After 2 yeras on this forum I learned a lot but I also opened way too many checking and savings accounts. I finally made up my mind to consolidate. It was harder than I thought. But I keep in mind that I can always reopen if I wish to.
Wells Fargo --> checking, savings, cashback card and platinum (oldest) card closed
Capital One --> checking and savinsg closed
Discover --> savings closed
PSECU --> savings closed
PenFed --> checking, savings and high yield savings closed
Fort Knox --> checking, savings, 5% gas card closed
LMCU --> checking and savings closed
First Tech Credit Union --> checking and savings closed
Alliant Credit Union --> checking and savings closed
BECU --> checking and savings, no inactivity fee, 5% interest on first $1,000, might as well keep it open.
Bank of America and Merrill Edge --> my main bankng and checking
US Bank --> left open only for its Cash+ 5% card which gives me solid cash back per month, if their Cash+ looses utilities/cell, I will close it.
Chase --> join account for checking and credit cards
Ally --> joint account for high yield savings, will close it in the future and replace it with treasury direct.
Congratulations on your success!
Good job on the consolidations. I probably have more than I need also, but like to spread my funds out a little bit so I keep a solid relationship with a few financial institutions. I also like that if I’m in a pinch and need cash above the ATM limit, I can break it up across banks.
I probably won’t open any others, unless there’s a tasty offer for a card or SUB and I need to have a relationship to go for it.