I love credit cards so much! v4.0 - 2021 (see first page for add'l details)

[Hoosier John]

Thanks. Both the rewards cards have AFs, but not the Discover and Citi.

I'm guessing unless I'm getting people signed up for these, I probably won't get a good return over the AFs though, unfortunately.

The Chase Disney can be Product Changed (PCed) down to the no Annual Fee (AF) Chase Disney card.

I'm not sure about the Amex Delta card, but I'm guessing you get a companion pass once a year. I'm just starting in the Amex world, but it seems they can be pretty persnickety. Wouldn't want to limit future bonuses because of cancelling, but I'm not sure how Amex would react. Other Amex experts can help here.

 

[EACarlson]

Any recommendations for week long parking at JFK?

I got a great rate through Hilton for a night at a Hampton and parking for 5 days at ORD. Night plus parking was only about $30 more than just parking at ORD. Might be worth a shot, but I have no idea if it's available at JFK.

 

[MrPTato]

Great info. I do have the IT card, meant to say that. You make some great points about keeping all but Citi.

You mentioned I don't have that many cards, which I was thinking was getting too high. Haha. I know about the 4/24 rule, but how many open cards would be considered "getting up there" or too many?

In my mind, 10 seems to start getting up there, but it really is personal preference. Some people only use cards where they are earning bonus points and they always seem to have "that one card" for the store or category. Now you are mitigating all your rewards across different structures (cash back, MR, UR, Southwest RR, etc.) and it takes time to accrue those up to something useable. I have had discussions off these boards and elsewhere that have over 50 open credit cards. Who wants to manage all those? I sure don't!

 

[EACarlson]

I have some questions regarding closing credit cards/accounts. Right now, I have the following cards:

Delta AmEx - member since 2014, just upgraded to platinum for bonus sky miles rewards still need to hit my msr.
Citi card - opened in 2017 - mainly used for balance transfers to lower interest rates.
Discover - opened in 2018 for same reason as Citi.
Disney Chase card - opened in 2019.

I’ve been in bad CC debt for years, hence the balance transfer cards. I’ve been working like crazy a couple extra pt wfh jobs during covid and am at a point I should have all cards paid off by end of May, or close to depending on my hours this month. Needless to say, I’m ecstatic to be at this point.

My questions:
1. Should I close any of the cards?
2. If so, how many?
3. Should I space out the closings?
4. Does it hurt my credit score to keep them open vs close them?

I’m mainly thinking about the Discover and Citi due to the others being rewards cards. TIA for any knowledge you’re able to pass along.

The Discover is a rewards card, you can probably call Citi and have them Product Change it to a DoubleCash.

1. I wouldn't, I would probably product change a couple of them. The Citi card to a DoubleCash, and the Chase Disney to the no annual fee. The Delta Plat, I could see keeping if you feel you get the Annual Fee's value out of the companion ticket, otherwise you could downgrade it to the Blue without an annual fee, that's what I did with mine when they raised the annual fee.
2. N.A.
3. N.A.
4. For optimal scoring you want at least three open revolving accounts. Closing wouldn't affect your age of accounts, closed accounts stay on your report for 10 years.

 

[punkin]

In case anyone is interested...my FIL's platinum delta amex retention offer was 30k delta miles with no spend or $222 statement credit with a $2k spend. I took the miles.

 

[GBRforWDW]

The Discover is a rewards card, you can probably call Citi and have them Product Change it to a DoubleCash.

1. I wouldn't, I would probably product change a couple of them. The Citi card to a DoubleCash, and the Chase Disney to the no annual fee. The Delta Plat, I could see keeping if you feel you get the Annual Fee's value out of the companion ticket, otherwise you could downgrade it to the Blue without an annual fee, that's what I did with mine when they raised the annual fee.
2. N.A.
3. N.A.
4. For optimal scoring you want at least three open revolving accounts. Closing wouldn't affect your age of accounts, closed accounts stay on your report for 10 years.

Thanks for the info. I don’t think I knew about the companion with the AmEx. I’ll have to look into that a bit more.

 

[GBRforWDW]

In case anyone is interested...my FIL's platinum delta amex retention offer was 30k delta miles with no spend or $222 statement credit with a $2k spend. I took the miles.

So, keep the card, pay the annual fee and get 30k miles, is that right?

 

[mmmears]

Are people getting retention offers on the Aspire? DH called and all the offered him was 10k points (which is worth $50 I think) for a very expensive card. He hasn't used it much because (understandably, I think) we haven't traveled at all this year.

Any advice?

 

[elgerber]

In case anyone is interested...my FIL's platinum delta amex retention offer was 30k delta miles with no spend or $222 statement credit with a $2k spend. I took the miles.

was this via chat or phone?

 

[LB002]

I got a great rate through Hilton for a night at a Hampton and parking for 5 days at ORD. Night plus parking was only about $30 more than just parking at ORD. Might be worth a shot, but I have no idea if it's available at JFK.

I'll look into it!

 

[punkin]

So, keep the card, pay the annual fee and get 30k miles, is that right?

