@Anonymous wrote:
Hey all,
I wanted to get some of your thoughts of my current card portfolio and any tips as to which direction I should head in for the long term. After about a year my scores are at a point where I have better options at cards. My current scores are EQ-694 TU-714 EX-692. AAoA is around 1 year and overall util is around 8%. My current cards are the following:
CSP-$6k
Freedom-$4.4k
Venture-$10k
QS1-$3.3k
Amex ED-$4k
US Bank Flexperks-$5k
I think I got a little ahead of myself in some ways, not that it's too many accounts to handle but some were definitely impulse apps, big time on the venture and a slight impulse on the ED. I'm probably also a little top heavy with travel cards and more likely than not wont be able to justify three annual fees. This wont be an issue since they're all waived for the first year.
My plan is to probably close/combine the Venture with the QS1 and then PC it to the non AF version since I dont want to hack off my highest TL. Can't quite decide what to do with the ED since I dont have enough swipes with it to take advantage of it. I actually really like the Flexperks and the AF is only $50 so that doesnt bother me. I'm also considering looking into the Citi TY Premier as an option opposed to the CSP since the points structure fit my spend better, but again probably dont need another AF card.
I'm thinking that my best options would be to look into more cash back cards. I have a prequal for the DC that I might take a stab at and might look into the BCE. Sorry for writing a book, just trying to give all the info so I can get more opinions.
Thanks!
If you don't want to try and justify a fee the last thing you need is a Citi Premier. The Flexperks seems like a decent card with a relatively low fee. I'd just use that as your "travel" card if you want to avoid more AF cards.
Double Cash is a great no fee general spend card. Consolidating the Venture/QS1 makes sense, sure, but with a Double Cash not sure how much use you'll get from the QS unless you need no FTF so may be fine to just close it. The "oldest tradeline" thing is overblown. The account will remain reporting for 10 years regardless.
If you can't make the extra swipes for the ED bonus, it's not that exciting of a card. If you're not getting use out of it, close it.
CSP can be downgraded to a plain CS with no fee (and reduced benefits) if you can't justify the fee. Alternatively, move the limit to your Freedom and close it if you don't want a fairly useless card like CS hanging around.
I have a BCE and I like it. You'll have to cold app because you can't PC the ED to BCE as far as I know. I don't use my BCE too much because I get most of my stuff at BJ's where I have the mastercard and Target with my debit redcard, but 3% groceries with no fee is nice to have and the Amex Offers can be nice sometimes.
