I think we have too many cards open so we need to make the right decision on which card to close (maybe I’m mistaken with this) I will post a list of my cards
1. First I need to know will closing accounts lower my credit score
2. Is it a good idea to keep in opening cards very often when there is a big bonus for opening (when I opened my BA card for the 100K promotion chase lowered my credit line from my old cards with $20K and approved the new card for $5K I don’t want this should happen all the time I try to get a big bonus the max AGI I entered was $45K)
3. Card Number 1,2, is not in the question to close as I got 1.5% cash back on all purchases plus with my old card I have an option to double it to 3% and the same with Card Number 3, as we get 5% cash back on gas and this card is being used for a few K in gas almost each month and card number 6, I think it’s also a good card as we earn double miles on everyday and star alliance purchases (I boost my UMP account with over 500k miles with this card from bonus, referrals, inconvenience, etc.)
4. They good thinks of the BA card is the companion voucher and the earnings of 1.25 mile p.d. on all purchases (and on my wife’s BA card we keep and getting targeted offers 5K, 10K, Triple Bonus)
Open accounts
My Personal
1. BOA world points since 2003 (1.5 points p.d.on all purchases)
2. BOA world points since 2005 (1.5 points p.d. on all purchases)
3. AMEX Blue Cash (gas spending a few k each month)since 2007
4. AMEX Platinum since 2008
5. DISCOVER since 2005
6. CHASE United Mileage plus (2 m.p.d. for everyday purchases)since 2008
7. CHASE BA since 2010
8. CHASE FREEDOM Plus (old one with 3% top 5)since 2008
9. CITI AA 2010
Wife’s Personal
10. CHASE FREEDOM Plus (old one with 3% top 5)since 2007
11. BOA world points since 2005
12. CITI AA 2010
13. CHASE BA since 2009
14. GAP visa since 2008
15. PLACE CARD since 2006
Business Cards
My Business
1. Capital one no hassel since since 2003
2. CITI AA since 2010
Wife’s Business
3. CITI AA since 2010
Closed Accounts
My Personal
1. Bank of America open 2/05-11/06
2. AMEX charge card open 5/06-11/06
3. North West Airlines open 06/07-05/08
4. United Visa open 04/05-10/07 closed by chase cuz no activity
5. Miles & More open for 1 day
Wife’s Personal
6. AMEX Delta open 7/09-06/10
7. AMEX charge card
