Uodated. Needing advice in closing accounts

[morgacj2004]

So I am now in my final stage of the rebuild. I have got all three scores over 700 and have 200 k in available credit. I would now like to cull my cards and focus on CLI and getting some legacy cards. Household income is 125k yr. Travel 3-4 X year including 1 intl trip. Shop mostly at Amazon, Costco Fred Meyers Kohls Macy's and Target. Own a condo and 2 vehicles. Eat out occasionally. Spend about 20 nights a year in hotels. Mainly fly AK Air 

 Cards I use. A lot

1. CITi Costco

2. Blispay

3. B of A AK Siggy

4. Chase Amazon Prime VIsa

5. AK USA Visa Siggy

6. Macys

7. Kohls

8. Target 

9. Barclay Ring

Cards I am not sure about but have some spend

1. PFCU Plat Rewards

2. PFCU Travel Rewards

3. NFCU Go Rewards

4. NFCU Cash Rewards

5. Discover IT

6. Barclay Aviator

7. GAP Visa

Cards that I rarely use 

1. BofA Travel Rewards 

2. Synchrony Virgin America Visa

3. Barclay Cash Fwd 

4. SEARS MC 

5. Cabellas Visa 

I have a Zero balance on all of the above cards. I have a balance on my CO Venture and CO Venture One. 18 Month zero financing so I can't close. Any advice would greatly be appreciated. Believe it or not I closed more than 15 accounts last year while opening up 5 or 6 new ones. 

[Chris679]

Personally i don't close accounts I throw them in the SD if there is no AF. If I want to keep it open I use it once a year, if I don't care I let nature take its course.

[Anonymous]

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@morgacj2004 wrote:

So I am now in my final stage of the rebuild. I have got all three scores over 700 and have 200 k in available credit. I would now like to cull my cards and focus on CLI and getting some legacy cards. Household income is 125k yr. Travel 3-4 X year including 1 intl trip. Shop mostly at Amazon, Costco Fred Meyers Kohls Macy's and Target. Own a condo and 2 vehicles. Eat out occasionally. Spend about 20 nights a year in hotels. Mainly fly AK Air 

 Cards I use. A lot

1. CITi Costco

2. Blispay

3. B of A AK Siggy

4. Chase Amazon Prime VIsa

5. AK USA Visa Siggy

6. Macys

7. Kohls

8. Target 

9. Barclay Ring

Cards I am not sure about but have some spend

1. PFCU Plat Rewards

2. PFCU Travel Rewards

3. NFCU Go Rewards

4. NFCU Cash Rewards

5. Discover IT

6. Barclay Aviator

7. GAP Visa

Cards that I rarely use 

1. BofA Travel Rewards 

2. Synchrony Virgin America Visa

3. Barclay Cash Fwd 

4. SEARS MC 

5. Cabellas Visa 

I have a Zero balance on all of the above cards. I have a balance on my CO Venture and CO Venture One. 18 Month zero financing so I can't close. Any advice would greatly be appreciated. Believe it or not I closed more than 15 accounts last year while opening up 5 or 6 new ones. 

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My advice (YMMV)

Cabelas and Sears will likely take care of themselves by the end of the year (Cabelas will switch to Cap 1, Sears is headed towards bk), so no real harm closing them (Cabelas should give you an in with Cap 1, if you are interested in going that way.  However, Cap 1 doesn't treat acquired accounts very well, usually)

Is your Target a MC?  They have switched some people to MC (and given huge CLIs), so probably worth holding onto.

BoA tends to offer nice BT, so there's that.

For your travel cards (I am assuming they have AFs), if you travel the airline, they're worth it.  If not, dump them.

I'd keep the ones you use, and at least one of the CUs, and Discover.  Everything else should be considered to cut.  Your usage pretty much already answers your questions.

[austinguy907]

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@morgacj2004 wrote:

 Cards I use. A lot

1. CITi Costco

2. Blispay

3. B of A AK Siggy

4. Chase Amazon Prime VIsa

5. AK USA Visa Siggy

6. Macys

7. Kohls

8. Target 

9. Barclay Ring

Cards I am not sure about but have some spend

1. PFCU Plat Rewards

2. PFCU Travel Rewards

3. NFCU Go Rewards

4. NFCU Cash Rewards

5. Discover IT

6. Barclay Aviator

7. GAP Visa

Cards that I rarely use 

1. BofA Travel Rewards 

2. Synchrony Virgin America Visa

3. Barclay Cash Fwd 

4. SEARS MC 

5. Cabellas Visa 

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Barclay's is off the list with the AA potential of them either balance chasing, CLD, or closing them down

Store cards just for a coupon are kind of silly to keep around when you have some other cards that are decent

I know PF/NF cards have different options but, consilidating to simplify might help you out in your fat trimming

Same consilidating with BOA

Since you travel on AK Air it might be worth the AF to keep them around for the miles/passes if they're offered. 

This would have you down in the 5-10 accounts range instead of 20-30 cards.  Easier to manage and focus on maximizing the results with them.  Sure, there's probably some emotional attachment to some of them from rebuilding but, taking a harder look at things and getting rid of the riff raff makes more sense than carrying dead weight later on down the road.

[morgacj2004]

I have kept the store cards not for coupons although that helps but for the 5% discount I get when I use the card. What other card , Visa, MC, AX offers 5% back?

[Anonymous]

I would keep all of the credit union cards, they have no AF and tend to be generous with CLIs in addition to having great customer service so for me I would keep them.  I am not a fan of store credit cards other than Target because of the 5% discount so I would dump them and use rewards cards when I shop there.  Other than that I don't see anything I would be in a hurry to dump.

[AverageJoesCredit]

Close the Penfed, NavyFed, and Discover cards!

Dont grow and not worth the headaches and heartaches.....

Keep anything Barclays and Synchrony, they will back you up till the end of the world!

[Anonymous]

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@AverageJoesCredit wrote:
Close the Penfed, NavyFed, and Discover cards!

Dont grow and not worth the headaches and heartaches.....

Keep anything Barclays and Synchrony, they will back you up till the end of the world!

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Are you serious?  I have found the total opposite.

[dragontears]

Sarcasm is rarely interpreted well in written words and should be avoided in case someone takes you seriously and follows your bad "sarcastic" advice

[morgacj2004]

It was so obvious to me however newbies might take your advice literally!