Time to thin the herd (updated - again)

[pipeguy]

I'm going to wait until my recent credit limit increases hit the CRA's and the two new cards -then kill these cards in November or at least by the end of the year:

Fidelity Bank Visa $3000 CL  CLOSED 10.30.15 yea !
Citi Brooks Brothers $2100 CL  (decided to keep for now)
GE Texaco - Chevron Visa $4000 CL - CLOSED 10.30.15 yea !
GE Old Navy Visa $5000 CL  tried to Cancel and they increased my CL to $8000 (10.30.15)
GE PayPal Extra MC $3000 CL  CLOSED 10.30.15 yea !
GE Walmart Basic $4500 CL (keeping Sam's MC $9,000) >> tried to Cancel and they doubled my CL to $9000 (edit update 10.29.15)
GE AEO Basic $250 CL (worthless card and limit) I'm going to have to write a letter or call there is NO email access or chat option (closed through robot online, YEA!)

Although I typically pay in full every month, high APR's and "dead limits" meaning those that don't won't increase or serve no purpose - have no fear I have 26 other cards and over $200k in available credit (less than 3% utility) even after closing the dead wood cards. I really want to get down to maybe 12 good cards, but it's not as easy as it seems. 

Next up (Spring 2016 maybe) will probably be Barclaycard Apple Visa $7000 CL, Capital One Venture Visa $5000 CL, GE Care Credit $7200 CL, GE BP Visa $3500 CL - after that it gets really difficult because the rest of my cards are higher limits and/or lower APR's. 

[pizza1]

you sure you don't want to keep the Synch majors??? You know how crazy those limits can't get!

[Anonymous]

Paypal Extra MasterCard is 3x dinning (thought their point is ~0.8-0.9 cent I think). What's your alternative for dinning point/cashback, if you don't mind me asking?

[pipeguy]

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@pizza1 wrote:

you sure you don't want to keep the Synch majors??? You know how crazy those limits can't get!

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I think I hit a wall with GE/Sync where I don't get CLI's when I ask by button or chat (I'm not going to call and beg), I've have a Diners $20k, Discover $16k, still have Ebates just increased to $10k, DCU just increased to $10,500 - I've got way too much credit on cards I no longer use.

[pizza1]

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@pipeguy wrote:

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@pizza1 wrote:

you sure you don't want to keep the Synch majors??? You know how crazy those limits can't get!

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I think I hit a wall with GE/Sync where I don't get CLI's when I ask by button or chat (I'm not going to call and beg), I've have a Diners $20k, Discover $16k, still have Ebates just increased to $10k, DCU just increased to $10,500 - I've got way too much credit on cards I no longer use.

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i understand!! YOuve got some nice cards and limits

[pipeguy]

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@Anonymous wrote:

Paypal Extra MasterCard is 3x dinning (thought their point is ~0.8-0.9 cent I think). What's your alternative for dinning point/cashback, if you don't mind me asking?

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I don't really eat out that much, maybe $100 a month between sit down and carry out, but I have Discover, Freedom and others - I also don't play the "this card that card" game very well, I don't really care and don't need another hobby chasing pennies or points. That's not to say I mind getting cash back for purchases, which I use as a statement credit, I just can't keep track of this card this week, that card next month, etc.

For ME, low APR which includes Zero APR intro rates and promotional financing like Amazon, or Sams, (or) low APR rates with no cash back such as DCU and BB&T are what I use. Gas cards? Wawa currently 25 cents a gal (I paid NET $1.60 the other day) or gas cash back like the BP Card I find much better than 3% here 5% there based on the color of the moon in March). I also take advantage of cash bonus sign up promotion, but if the card turns out to be uninteresting after that, I have no use for it. Example, Chase Freedom gave me $200 to sign up and 15 months zero percent APR - that's great. The Wawa card gave me 25 cents a gal for 60 days on the first 100 gal so say $50 to sign up, after that it's pretty much useless.

[Anonymous]

You have a solid plan OP.

[CreditCuriosity]

Kill them if they have aged enough and serve no real purpose.   Although some would disagree.  

[Anonymous]

Net 1.60/gallon? Doesnt that mean gas was $1.95/gallon to begin with??

[CreditMagic7]

Useful plan pipeguy. Smart choice.

I done the same last year with store cards and that void filled back in nicely this year with much improved and better limit cards