- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
I closed Barclay's Arrival.
I'm totally on the fence with some of the others. I want to give them a chance to show they want my business, and to give them some swipes, but 100% honestly I don't earn enough to keep them ALL fed. Some simply are not going to get many swipes I don't have a massive income to feed them all. I can keep 2 or 3 happy and maybe a 4th content, that's about it. The rest aren't going to make much money if any, especially now with Discover since the only way I'd ever use them is the 5% categories since they've shown they don't really care if they get my business or not. I'm really leaning to just closing them and moving on - BECAUSE now I care more about simplicity in my life than I do about these lenders. It's business - they aren't my lovers and either one of us can shut the other down and it's all good. It's just the way it works.
The only 100% safe cards right now are Associated and Amex Gold. I view these two as long term keepers. Discover is probably close bait it's when not if, and I kind of hate to do it, but I think I will just roll as much limit from the CSP into the Freedom as I can and keep the Freedom but I'm not nuts about that - I could easily keep the CSP and move line from the Freedom. I need to make my choice there.
I would like to give BofA and Citi the chance to show they want my business. So I'm thinking it's time to give them a little luv and see if it's returned. If not, I can close them and move on and not sweat it.
That's where it stands. As far as Amex EDP, it will never grow, but I knew that when I applied for it. Since I already paid the yearly fee, I'd like to give it some more time to see if it's a keeper. If not, I have no problem closing that one.
Basically I want to keep 3 to 4 cards out of what I have. That's all my income supports. I don't need lenders who really don't want me as a customer. That would probably include Amex and Chase, but I want to keep Gold in any case.
Feel free to disagree with me, but in the end I'm the one that has to deal with these cards and it's my life, and I'm finding it more complicated than I want. I never intended to keep ALL of these cards so closing at least a couple was always the plan. I just wanted to see which ones were right for me. I have a better idea now but I still need to determine that on a few of them.
What really made this hit home is realizing that in my futile attempt to score at least a 500 CLI on Discover (which is like 5k with any other lender) and putting heavy spend on that, I COULD have allocated that spend elsewhere, like the Barclays as I'd planned and maybe gotten that World Elite. Or not, who knows really it's just that with Discover it was wasted effort. Hell for that matter it could be with other lenders as well. I will try with the ones I care to continue with and see what happens.