Closing store card accounts vs regular cards

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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JonE
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Re: Closing store card accounts vs regular cards

Postby JonE » Sat Jan 23, 2016 7:14 pm

I always review my accounts at about the one year mark. Amazon and Discover will hit that point about November 2016. Discover is a pretty safe bet to stick around, Amazon is on the fence. I like the 5% back for Prime members, but even I'm cutting costs and considering whether the Prime membership is THAT good a deal. And at some point I would like to rid myself of all Synchrony accounts. As it stands I'd like to wind up with a 'core four' meaning four cards I would use/rotate regularly. I've got the cash back cards (Discover, Chase), would like a travel card (CSP) and an everyday spending plus Gas/Groceries card (Amex EDP). That would give me the most amount of rewards with less accounts to have to keep regular track of.

I figure once my util is paid down (yes, I'm in that phase now!) I'll have better scores since I only have one or two old baddies on each account. Then the limits I have will likely increase. And that 'increasing income and assets by the end of 2016' goal is looking pretty good too.
Current Cards: Chase Freedom, Discover IT
Future: TBD


JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: Closing store card accounts vs regular cards

Postby JonE » Fri Feb 12, 2016 12:58 pm

I did go ahead and cancel the Walmart card as mentioned in the garden thread. It's not doing a lot for me and it's a toy limit that won't hurt much on utilization. I'll wait on the higher limit cards (and I use that term loosely) until utilization is down.
Current Cards: Chase Freedom, Discover IT
Future: TBD

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Dcyphrz
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Re: Closing store card accounts vs regular cards

Postby Dcyphrz » Thu Mar 03, 2016 8:10 pm

Walmart is my oldest standing account from way back. At one point, they dropped my limit from $300 to $100 and it stayed the same for at least 10 years. The only CLIs came from the past year and a half of requests.
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