Decided to follow through on my desires

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MemberSince99
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Decided to follow through on my desires

Postby MemberSince99 » Fri May 23, 2014 5:45 am

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.


wiivile
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Postby wiivile » Fri May 23, 2014 7:15 am

youve never explained why you like the amex gold so much..... you have a lot of cards with annual fees...
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

MemberSince99
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Postby MemberSince99 » Fri May 23, 2014 7:44 am

It saves me having to get AAA. It gives me a nice NPSL. I get CreditSecure with it. Charges post fast and so do payments and I can pay them as often as I like. The website is one of the best I've seen.


CSP limit has been transferred to Freedom as much as I could (they let me move 4500) and CSP closed. One less fee card, one fewer card to feed. I wasn't using it the way I would need to in order for it to be worth keeping. Freedom is, and pretty much makes Discover redundant (and Discover is history in mind it's when not if. I used my points on it, and owe either 6 or 16 cents. When that posts and I pay it, I'm done with it).


I would feel good about keeping Associated, the Gold, Freedom, and BofA. They are pretty secure at this point. Discover is a goner, and I'm on the fence with Citi. I guess it would not kill me to hang on to it, BUT, they like balance carriers and I will simply NEVER do that so I doubt I'll ever delight them. Not that I care, but I just don't think I'm cut out to be an ideal Citi customer. So I'm on the fence with that one. I prefer the Amex way - pay in full and be done with it.

MemberSince99
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Postby MemberSince99 » Sat May 24, 2014 6:03 am

Ok at this point the Associated is my main spend card for obvious reasons (highest limit, best OVERALL rewards return). The BofA and Freedom have small recurring monthly charges on them (it's not like they are going to give me auto luv anyway) as does the Amex Gold for CreditSecure. Those are the cards I really care about keeping at this point.


Discover, I was going to close it but I'm vacillating. It has no annual fee, so while the only way I would use it is for the 5% categories which tend to overlap with Freedom (so I might as well use Freedom), I'm honestly not sure I will close it. I might just leave it in the sock drawer. That would be a change for me. It's always possible someday years down the road they'll give me some luv, but I sure as hell wouldn't lose sleep waiting for it. And if they close for inactivity, I couldn't really care less. I just have to decide if I want to have to keep an eye on it for fraud. But I'm not in a huge hurry to close it out. The other cards had annual fees so that's a bit different.


Citi, that's another one I think will never really much warm to me. I may put a small recurring charge on it and sock drawer that and use it for the 5% categories too. But I think Discover and Citi are just never really going to like me as a customer and it will show so I don't need to worry about building a great business relationship with them.


That's where it stands the only question in my mind is the AEP. I guess I'll just keep using it and see if I am getting value out of it. If not, then before the annual fee is due it can go. If it could ever grow I'd likely downgrade it out of the fee if I'm not seeing value, but since it won't, I'd just close it. But I have some time to see if I can make use of it so I want to do that.

MemberSince99
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Postby MemberSince99 » Sat May 24, 2014 7:03 pm

I've decided that for now to leave Discover open. It has no annual fee unlike those I closed, and I just moved the CSP line so that wasn't even lost.


I will either put a small recurring charge on it, or just use it for the 5% categories when they fit my needs, and that's it. If they ever give me luv, I'll return the favor. If not, it is what it is. I can't say I'll never feel like closing it but for now I'll just leave it in the sock drawer (that's where it literally is - all other cards are in my wallet).


Associated now gets the bulk of the spend, and Amex is next, with the others getting the scraps (small recurring charges). When Freedom has 5% categories I want, I'll use it. Likewise Citi and Discover. No more trying to curry their favor, it's just a waste of time. I'm out to curry MY wallet's favor from now on. That's how it ought to be.



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