Cleaning out wallet

Old Jun 27, 16, 11:07 am
  #1  
Original Poster
 
Join Date: Aug 2012
Location: SEA
Programs: Back to 0
Posts: 1,462
Cleaning out wallet

Looking for some advice regarding whether the clean out I'm about to do makes sense or if I am carelessly squandering some lucrative promotions and other opportunities. I'm presently air miles rich (~800k across FF accounts) and relatively hotel miles poor (80k SPG). No travel I have planned exceeds what I've already accumulated, so I'm looking to avoid needless fees.

A string of AFs are about to hit, so I'm thinking of the following:

BoA Alaska (My everyday CC and primary airline):
Cancel 1x AS as AF approaches
Retain 1x AS (love the companion seat and now for use at Costco)

AA (My backup airline):
Cancel 2x (all) AA Execs before AFs hit this summer
Retain 2x AA Citi Plat for continued AA benefits; retention promo for both in effect is 1000 bonus miles for $1000/month

DL (only travel on DL twice / year for SEA-ATL):
Cancel wife's never used Gold DL AMEX, a legacy from when the CC came with a companion ticket
Retain my DL Plat until companion seats credited, use, and cancel CC before AF

United (never fly):
Cancel my MP Select before $65 AF hits (July), voiding 5k annual bonus (Dec)
Cancel my United Club before $395 AF hits
Tentatively decided not to get Explorer because never fly UA; can be convinced otherwise

SPG: Retain (with wife as AU) at least until we know more about Marriott merger

Ink Bold: Retain for office supply bonuses and maintain points as slush fund when other miles won't work / no availability.


Anything I'm missing?
EkekoBWI is offline  
Old Jun 27, 16, 11:23 am
  #2  
Moderator: Budget Travel forum & Credit Card Programs, FlyerTalk Evangelist
 
Join Date: Aug 2002
Location: YYJ/YVR/SEA
Programs: UA lifetime MM / *A Gold
Posts: 13,459
Originally Posted by EkekoBWI View Post
Anything I'm missing?
Just curious what kind of hit your Fico will take cancelling all those so close together.
EmailKid is online now  
Old Jun 27, 16, 6:39 pm
  #3  
FlyerTalk Evangelist
 
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 12,228
You can cancel all unless any accounts are more than 2 years old.

It may be a good to check the opening bonus policies, cool off and get the bonus again.

Try to retain the CLs by doing a PC if possible.
garykung is offline  
Old Jun 27, 16, 11:42 pm
  #4  
Original Poster
 
Join Date: Aug 2012
Location: SEA
Programs: Back to 0
Posts: 1,462
Chase tonight advised me to go for the 50k for $3k spend in 3 mo Explorer promo (exp 6/30), transfer the Chase CLs to that new card, and then cancel the MP Select and United Club before AFs become permanent. Seems reasonable, even if I almost never fly UA.
EkekoBWI is offline  
Old Jun 27, 16, 11:55 pm
  #5  
 
Join Date: Aug 2010
Location: CLT
Programs: AA, UA, BA, Hilton Gold, SPG Gold, IHG Platinum
Posts: 2,072
Originally Posted by EkekoBWI View Post
Chase tonight advised me to go for the 50k for $3k spend in 3 mo Explorer promo (exp 6/30), transfer the Chase CLs to that new card, and then cancel the MP Select and United Club before AFs become permanent. Seems reasonable, even if I almost never fly UA.
Sounds like you may be over 5/24. Regardless of what a Chase CSR advises you to do, if you are over 5/24, you will be declined for the United Explorer card.
dukerau is offline  
Old Jun 28, 16, 6:17 am
  #6  
 
Join Date: Mar 2010
Posts: 201
Originally Posted by EkekoBWI View Post
Chase tonight advised me to go for the 50k for $3k spend in 3 mo Explorer promo (exp 6/30), transfer the Chase CLs to that new card, and then cancel the MP Select and United Club before AFs become permanent. Seems reasonable, even if I almost never fly UA.
I can't speak for your overall spend but considering the AS card is your everyday card, you obviously have a lot of spending in the "other" category or simply value those miles much more. Given your location, that can be understood.

