Except for the hard-core collectors on My Fico who would never close a card, I imagine most of us occassionally close some cards. I had a recent discussion with @Anonymous (Carmy03) about what our lineups would look like if we started eliminating cards in reverse order of value, with "value" being however we chose to define it. It could entail any or a combination of attributes including not only rewards, but also age of account, credit limit, APR or fees, benefits, or satisfaction with the lender. We both took our lists all the way down to ONE single card. 
No, neither one of us plan to reduce down to only one card, but I thought the exercise was valuable since it encouraged me to carefully evaluate all my cards. The first part was fairly easy since I already know I have some less-used or worthwhile cards. The process got harder as it went along. So I thought it would make for a good community discussion topic.
I've seen discussions about how many cards our members prefer and that number is usually anywhere from around three cards to many dozens. Rarely do I see someone pick only one card. If you had to do it with your current cards, which one would you pick and why? Which could easily be eliminated? And what would your list look like if it were, say, 5 cards or 10 cards?
*I'll withhold my personal valuation for now and let others chime in.
I'd go with my BoA PR, since it can earn well at the top tier of Preferred Rewards. I'm currently at the first tier, so I actually rarely use it right now. Once I get to the second or third tier, I'll have to rethink my card strategy. The simplicity of carrying one card is appealing to me, but it might be hard to ditch that feeling of missing higher earnings... especially those 5% rotators.
Probably my Quicksilver. Just because it's my oldest and I've built it up to a usable limit. Which wasn't easy.
I know it's a boring card, and isn't even that competitive as far as flat cashback cards go, but if I was just to simplify to an extreme degree that's probably the route I'd take.
I could easily drop the PNC Points card (RIP BBVA ClearPoints). Objectively I know the Citi Custom Cash is a very good card, but I just have an irrational dislike of Citi, so that one could probably go. The Sapphire (no AF) is just there as a placeholder for any future Chase product. But realistically it could go.
The rest of my cards are fairly close in terms of value to me, so it gets trickier. I often think about what my hypothetical 3-card or 5-card setup would look like. Ultimately it probably revolves around the Quicksilver, SavorOne and likely Discover. Expanding that to 5 would come down to the Freedom and either the BCP or Cash+. Probably the Cash+.
Regardless, I know there'd be regrets in any such scenario. I've let go of some good ones before...
@ficosuave wrote:Probably my Quicksilver. Just because it's my oldest and I've built it up to a usable limit. Which wasn't easy. I know it's a boring card, and isn't even that competitive as far as flat cashback cards go, but if I was just to simplify to an extreme degree that's probably the route I'd take.
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@Anonymous wrote:
A flat rate 2 percent card. Or I'd try for the AOD 3% card
+1 @ficosuave and @Anonymous.
What both @Anonymous and I found in downsizing lists was that when push-comes-to-shove, the highest paying uncategorized and uncapped cash back cards tend to filter to the top of the list. The versatility of a card that always earns the same rate regardless of MCC or amount of spending is hard to beat! And even for those of us with cards that earn travel points which may be potentially more rewarding, the risk that those points may be devalued over time (versus the more stable value of cash) tends to favor the cash value cards.
Don't undervalue that Quicksilver. It's still a great card today, even though the payout is lagging some competitors.
AOD FCU 3% Visa is an awesome card and finished towards the top for me also, as well as my PenFed Power Cash 2% Rewards. While rewards were a major priority, I took into account some of the other factors in making my list that mixed things up a little bit.
@Aim_High wrote:Except for the hard-core collectors on My Fico who would never close a card, I imagine most of us occassionally close some cards. I had a recent discussion with @Anonymous about what our lineups would look like if we started eliminating cards in reverse order of value, with "value" being however we chose to define it. It could entail any or a combination of attributes including not only rewards, but also age of account, credit limit, APR or fees, benefits, or satisfaction with the lender. We both took our lists all the way down to ONE single card.
I've seen discussions about how many cards our members prefer and that number is usually anywhere from around three cards to many dozens. Rarely do I see someone pick only one card. If you had to do it with your current cards, which one would you pick and why? Which could easily be eliminated? And what would your list look like if it were, say, 5 cards or 10 cards?
*I'll withhold my personal valuation for now and let others chime in.
You unintentionally kill me. You are a hardcore credit fan. The post you started about Max Rewards Preferred vs Cash + cracked me up. Just because of how...dedicated you are with your craft. Understand that I am not picking on you; I always enjoy your posts as they clearly show your interest.
Anyway, I would chose my USAA Limitless Cash Rewards Visa card. 2.5% cash back on everything; no limits, easy redemption that I control (unlike BCE/AOD which credit the statement at the end of each billing cycle with the earned rewards-thus, IMHO, get lost in new charges) and a high credit line. For overall 'bestness' and simplicity, that would be my #1.
Lol @Aim_High ....and here we go. You know I love threads like this.
I think you already hit on the most obvious point.....clearly, someone's highest general noncategory card is always going to float to the top simply due to ease of use. In my case, AOD 3%.
As most who frequent this forum already know from my previous posts, I think I have chosen my cards pretty wisely based on my category spend each month. I am very comfortable in the 10-card range (even 12 for the right cards). These are based on my highest levels of spend, the top three being restaurants, grocery, and utilities...and maybe Amazon. Ok, four.
But this is my personal comfort level. To choose only one card would be agonizing. And honestly, I couldn't go to only one....AOD and Affinity are two cards that I consider to be Unicorns and wouldn't give them up for anything, not to mention they are also my two highest limits among my cards. (Cheers for CU's!)
My top 3 currently would be:
1) AOD 3% - would obviously app for an Alliant 2.5% or other 2% if this ever went away
2) Affinity CR - restaurant, grocery, and gas categories hit 7%, Amazon 5-10%
3) US Bank Cash+ - utilities, internet, and just flat-out great versatility with this card when needed (but for the sake of the topic, this could go away, leaving me with 2 cards)
This is the best I can do daggum it. 2 cards....take it or leave it. 
From my SD, I am already converting Citi DC to Custom Cash, so that is being re-purposed. Uber is changing to the View card and will slowly die and be auto-closed in one year. And I will be closing my First Citizens starter card (oldest card) likely within the next year. (that is, after I add the 3 new cards on my target list in my siggy) So I'm making efforts to reduce my current profile and will ultimately be at 10 cards.
When they figure out how to make a 5% general noncategory.....now that's a different story. 
On Deck: No Plans Currently
The card that I'd keep if I could only hold onto one, would be the Amex Gold card.
My thinking is: The fact that I'd be paring down to one card doesn't change what my primary goal is. The goal is to optimize my return on normal spending, to travel in a way that I typically wouldn't if I had to pay out-of-pocket.
In order to do that, I would favor a card that offered points rather than cash back. And while the Ink Unlimited and Ink Cash are great cards, I would still need a card like the CSP to maximize their value.
The card that I'd most easily part with is the Amex Platinum. Year 1 provided a lot of value, but going forward, it will be limited, and I'm leaning toward closing it anyway after the AF hits again.
Edit: But if I could pick ANY single card, including cards I don't currently have, I'd go with the Amex BBP.
