Closed an account

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FutureBillionaire
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Closed an account

Postby FutureBillionaire » Tue Sep 04, 2012 4:46 pm

I closed a credit card with Bank of America that I opened earlier this year. This is the first account I have closed in several years. I would actually like to close a couple of other accounts, but I don't want to hurt my AAoA. I'm focused on streamlining my spending between just a few cards so I can maximize my cash back.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


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djrez4
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Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Tue Sep 04, 2012 5:08 pm

Streamlining is a good idea. Your signature has always boggled me. I can juggle 5 cards, but I count 13 for you? It's madness, man.

Remember that closed accounts stay on your report for 10 years and AAoA will reflect them until they drop off. I think you should feel comfortable cancelling a few more, especially if they're younger accounts.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

FutureBillionaire
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Sep 04, 2012 5:16 pm

I use half during one half of the month and half during the other. I duplicate rewards on two cards. One set is due around the 15th, and one is due around the 30th. It helps me keep my balances low and pay my bills in the manner I want to. It is a weird system, but it works well for me.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Gothicmoocow
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Joined: Sat Jun 30, 2012 4:10 pm
Location: Arizona

Postby Gothicmoocow » Wed Sep 05, 2012 11:53 am

FutureBillionaire wrote:I use half during one half of the month and half during the other. I duplicate rewards on two cards. One set is due around the 15th, and one is due around the 30th. It helps me keep my balances low and pay my bills in the manner I want to. It is a weird system, but it works well for me.
I do the same with 3 and it can get overwhelming sometimes lol
I closed out the two cards I started with that were secured cards and my credit took a big hit X.X
guess it was the length of time i had them



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