Not flying UA would be all I would need to know such that keeping the Club card and the Select card would be wasteful for you. If I'm not mistaken, the Select card has been discontinued so the category bonuses on that card will not be duplicated by obtaining an Explorer card so keep that in mind if you have any doubt.

Personally, I like the Club card since it is affiliated with my preferred airline and I put quite a bit of spend on it. From what you've mentioned, I don't think that your Chase cards serve you well at all. What would be your slush fund strategy that would make an Ink card a viable backup for airlines? Hotels, I can understand as that would be a cornerstone of my earn strategy because, as another poster mentioned, your chances of obtaining a new Chase card might be compromised due to perceived excessive applications for new credit by Chase.
Oreto is offline  
Old Jun 28, 16, 1:41 pm
  #7  
Original Poster
 
Join Date: Aug 2012
Location: SEA
Programs: Back to 0
Posts: 1,462
Originally Posted by Oreto View Post
I can't speak for your overall spend but considering the AS card is your everyday card, you obviously have a lot of spending in the "other" category or simply value those miles much more. Given your location, that can be understood.

Not flying UA would be all I would need to know such that keeping the Club card and the Select card would be wasteful for you. If I'm not mistaken, the Select card has been discontinued so the category bonuses on that card will not be duplicated by obtaining an Explorer card so keep that in mind if you have any doubt.

Personally, I like the Club card since it is affiliated with my preferred airline and I put quite a bit of spend on it. From what you've mentioned, I don't think that your Chase cards serve you well at all. What would be your slush fund strategy that would make an Ink card a viable backup for airlines? Hotels, I can understand as that would be a cornerstone of my earn strategy because, as another poster mentioned, your chances of obtaining a new Chase card might be compromised due to perceived excessive applications for new credit by Chase.
Thanks. Good thoughts.

Re: AS, yes, as a SEA-based flyer, I value AS points highly (maybe even too highly). I'd put some of the everyday spend on SPG AMEX but am not doing so for fear of a massive, sudden devaluation of SPG points, curtailing the transfer options, etc with the impending Marriott merger. Unlikely scenarios, I know.

Re: retaining Ink, I have 220k points accumulated (with nothing planned for them), so shutting down the card and losing the points is not an option. These points serve the very loose purpose of "if all other redemption options fail..."
EkekoBWI is offline  
Old Jun 28, 16, 2:19 pm
  #8  
Moderator: Budget Travel forum & Credit Card Programs, FlyerTalk Evangelist
 
Join Date: Aug 2002
Location: YYJ/YVR/SEA
Programs: UA lifetime MM / *A Gold
Posts: 13,459
Originally Posted by EkekoBWI View Post
Seems reasonable, even if I almost never fly UA.
While it's only UA and AC in North America, you can use MP (MileagePlus) miles on many, many carriers, including some very nice ones. IIRC saw Lufthansa at SEA last time I was there, and Aziana from SFO has an exellent reputation.
EmailKid is online now  
Old Jul 9, 16, 11:03 pm
  #9  
Original Poster
 
Join Date: Aug 2012
Location: SEA
Programs: Back to 0
Posts: 1,462
Originally Posted by EmailKid View Post
While it's only UA and AC in North America, you can use MP (MileagePlus) miles on many, many carriers, including some very nice ones. IIRC saw Lufthansa at SEA last time I was there, and Aziana from SFO has an exellent reputation.
Thanks. As it turns out, I needed to retain my MP Select because the CL from the United Club (no closed) could not be transferred to any business CC (Chase Ink Bold). With that, I've decided to make the MP Select my primary card for gas (2x) and groceries (2x) and will place most of my other spend on my BoA AS.
EkekoBWI is offline  

Thread Tools
Search this Thread
Search Engine: