Is there a such thing as too many cards?

[Anonymous]

Get rid of the Delta too, since you say you don’t use it, and you might want to look at the Ulta and Torrid.

[Anonymous]

Thank you, yeah both of those are with Commenity or whatever it is called and I do not like them very much. I use the Ulta card once a year and I paid off the Torrid card earlier this year and have not touched it since. 

[Anonymous]

And why keep the AMEX gold if you don’t use it, that annual fee would be a savings.

[Anonymous]

That is where I was leaning as well. The perks I thought I would have used I no longer will be using so not worth the annual fee.

[BallBounces]

I am all for closing cards that don't present a value or purpose, and believe I would trim a few if I were in your position.    That being said, let me play devil's advocate for a moment.  You are carrying some tangible balances.  I might close them slowly, and I also might target a few CLIs along  the way (looking at you, Amazon).

Congratulations on the proactive financial planning and on paying down the existing debt load!

[Anonymous]

Thank you, I did a CLI on Amazon 6 months ago and they jumped me to $4k from $1k I believe. Amex Gold does not play into my Utilization at all so I am thinking if any that would go first. I am closely paying attnetion to utilization. 

[RSX]

I am in the process of doing this myself.  I started with 16. And dropped 2 this week, and will be dropping my Amex Green in 2 months, before the AF in Jan

i suggest you drop

Amex Delta Skymiles. 1000

Amex Gold. 0

Cap1 Saks.  750

Torrid.  1250

Ulta.  1000

total is only 4000 lost which is a small % and shouldn’t affect your Util by much, if at all 

And the AF on Amex Gold will help you pay something else off

that would be a good start in my opinion.   

[RSX]

Ok. I had to go and do the math..

with the the plan I noted above, I see you at 

17170/136300 = 12.5%

17170/132300 = 12.9%

so not a change to your Util as they likely round up to 13% for both anyway

and the $100-300 AF saved on the Amex Gold will be very helpful paying one of them down

[Anonymous]

That actually sounds good. My AF for Amex GOLD is due in March. I agree with your thoughts as well. I hate Comenity and wish I never obtained those cards.

[Anonymous]

Yeah that’s exactly the ones I targeted because their retail and they’re low credit limit. Or they’re useless with the annual fee. I didn’t go into detail but that’s what I was thinking, it wouldn’t hurt your utilization very much because they’re all so small. And Saks you said from the beginning.

Totally agree with RSX. From what you’ve told us, I believe that’s the best plan.