Here is my current credit card situation.
- I currently have Chase Freedom (since 2002 through various mergers), Amex blue (since 2002) and Amex Gold (since 2006).
- I barely use Amex Blue - Amex Gold is my primary and Chase Freedom is my backup.
- I know some folks on the forum disagree but I personally do not find too much value in Amex Gold - I don't travel much, if at all !!
- I was approved for a new Blue Cash Preferred last night and didn't "upgrade" my existing Amex Blue for the $150 bonus and also wanted to keep my Amex Blue intact - in case I want to go back to a free Amex card.
- I haven't been looking into my cards and rewards programs in a while and realized what I have been missing out! I want to apply for Fidelity 2% Amex (I know it is run by FIA). Then, 2% Amex will be my primary, BC Preferred will be for Groceries and Gas and Chase Freedom will be for places where Amex isn't accepted.
- Will it be too many hits into my credit history too soon since I only got my new BC Preferred last night?
- I want to close my Amex Gold - keep it for as long as they would let me keep it for free when I call them to cancel. Again, another inquiry into my credit history? Too many changes? So I was going to keep this card for another year and keep it in the closet. Especially BCP also provides me with extended warranty and purchase protection - for me there is no real reason to keep them both. I got over the "status symbol" - they gave the Amex Gold to me when I was 25 and back then, it was a big deal for me!
Thanks for your comments.