- Centurion Member
- Posts: 4062
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
Gamma wrote:The cards where I currently carrying balances are cards I've had for about 4 years. It's the BoA Better Balance Rewards card and Sallie Mae Barclays card. They have always sent me balance transfer checks or emails about balance transfers that can be done online and these offers is after the promotional offer from opening an account. I no longer open new accounts just for the 0% promotion seeing as I always get the same offers with my current cards. Barclays and Chase usually send me the best offers with 1% or 2% fee for 15~18 months. I'm sure others here get alot of balance transfer offers after their card opening promotion.
You are right about potential AA from having massive credit limits in a single account. I do plan to close alot of cards I currently have from among various banks to keep my total available credit-to-income ratio balanced and lower my credit portfolio. I currently have a total of 14 credit cards and from those, I only really use 5 of them and the others I just use as a balance transfer for when I ever need one. Currently happy with my set of cards and after closing a few cards later this year, I'm done getting new cards. Only cards I really apply for these days are just for the cards that give a big bonus after meeting a spending threshold.
I forgot about the Sallie Mae BT checks. I called them many months ago and requested they stop sending them, which they did. It's a waste of paper and exposes me to more theft risk. The checks or BT offers on the website could be reasonable if someone can't get a Slate with "new account" APR/BT terms.
If you're only using about a third of your cards, then moving part of the BT cards' credit lines over to regular spending card from the same issuers might be a good idea (to make the everyday cards more useful).
Which cards are you thinking of closing?
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech