What if......

[Anonymous]

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@FinStar wrote:

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Well, not to derail the OP's original thread but HeavenFlower deserves congrats on her recent approval - well done!

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Ok, enough about me. Let's get back on topic! Before it lands in smorgasboard to wither and die

[CarbonCard]

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@Anonymous wrote:

Thanks to an awesome suggestion from Revelate - 

Let's say some federal law went into effect regarding Credit Cards - and the new federal law said immediately you can only have 3 major credit cards open and the rest must be cancelled immediately or face the guillotine, what card would you keep. Forget the store cards, just the majors. If your decision is made on your credit limit, that's fine too. Just what 3 would  you keep. And, let's just keep it simple and don't over-think it.

Also, please - this is to be non-political. Never meant it to be anything else other than the 3 cards.

I'd keep:

Sallie Mae

Discover

Quicksilver

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Hmmm tough call. I say my Amex BCE, ED, and Blue just because those were backdated and they have the 3x CLI..

[Revelate]

Hah, thanks SC!  Anyway my thought was current file: include rewards, current CL, current APR, what would you keep and why if you were reduced to 3 cards period?

Mine would be:

Fidelity Amex (2% always good, also my third highest limit)

Sallie Mae (dur, also my second highest limit)

BCP (someday will need the groceries, gift cards don't suck, and my highest limit anyway)

Cut: Ink Cash, Freedom, Zync, BOFA TR, USAA, DCU, Wally.

[Anonymous]

Barclay Rewards, Cap 1 QS1, Logix platinum mastercard (because thats all the majors I have )

[Kellan]

CSP - My Favorite Card

SPG - Uses for non category spending

Venture - Picked this becuase if this law came down there is bound to be more. And CapOne seems like the bank that is most forgiving and most likely not to over react

[Anonymous]

If this hypothetical scenario came up, my first step would be to close all but:

Sallie Mae Mastercard

Discover It

And BoA Travel Rewards

It would suck to give up the AARP card and my Costco card, and boy would I miss my BoA cards, but then I'd actually use my bluebird. Next, I'd garden for a couple years and get the CSP/Freedom combo because my spend would probably justify it over the It and Travel Rewards. This way I'd get general spend and restaurants rolled up into one. Most big categories covered.

[baller4life]

Discover
Sallie Mae
NFCU Cash Rewards

[Anonymous]

Discover It
Citi Prestige
Sallie Mae

[Anonymous]

I would combine my two quicksilvers into one and try to upgrade my BCE to BCP. So then I would be left with BCP, Discover It, and Quicksilver.

[msbia]

This is harder than I thought. Hmm... Probably Discover, Fidelity Amex and Chase CSP.  

i would hate giving up IHG and AARP though.