@Anonymous wrote:@tobago read here to get a better grasp of BBR. i too am waiting for my BBR card.
High-5 incubus24 thanks for looking out. So charges need to be at least around $5 - so if this was the monthly statement we can put it in full / on time and still be eligible?
@pipeguy wrote:Thinning the herd part 1 2016 - closed these accounts today
Cap-1 Venture One $6k (basically useless at this point compared to other options)
Cap-1 QuickSilver $3k (Refuses to grow, useless compared to other options)
Citi Macy's $5k (Don't use, don't need)
Citi - Wawa $1k (Promotion 25 cents a gal was great, current 5 cents a gal is useless)
GE/Sync BP Visa $10k (I like the card, but high APR and so-so rewards makes other gas options better)
Cabella's $6k (high basic APR, has not grown much although its a VS, looks like its going to BoA which is reason enough to close)They bumped this to $10k to keep open - I'm weak sometimes
Total credit line reduction = $31k which leaves me at just over $230,000 in revolving credit lines. Utility will go to 5.76% which I can live with since 50% is at 5.99% (Lowes) and the rest is at 0% APR for 12 more months.
I now have 20 open accounts plus 2 AU with my wife (BJ's and Wells Fargo). Only Store Cards are Amazon $8k, Lowes $30k and Home Depot $20k.
Next round of card closing will be in 6 months and I'll kill 4 to 6 more cards (this is getting harder) as my goal is to get down to 12 cards before the end of 2016, all with 5 digit credit limits and lower APR's (even though I usually PIF).
Good for you. I have 15 cards open at the moment and I am starting to feel the strain. A couple of the cards will be on the chopping block later this year when the Afs start hitting. I think ideally I would like to be under 10 open cards.
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@jeffery581 wrote:Re the better balance rewards BOA- If I have to pay interest by carrying a balance doesnt it defeat the purpose of the rewards? I will have to check on this before closing card.
Let your statement post with the balance and PIF within your grace period - no interest paid. Have done that every month for almost 2 years now and received the bonus each quarter.
