I used to be really big on expanding my credit limits and get my credit scores super high. I would jump at any credit card deal or bank account bonus I came across. At my peak I had a FICO score of 805, 12k in business credit and 48.65k in personal credit limit.
I realize these numbers are on the low end for the churning crowd but when I first came across the Fat Wallet Forums I was working part-time making minimum wage (7.25). I was surprised I was able to get so many cards early on given my lack of credit history. It was a great game grinding my way up to the 800’s.
Anyways now that I am not working anymore and just focusing on my blog and enjoying my days I do find that managing all the cards to be a time-sink. Keeping track of each card and making sure there is regular activity and changing passwords semi-annual for security is a real chore.
I recently shutdown my crypto business and was closing the business credit cards. That got me to thinking that it would be a nice break not having to manage the extra data. So I then started looking at personal cards that I didn’t have much use for.
I closed my SunTrust account and a few AMEX and one of the Chase cards. Petal is gone, the Netspends, Oxygen and PODERcard. I also closed my old BBVA account which was used for the business.
I’ll just have 3 bank accounts that I use actively. Sofi Money since it includes my Dividend investments, my Charles Schwab which has mainly ETN’s with nice coupons each month. Lastly I am keeping my Dow Chemical Employee Credit Union checking/savings account’s. I heard about Dow from MilesPerDay, they have this really nice member Giveback program where you get the interest back on your loans and deposits.
The credit cards I’ll be keeping are:
- Citi Simplicity 3k
- Citi Rewards+ 2.8k
- Cap1 Quicksilver 11k
- Cap1 Savor 3k
- Cap1 Walmart 8k
- Synchrony Amazon 1k
- Lowes 2.85k
- Big Lot’s 1.5k
- US Bank Altitude Go 4.5k
- Amex Delta Blue 3k
- Chase AARP 3k
- Total 43.65k personal credit
I think that’s it for now. If you haven’t already please like and subscribe. Also feast your eyes on my lunch of waffles and 떡볶이.