- Centurion Member
- Posts: 388
- Joined: Thu Nov 21, 2013 1:13 pm
- Location: United States
Why in the world did you apply for so many at once? No matter, you've already opened the cards. At this point you should just keep them or it will look weird on your credit report. The inquiries drop off in six months, not two years. Opening a card and then closing it a couple months later stays on your report for ten years.
Figure out which of the cards you signed up for have sign up bonuses that you can reasonably attain and put those in your wallet. Earn the bonuses. Keep the less lucrative cards in the sock drawer for emergencies (if you loose your wallet) and put small purchases on them every so often to keep them active. Based on my own top spending categories (groceries/eating out/gas/clothing), this is what I would do:
Chase Freedom, AmEx Blue Cash, Discover it for the wallet. Don't forget to sign up every quarter for the Freedom and it's category bonuses and use them accordingly.
Keep the Simplicity, Macy's (worthless card, IMO), BoA Cash, and Venture at home.
If you are saving for travel rewards, swap out the Venture for the AmEx Blue Cash if you do not buy groceries a lot.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).