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Closing Cards

June 27th, 2013 at 02:37 pm

I have accumulated a couple cards within the last year or so due to sign-up bonuses etc. and it is time to close all but the Chase Freedom.

The List:

1. Chase Sapphire
2. Chase Freedom
3. Sears (VISA)
4. Sears (Master Card)
5. Sears (Store Card)
6. J.C. Penny (store Card)
7. Best Buy (Store Card)

The Chase Sapphire was closed the other day to make sure the yearly fee didn't kick in and I was sure to transfer all my points to my Chase Freedom before doing so.

All of them except for the two Chase cards remained in our lock box, and quite frankly, I am not sure if they are all activated.

Closing all except for the Chase Freedom will be removing $22,800 in available credit. May effect our credit score slightly, but it is not like we are looking to apply for any loans in the next few months anyway.

Between the Chase Freedom and my local credit union credit card (oldest card), $15,000 total available credit between the two is enough, not that it matters to us anyway.

Posted in Budgeting, Credit Cards, Personal Finance | 2 Comments »

2 Responses to “Closing Cards”

  1. SecretarySaving Says:
    June 27th, 2013 at 04:09 pm 1372349353
    1372349353

    Great job!

  2. creditcardfree Says:
    June 27th, 2013 at 08:21 pm 1372364474
    1372364474

    Good idea to not have cards open that you aren't using.

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