Only 24 AJC? lol
I've seriously stopped counting. I went through the phase of closing accounts over a year ago.
This is my take, and I completely understand why you are doing it.
I have a couple, I consider useless.
Including the Penfed Power cash rewards, Chase Freedom, Navy Fed Cash rewards. Not closing them though.
I've been denied many times for CLIs and new CCs at one time or another. Amex denied me recently twice in 30 days! I still got what I wanted on the third try. lol
I guess my skin has grown thicker over that time. I've learned persistence will eventually break through most of those lenders. The ones that don't, no real loss.
I keep the majors around even if I don't use them as often as I once did. Why?
Because they normally offer me candy after I let them sit. 0% offers along with REAL soft pull personal loans ready for use if I need it.
Navy is another one I'd close if it weren't for the candy they offer. I haven't used their CC to purchase anything in a year. I do use it for 0% BT offers they give me. They've pissed me off more than once with denial letters that didn't make any sense.
I'm still going to use them for all they're worth! Lol
Because I look at them all as tools.
I don't use certain tools in my tool bag often around the house. It's much less hassle to be able to grab one when I do need it. Than going and hunting another at the local Lowes or auto parts store.
It's much easier to have and not need, than need and not have.
Enjoy the ride my friend. It after all is the best part!😀
I've seriously stopped counting. I went through the phase of closing accounts over a year ago.
This is my take, and I completely understand why you are doing it.
I have a couple, I consider useless.
Including the Penfed Power cash rewards, Chase Freedom, Navy Fed Cash rewards. Not closing them though.
I've been denied many times for CLIs and new CCs at one time or another. Amex denied me recently twice in 30 days! I still got what I wanted on the third try. lol
I guess my skin has grown thicker over that time. I've learned persistence will eventually break through most of those lenders. The ones that don't, no real loss.
I keep the majors around even if I don't use them as often as I once did. Why?
Because they normally offer me candy after I let them sit. 0% offers along with REAL soft pull personal loans ready for use if I need it.
Navy is another one I'd close if it weren't for the candy they offer. I haven't used their CC to purchase anything in a year. I do use it for 0% BT offers they give me. They've pissed me off more than once with denial letters that didn't make any sense.
I'm still going to use them for all they're worth! Lol
Because I look at them all as tools.
I don't use certain tools in my tool bag often around the house. It's much less hassle to be able to grab one when I do need it. Than going and hunting another at the local Lowes or auto parts store.
It's much easier to have and not need, than need and not have.
Enjoy the ride my friend. It after all is the best part!😀
Thanks everybody for your inputs. Though this is a personal journey its a great pleasure to have so many of my fico fam along for the ride.
One curious thing ill add and im sure many have different feelings is about reapping what you decided to close. In example Discover. They are like should you ever decide to reapply and so on. I understand you might get another year of rewards etc maybe even a better sl, but i just dont see myself apping for another Disco in the future. If my first experience wasnt enough to entice me to keep it long enough why would i ever feel the need to reapply for same card. Just a thought i guess
One curious thing ill add and im sure many have different feelings is about reapping what you decided to close. In example Discover. They are like should you ever decide to reapply and so on. I understand you might get another year of rewards etc maybe even a better sl, but i just dont see myself apping for another Disco in the future. If my first experience wasnt enough to entice me to keep it long enough why would i ever feel the need to reapply for same card. Just a thought i guess
@AverageJoesCredit wrote:
One curious thing ill add and im sure many have different feelings is about reapping what you decided to close. In example Discover. They are like should you ever decide to reapply and so on. I understand you might get another year of rewards etc maybe even a better sl, but i just dont see myself apping for another Disco in the future. If my first experience wasnt enough to entice me to keep it long enough why would i ever feel the need to reapply for same card. Just a thought i guess
While you certainly are not "wrong", I can see the other side of this conversation as well.
Thus far in my journey, I've applied for two capital one products. As capital one continues to buy out other banks, I am now up to SEVEN capital one cards... all of which are....um...not the best card that they offer.
All seven are on the chopping block for next year, and I WILL have no relationship with Capital One.
I can see me applying for a Venture or some such nonsense in the future tho.
Yup, I was just thinking of SD'ing one of my Discover cards for a while. The Amex Delta Gold will go in its spot.
The Discover is handy for shopping at Sam's club.
The Discover is handy for shopping at Sam's club.
Good responses guys, thanks. Perhaps someday in the future i maybe ready for another ride. Could be my first time was "AWKWARD" and its get better with time lol
I know of quite a few creditors that you can get locked into the naughty pile.. and the only exit is closing and re-apping ..They put you in a box that you cant get out of... Cap One is a great example... folks get stuck on their cards all the time... it might look and feel like a Quicksilver, but behaves like a starter Platinum.... or its a card they bought out.. that card is usually on a road to nowhere. And sometimes the only way out of toy limit or APR hell is reapplying..
Get some years under your belt, distance yourself a bit further from the BK... and do some trimming... know your slighted a bit but wait and see.. Really think as you slowly peel off sync/commenty cards you might see your other cards take notice in a good way...
-J
@tcbofade wrote:All seven are on the chopping block for next year, and I WILL have no relationship with Capital One.
I can see me applying for a Venture or some such nonsense in the future tho.
Cap1 and been good to me, but I totally understand where you're coming from. If my limits weren't already so high with them, I would combine a couple cards and app for a new Venture right now... $500 bonus on $3,000 spend. If you redeem it to gift cards, you get the full $500, and their gift card selection is perfect for my shopping habits currently.
But, I'll probably end up closing my Cabela's and PSV from them this coming year. Basically useless cards that don't really grow, and I'm about 10 years past where I'm excited about cashing in points for credit on the Playstation Network. 