I feel like I'm having a Member Moment, constantly changing my mind about cards in general and SM and Brooks Bros in particular.
Instead of closing cards in a rush and later reapplying, though, I tend to defer decisions about closing or keeping cards indefinitely. In practice, that means I keep cards.
The pros and cons never change - just their relative importance. I'll be logging into Barclaycard anyway, I might regret not having a year-round Amazon card, and Brooks Bros takes a full 2 years to go inactive. So they'll live for now...again...
Yeah, I think that makes a lot of sense. It would be a waste of an inquiry to close an account just to reopen it several months or a year later. Much better, IMO, to just let it go inactive but monitor it just in case for fraud. That's why I haven't closed the US Bank one I never use. I'm pretty sure I wouldn't be re-opening it unless it somehow got a major rewards power up, which seems unlikely, but I figure it's no big deal to just log in once a week and make sure everything's in order. Of course wouldn't do that if it had an annual fee. Perhaps they'll eventually come out with a new, more advantageous rewards card I can convert to.
kdm31091 wrote:A year round Amazon card is only significantly important if you spend there a lot. If you are keeping it just so you know you have it, that doesn't make as much sense. However, there's no fee and nothing wrong with just tossing it on the sock drawer and using it if/when the need arises.
Amazon is one of my biggest spending areas. Except for my neighborhood Kroger it's by far the place I shop the most. Sometimes Target's a close second, but Amazon usually edges them out. On any given week I'm likely to shop in all 3 places at least once.
I spend more money eating out overall, but across so many different restaurants/merchants.
I said I was only considering the Amex BCE as an additional card, but actually I suppose an Amazon card might be worth it for the 5% for quarters when Discover It and Freedom aren't featuring it, especially if it doesn't have an AF. It looks like they're only offering a $20 sign up bonus/gift card right now though, whereas a bit of research indicates they've offered larger amounts in the past. I think I'd probably do it for a bonus of $150+.