different post, gave me chills for a second lol. all my cards serve a purpose in a way, otherwise id totally 86 them. the few that are 86 able right now are just too good of balance buffers to close. when the times right.