Quitting CC apps - what cards to KEEP?
 

Happy Monday fellow FTers!

Over the course of the past two years or so I have been doing AORs, with only a few credit cards in 2011 and 2012, but I really went crazy in 2013. I have enough miles from both flying and CCs to last me until the end of 2015. So I figured it would be time to take a break, especially since I am planning to apply for a mortgage in late 2015 / early 2016. I would like to know what cards to keep. Here are my current cards that have not yet been closed:

Chase:
Freedom
Sapphire
Sapphire Preferred
IHG
UA Explorer
Ink Bold (will Chase let me downgrade this to a no AF version?)

Amex:
Blue Cash Everyday
Blue
SPG
PRG Business

AA:
Diamond Preferred
HHilton x3
AA Platinum

Barclays:
US x2

BoA:
AS


I know I want to keep all the cards without AF, because, well, they're free and there's no point in closing them unless I'm trading them for new credit card approvals with the same bank. I know I want to keep IHG for the annual free night and status.

I cannot decide whether to keep or close my CSP, AA, and SPG. I know I do not want to have all three open. I'd keep SPG instead of AA and CSP, but Amex FRed me once for MS on an Amex card. So I'm scared now to use SPG to buy VR.

I do not travel much, but when I do, I fly with DL the most, then AA and UA. US very rarely.

Any and all input will be much appreciated!

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AA has for all practical purposes no fee for most. Call to cancel, take the credit. Keep the Ink Bold only if you plan to transfer the points you continue to earn, otherwise PC to Ink Cash. Open an SPG business (I'll refer you if you like :) ) and dump the rest of your cards with fees. Then, one by one as the rules allow, reopen them.

Ink Bold has 2x on hotels and gas, but not dining. Sapphire has dining, though.

Dump the CSP since you already have the Sapphire + Ink Bold to do hotel and dining UR earning.

Okay so I will drop the CSP. I was actually thinking of keeping SPG and dropping all airline cards. One, because SPG can transfer points to most airlines I'm interested in (i.e. not UA) at a decent rate. Two, because SPG has my highest Amex credit line. After my Amex FR all my other Amex card limits got lowered to ~2-3K.

Has anyone been able to change a Bold charge card to a Bold credit card?

Keeping the SPG does no good unless you are going to MS and gain more value than the fee. Points can be transferred without the card. And the sooner you get rid of it the sooner you can get another bonus.

But I wouldn't be able to MS 5K SPG points a month to transfer though. I don't travel for business so I don't stay at SPG hotels. But then again I'm scared to MS on my Amex again.

You could do a product change for your Citi Diamond Preferred to Citi Dividend...it's a 5% cash back card, no AF, and Q1 categories include drugstores...up to $6k spend

Isn't there a no fee version of CSP or something very similar?

Just kidding about the no more apps part. I applied for the AA Exec... but this is the LAST ONE I promise. Unless Amex comes out with another 100K. But that would be the LAST ONE!

Does Amex allow you to reallocate credit line if you close a card?

I'd keep the US cards until they go away... The 10k annual bonus for each more than covers the annual fee.

^^ All addicts say they can quit anytime... :D

Moving to the Credit Card Programs forum for further comment.

jackal
Moderator, Information Desk

Okay so I guess I'll cancel all cards with an AF, except the IHG one? Which means I'm saying good bye to all transfer partners from MR/UR. :(

Not like I'll be doing much MS I guess.

For $69 one Ink card seems worthwhile so you can transfer points from Sapphire or Freedom, and you'll likely get enough back from phone/cable/internet to cover the fee even with no MS.

Ink is $95 a year though. Maybe I'll keep it for one more year to transfer to Hyatt. I spent a lot (both MS and legit purchases) on that card, maybe my AF will be waived for the year when it hits.

Okay does churning count as getting a new card? I hope not because I want a second Citi AA Exec.

Are you and KennyBSAT planning on paying the 250x2 for the AA Exec cards? Or are you going to try to cancel when the AF posts?

Even better if you can get AMEX version as it will come handy for sync offers.

Also BOFA has a better balance rewards card which gives $25 per quarter just to charge and pay in full monthly...may be you can convert your AS card to this. I just did this with their hawaiian card when annual fee was due.

Keep ink bold and downgrade CSP instead of closing it. Having one UR transfer card will be always useful and I doubt bold will be downgraded. I was just denied for ink plus.

SPG you can convert it to any non-annual fee card (BCP?) to keep the credit line

Chase is giving statement credit for pretty much everyone I think. I got a statement credit for 4 cards (self + SO for bold and ink+). Also the chase retention offers thread has similar data points from many other FT'ers.

I'm paying the $250 for the first card. If others report that their miles are not taken back by Citi/AA without paying the AF then I will spend $10K in one month on the second one, pay it off, and then cancel before the fee hits.

It takes 6 weeks to do a product change apparently?

51 days is Citi's stated policy - *IF* it falls into the CARD ACT's 45 day cooling off period (basically if any term is adverse to the borrower, AF, interest rate, fees, whatever). I recently converted two cards to Dividend. The TY Pref got the 51 day treatment. The AA Bronze got converted and shipped out w/i 10-14 days.

I'm confused, 51 days from opening to PC? I want to axe my Citi AA Exc and get something I will use.