That is correct.

 

[becauseimnew]

Finally made Globalist! Plus earned the FNC for reaching the $15k spend and for earning Globalist status, should get a 3rd certificate with my card anniversary in 8 weeks. What are some cool places to use the Cat 1-4 FNC? And I just have to book the rooms by the expiration date correct?

 

[mmmears]

One more question - anyone here know what the Globalist perks are when staying at a Hyatt Centric? (never stayed at a Centric before so I'm not sure they have the same options as other Hyatts).

 

[punkin]

was this via chat or phone?

On the phone. My FIL sat next to DH while he called.

 

[gottalovepluto]

I have some questions regarding closing credit cards/accounts. Right now, I have the following cards:

Delta AmEx - member since 2014, just upgraded to platinum for bonus sky miles rewards still need to hit my msr.
Citi card - opened in 2017 - mainly used for balance transfers to lower interest rates.
Discover - opened in 2018 for same reason as Citi.
Disney Chase card - opened in 2019.

I’ve been in bad CC debt for years, hence the balance transfer cards. I’ve been working like crazy a couple extra pt wfh jobs during covid and am at a point I should have all cards paid off by end of May, or close to depending on my hours this month. Needless to say, I’m ecstatic to be at this point.

My questions:
1. Should I close any of the cards?
2. If so, how many?
3. Should I space out the closings?
4. Does it hurt my credit score to keep them open vs close them?

I’m mainly thinking about the Discover and Citi due to the others being rewards cards. TIA for any knowledge you’re able to pass along.

I would keep 1 (DL since you’re working an angle on it), maybe 2 (as long as the card has no annual fee and some sort of benefit like the Disney one if you downgrade it to the no annual fee card). Close the others, you don’t need the temptation down the road and you definitely don’t have the time right now to be dealing with them. Even cards you don’t use require attention for fraud and making sure they show some activity every few months. Time to Bye, Felicia those puppies Your credit score will be fine. It might dip a bit in the short term but if it keeps the temptation down in the future it will absolutely be worth it.

Long term I would switch to a cashback debit card. They aren’t super common but Discover has one and there are some others out there. It’s not an area I know much about but if you can find one with no fees and has some sort of reward so you can get something back on your purchases without the temptation of credit lines it would kinda be the best of both worlds.

(And CONGRATS on paying so much down!!!)

 

[kmc8826]

Are people getting retention offers on the Aspire? DH called and all the offered him was 10k points (which is worth $50 I think) for a very expensive card. He hasn't used it much because (understandably, I think) we haven't traveled at all this year.

Any advice?

I don’t know about the Aspire specifically but I would say try again and maybe you will get a better offer. I went from a no offer on my Plat last month to MR’s if kept open. I waited a week and then had everything paid off other than fee as I was fully intending to close it. So that will sometimes work. On the other hand, last month I also did a retention chat on my husband’s Green and could only get like 7500 MR’s after trying twice. (When I had a retention offer double that on mine the month before).

I just think there are a lot of factors. And it being Amex those factors change!

 

[kmc8826]

One more question - anyone here know what the Globalist perks are when staying at a Hyatt Centric? (never stayed at a Centric before so I'm not sure they have the same options as other Hyatts).

I am new to Globalist too but I would maybe just call the property you are thinking of and ask. I know with Covid individual properties are handling things differently and there does not seem to be a set rule other than the standard benefits that might be offered.

 

[wanderlust7]

Finally made Globalist! Plus earned the FNC for reaching the $15k spend and for earning Globalist status, should get a 3rd certificate with my card anniversary in 8 weeks. What are some cool places to use the Cat 1-4 FNC? And I just have to book the rooms by the expiration date correct?
View attachment 567124

Congrats!

Check out date needs to be before the certificate expiration.

https://help.hyatt.com/en/faqs/world-of-hyatt/world-of-hyatt-awards.html#/10

 

[trenty]

In my mind, 10 seems to start getting up there, but it really is personal preference. Some people only use cards where they are earning bonus points and they always seem to have "that one card" for the store or category. Now you are mitigating all your rewards across different structures (cash back, MR, UR, Southwest RR, etc.) and it takes time to accrue those up to something useable. I have had discussions off these boards and elsewhere that have over 50 open credit cards. Who wants to manage all those? I sure don't!

@GBRforWDW - I agree with what is stated here. And since you are fresh out of debt, closing cards is proabably a good idea. @gottalovepluto gave some good advice about keeping only one or two cards for now. We have closed almost all cards that we don't use and have not seen any hits to our credit score. I keep open the 5 cards that I use and two others that come in handy when traveling. Only one of these cards has an AF. I only acure URs, MRs and cash back from Discover IT.

 

[happ]

Thanks. Both the rewards cards have AFs, but not the Discover and Citi.

I'm guessing unless I'm getting people signed up for these, I probably won't get a good return over the AFs though, unfortunately.

If you have the Disney card with an annual fee, you can product change to the no-fee card. As far as closing cards, my score always drops a little after closing a card. It does go back up after a while.