Schwab vs Cash Magnet
This year, I have been working towards simplifying my finances and closing cards that I no longer use and feel I have no need to keep open. I'm trying to keep cards that will maximize my points in a pool of the same program or at least same transfer partner commonality.
I currently have 4 Amex cards: Amex Schwab (2016), Amex Plat (2018), Delta Plat (2019), and Cash Preferred (Dec 2020).
I've learned to value more points than cash back. Which means I want to keep my Amex Plat, and for now the Delta Platinum since it kind of pays for itself with the companion ticket, even though I rarely use the card.
I will apply for the Amex Gold soon to maximize earning categories once I have the keeper cards.
But I'd like to cancel either the Schwab or Blue Cash Preferred card (Maybe in February once the annual fee hits and it's the 13 month mark). Maybe even cancel both, but I think it's smart to keep one free card just in case things change in the future.
If I keep the Blue Cash Preferred and close the Schwab card I would downgrade the card to the Cash Magnet card/no annual fee version that earns 1.5% cash back.
Is there any reason I should keep one vs the other card? I don't do my main banking with Schwab anymore (I used to) but I do have a small brokerage account with Schwab I've kept through the years. I don't know if there are any perks to keeping an Amex product vs a co-branded product? Both would earn the same cash back, I have noticed the offers usually are better on the Blue Cash vs the Schwab card. Any input will be helpful thanks!