- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
And realized some interesting things.
First, in the end, I don't really much care about the rewards. They are nice, but I've given up as many as I've gotten when I've closed cards because I really don't care that much about the rewards. I know some people would literally have a stroke at the thought of not getitng a penny by using one card over the other, but to me life is too short to sweat it.
I also don't care about "prestige". At one time I thought wow having an Amex Plat would really impress the chicks, now I couldn't care less, I use the cards at the grocery store where I swipe and no one sees it, at the gas pump where I swipe and no one sees it, and when I go to lunch, where they do see it but I honestly don't care what they think anymore. I'd be fine with swiping a Cap One just so long as it works, though I sure wouldn't want to go back to them but I'm just saying, doesn't matter to me anymore.
I do care about the limit, in so far as it's sufficient. Once it gets to 10, 15, 20 or more k, I mean how much more do I seriously NEED I don't mean WANT I mean NEED. And I don't even need over 20k, even for utilization, on a single card. I'll take it of course, but I don't need a CLI on my Associated card ever, nor do I plan to ask for one. I just hope when the economy totally crashes as our debt spirals out of control they don't do a decrease but who knows. Anyway I have sufficient limit. 5k is the bare minimum I want on a card these days, 10 or 15, well 20 k is optimal, in terms of utilization - meaning I can put the entire month's expenses on a card and not worry about having to pay it before the statement cuts.
Customer service is one I also care about. I don't want to call some bozo reading from a script who has no clue which end is up, that's just a frustrating waste of time and I might as well ask my Magic 8 ball. Long wait times to speak with a CSR is also a bad thing in my view. If I'm trying several times in a day due to fraud or something similar waiting 20 plus minutes and can't reach someone, yeah that's bad (I've had this happen).
And last but not least, annual fee plays a part. No fee is best of course, but I'm ok with a fee IF I feel I'm getting value for it. If I'm just padding their profits, well you know.
So what I'm strongly considering is, due to the fact that my CSP and Amex revolvers are not going to grow and basically have little future, and the fact they also have annual fees, and due to the fact I just want to simplify and I would ideally like only 2 or 3 cards, I am strongly giving consideration to axing those cards. They aren't going to grow, that's been made crystal clear. The Amex Gold has grown last I checked the internal limit is over 10k. I really don't need more than that. But the point is it will grow and has. It's sufficient. It does have an annual fee but I'd like to keep an Amex charge.
I'm not asking people to go all MyFICO and jump in and scream "NEVER EVER close a credit card or you will ruin your whole life you may as well crank the Metallica and put the gun to your head man!!!!!!" Ok then I guess it's Metallica time. I don't care. Thanks for your input it will be filed in the appropriate place. I'm not looking for input just thinking aloud here with the thought process I see pruning things as something you should weigh and consider and then do whatever you feel is overall best and only you can decide that. I haven't rushed on closing them I've just thought about it, and that's what I'm thinking.
I also do not care about my score. I've seen it from a low of 727 to a high of 788 in the last just over 3 years and frankly I don't give a damn where in that range it is anymore. I would hate to see it drop to under 700, but you know what, I really don't give a damn, it makes no real practical different in my life at all since I'm not going for a mortgage. So I don't even care if that drops 20 points. I mean who cares?
I care about simplifying life. I'm actually thinking I will just use the cards I keep, let the balance post, pay in full as soon as the bill is due, and live life. I'm too fanatical and stressed with paying immediately as soon as charges post, why be that way. Just pay when the bill is due and don't pay interest and it's all the same to them.
That's really where I'm seeing things going. With keeping the Associated and Duck cards and the Amex charge I could simply do that - just live, not live for my score or my cards or any of this nonsense which in the end isn't all that important anyway.