Gamma wrote:I currently carry:
Chase Ink Plus
Discover pretty much gonna stay that way the rest of the year, unless they bring out something good 4th quarter. Both Citi cards only good for BT offers, unless they offer me promos, and BoA is pretty self explanatory.
That would suck if you lose your wallet. You would have to call each creditor to cancel each card. You would then be left without credit and would have to rely on your debit card until you receive your new cards. By "thin the herd" you mean cancel cards or sock drawer?
If I lose my wallet I lose the debit card too - that's in there also. So I'd best not lose my wallet.
I have it set up on CreditSecure with all my cards I'd just call them and they would handle things (I have their number in my IPhone for convenience).
I mean cancel. It's too many for me to manage. Maybe some people can manage 20 or more cards, I start to struggle with 8. I find I have nightmares about trying to make sure I use each one once a month BUT make sure I pay the balance before the statement date so only one card reports a small balance. It's a PITA to me. The only hesitation I've had so far is I want the Amexs to report before I do anything and also keeping them is leverage for CLIs with Chase as I can say look I have 3 cards now with limits of 10k or greater, but I'm wanting to move that business to Chase and that would be easier for me to do if you could up my limit a bit closer to what other banks have given me. (Which is true, I'd prefer to give them more business).
Otherwise, yeah, I want to close a few of these it's just too much to deal with. I hate to actually do it, because once you close you never know where you stand with these guys, but managing that is just more hassle than I want in life, and I'd prefer to concentrate on Amex and Chase and FNBO. 4 cards is as much as I need or want. I just don't want to deal with more than that.
I know, you will argue well put them in the sock drawer and take them out every few months and fill your tank or buy a pack of gum. Yeah I could, but it's always a risk of fraud since I'd have to check for charges on them, plus the bank could give that money to someone else who is profitable for them, which I'm not going to be.
I just personally prefer to close rather than drag it out forever. But I've hesitated to actually close these, it will happen at some point though.