Originally Posted by
Majuki
I think few here would let 15 accounts carry a balance. Closing an account (either at the consumer's request or by issuer) should have zero net impact if you're not carrying a balance. A closed account will typically remain on one's credit reports for 10 years, so by the time the account falls off of the reports there will usually be minimal impact due to average age of accounts or longest account age.
Not sure if you fully understand it. Carrying a balance does not mean I pay any interest. I would pay off the entire balance each month. After the CBs are educated, 15 or even 20 CCs having balance does not factor into the credit report any more.
For the people who are in the CC venture, we carry CCs of various banks, various flavors and various purposes. You want to optimize the rewards; You want to hit reward spending; You want to keep most CC issuing banks happy. So you want to keep the spending high to get most of the CCs you carry. That is the essence of this forum. If you keep a very low utilization (not simple statement balance %, but real utilization), then you do not get much out of the CCs you carry.
Right now, I utilize several CCs each from Chase (freedom), Bof A Cash Rewards, Discover, Citi and several travel reward CCs. Then I have US Bank + paying utility, AmEx Plat for travel, AmEx Gold for dining and grocery, BBP and SimpleCash+ for business spending. Then retail CCs such as Amazon and Uber etc. I'm quite happy to keep like $2,000 balance on each card to manage the total utilization. I could micro manage it and pay off most balance prior to statement dates. But I just set up auto pay and keep things low maintenance. There is already so much movement....