I originally had 13 + cards (13 when I wrote this goal plus a few more beforehand), so I saw it in my best interest to close a lot of them, especially since I was out of debt (and still am!) and didn’t need to move my money around for the best current interest rate.
I never felt like I needed to narrow it down to one card because I don’t overspend and I’m not at risk for running up any of my cards. Plus, if Suze Orman is right (I’m sure she is) about keeping some credit accounts open so as not to bring down your debt ratio and FICO score, I’m probably at a good point right now.
So this is what I have now: My AMEX Blue Card which I use to charge EVERYTHING I possibly can for the cash back points. I have a Mastercard that also gives cash back with no minimum charge. I use that only when I buy from somewhere that doesn’t accept AMEX. I have another Mastercard which I decided is a good idea to keep because in their desperate attempt to keep me as a customer they gave me 3.99% for life. I’ll use that only if I ever really need to. Then I have my trustworthy Discover Card. They gave me 0% for I think 9 months while I was getting out of debt. That was great. Hopefully I’ll never need that again, but hey, I’ll keep that around just in case. I haven’t closed my New York & Co. card yet but I will. I just don’t feel like it right now, plus maybe I’ll use one of their discounts before I close it. There’s a slight chance I’ll open another Visa with a low credit limit only because there is something I might buy that believe it or not, only accepts Visa. But that’s only if I ever want to buy it again. 5 years ago

But it was so I could get 20% off my first purchase. I got two pairs of pants at New York & Co., buy one pair, get the second pair half off, then they gave me the extra 20% off for signing up for the card. I know I’m supposed to be closing accounts, but I’m also all for saving money. I’ll just close the account after a while. They are sending me a $15 off coupon so maybe I’ll find something else I want and use the coupon. The encouraging news was that when the cashier went to verify my credit she got instant approval to open my account. She said I was her first customer given instant approval, so I must have good credit. 5 years ago

they don’t value my account. I called and was able to cancel my account on an automated system without even being transferred to an account manager. Before I canceled I found out that since I last called a few months ago, my available credit was raised $3,000 making it $18,000. 5 years ago

I never wound up using the coupons they sent me. They weren’t that good. It was a booklet of one coupon per month for six months for one specific item each month. It tried going once and the bra the coupon was for looked really cheap. They tried to give me another 6 months worth of coupons but I closed the account anyway. I don’t need their coupons. I’m a smart shopper. 5 years ago

today I received a credit card statement from the GM account I closed in January. So I called to verify that the account was closed. They said it was closed but that I received the statement with a $.03 credit because of a class action suit that was filed. My account is closed and I don’t get my measly share of the class action suit because of my account being closed. I was just burdened with this piece of mail I had to follow up on. Go figure. 5 years ago

Today I cancelled my Dell account. They actually make you wait 60 days after cancelling to reapply, but I don’t think I’ll need another computer within 60 days anyway, at least I hope! 6 years ago

Got rid of two Amex’s, Macy’s and Ann Taylor. Attempted to close Dell, but they have M-F business hours. Victoria’s Secret talked me into staying for now. They lowered my percentage rate from 22.8 to 9.9 (not like I wouldn’t pay the balance in full) and sending VS coupons for the next 6 months. I was recently thinking I need some new lingerie anyway, so I will use the coupons and then close the account. Rat bastards at Ann Taylor didn’t offer anything. I was actually able to close the account on an automated system. It’s so funny, with the other accounts I started off asking what my credit limit was and what my percentage rate for purchases and balance transfers was. They thought I needed a loan or something. Then I said I was just curious and wanted to close the accounts. They tried to get me to stay, but I closed the accounts I really don’t want. With the ones I want to keep, I need to call back to threaten closing and get a better rate in case I am ever in some unforeseen financial hell where I actually need a loan (ugh, don’t even want to think of that). Anyway, I’ve had enough for today. 6 years ago

I accumulated 13 credit cards (4 of which are store charge cards) through being in debt and accepting good offers to get out of debt, or by getting a percentage off a sale when accepting a store’s credit card. I don’t use these cards, and it’s not a good idea to have so much available credit. I’m out of debt, so it’s time to close some accounts. I will keep my new Amex blue card, the card I’ll use for everthing because it pays up to 5% cash back, I’ll keep my Discover, my only Visa, and my best MC. I’m getting rid of my MBNA Amex rewards after I receive my Amex gift card and pay off my last balance. These bastards just proved to me today that this card is more trouble than it’s worth. I just noticed that for the past two statements they were charging me a periodic finance charge. They claim it was for a returned payment (which wasn’t my fault). I paid my bill on time online it was returned because they charged my closed checking account which I had long since deleted from my account. How it got charged to that account I don’t know. I was told there wouldn’t be any fees for it because it wasn’t my fault. Then this. If I didn’t carefully scan my bill, the sneaky bastards would have kept the money. To hell with them. 6 years ago