Itās time of year again to reevaluate the credit cards in my wallet. I keep aĀ spreadsheet with all of my credit cardsĀ and their various statement closing, due, and annual fee dates. A bunch of them are either approaching an anniversary or the annual fee just posted, and the cons outweigh the pros of keeping the card.
Regardless of the reason, here are the four credit cards that Iām getting rid of this month:
Amex Platinum Business
It all started when American Express stopped paying out rewards at Simon Mall, then it escalated when GiftCardmall purchases stopped earning Amex points. When that $595 annual fee posted, canceling this card was a no-brainer.
Iām ok with not being in the Centurion club and slumming it in a Priority Pass lounge instead (thank you, Hilton Honors Aspire Card!).
I donāt need the airline fee credit and can live without the category bonuses. Bottom line: I can think of better ways to spend $595 and still earn points on gift card churning than this card.
Radisson Rewards Visa
Iāve gone back and forth on the Radisson Rewards Card for a while. I even canceled and re-applied a few years ago after having a change of heart. Hereās the thing: Radisson Rewards is one of the best hotel programs for earning free nights, both via hotel stays and credit card spending. However, Iāve been collecting these points for a while and still havenāt put them to use.
Maybe when that mythical Radisson Maldives finally opens, Iāll have a reason to get a Radisson credit card again. But for the time being, Iād rather save the annual fee. Besides, Radisson hotels are generally so cheap that it makes more sense to pay cash. And since the program is so generous, I can pay for my cheap stays and earn tons of rewards towards aspirational redemptions.
Citi AAdvantage Business Platinum Card
I picked up a Citi AAdvantage Business Platinum Card for my brother a while ago, and itās time to let it go. The card offers little in the way of rewards beyond the current 60,000-point sign-up bonus.
It does offer a $99 Companion Certificate after $30,000 spent in a year, but I prefer the $125 travel voucher from the personal AAdvantage Platinum Card. Plus, this cardās annual fee is higher at $99, so bye-bye Citi AAdvantage Business Platinum Card.Ā
Amex Bonvoy
My dad and brother still have the Amex Bonvoy Card, but now that Amex isnāt paying out rewards on gift cards anymore, there’s no point in keeping them. Sure, they occasionally get targeted for some great Amex Offers, but if I’m not earning points, then what’s the point?
This parting isnāt sorrowful, considering Marriott Bonvoy has been a disaster. Iām consistently not booking hotels with the program because Iām imagining the creative ways I might get Bonvoyed.
Final thoughts
Iām trying to minimize the amount of stuff I have. Over the last six months, Iāve Marie-Kondoāed my living and workspace no less than three times. There is too much stuff cluttering up my environment, and itās time to get rid of as much of it as possible, including credit cards.
If Iām not getting 200% value out of the annual fee Iām paying, it has to go. Because itās not just money wasted on annual fees Iām not milking, itās also more credit cards that I need to keep track of every month. Iām looking forward to a simpler, more high-impact earning strategy going forward.
Which credit cards (if any) are you getting rid of this month?
I thought Amex was only not paying out for gift cards on their cards not co/branded?
Reports say otherwise. One of my readers used his Marriott card to buy cards online and didn’t earn points.
Arianna, in your Simon post you mentioned using your Radisson card. Any issues there? I want to keep mine ($60 AF for a night) but would love to top off my 10k spend for another “free” night plus points.
None, but I also never put that to heavy use. I didn’t have a big credit line and only used it as a back-up when my other cards were maxed out and I wanted to keep churning.
Thanks. Funny enough they gave me a credit line 2x my 2nd highest. I did about 4k earlier this week with it but probably won’t do any more.
Marie-Kondoāed?
Google it. It’s epic.
Oh I know who she is. Iām just shocked anyone would subscribe to her crap. Really? Say goodbye to your stuff as you throw it out?
I used to like this site but I think I just lost all respect.
Time to KonMarie this one!
In this context she is clearly referring to only keeping cards that “bring her joy” and simplifying her arsenal.
Lol! Something like that.
Chill Kirk. Waning to downsize and waste less doesn’t make anyone Dr. Evil.
I made no reference to her being Dr Evil. Maybe Dr Full of Crap. I donāt fault her though. Why shouldnāt she make millions off from the idiots who canāt figure this thing out on their own and need mental fool tools to get motivated. Thank items? Really? Bring joy? Do any things actually bring joy? Maybe itās me thatās the fool. But I donāt get why anyone falls for this crap let alone buying into the organizational services she provides.
I agree – the thanking stuff is weird. The only thing I buy into is the concept that less is more. That if your belongings aren’t useful or serve some kind of purpose (whether practical or emotional) you shouldn’t hoard them. I read another psych study that showed how clutter causes mental distress – having too many things to look at stresses us out. I feel much better now that I’ve downsized.
Would love to see a post on what your strategy is going forward without AmEx cards!
Working on it!
Are you sure about the Amex GCM issue? I’ve been searching for more datapoints but can’t seem to find any. Only ones I’ve found are people saying it’s not the case and they’re still issuing points. My points posted all the way up to the 24th or whenever my last purchase was but was holding off till i heard more.
I hope you’re downgrading the Radisson card and PC’ing the AA biz (although not sure if that’s possible for biz like the personal) to a citi dividend. Also not sure about the co-branded amex cc’s not getting points. My last purchase on my Bonvoy biz card was 8/16 and I not only received the points but also the FNR for the 60k spend.
Anybody has thoughts or info on the Chase Ink Visa card? I don’t have one yet, but the bonus points to open an account is pretty good. This one doesn’t have the annual fee. TIA
have not has š
All Ink cards are great, hardest part is being eligible (having at least a hobby business and being under 5/24).
Thanks, Burton. They seem good. . Iām a realtor , so the biz part is easy for me. Gonna open one up!
Any issues with buying VGC with an ink card?
None yet. I think I bought about 7k with CIU between GCM and Simon plus some bank account fundong before remembering that exceeded my business income that I put on my application (real but small). May not matter, but using personal cards for that now.
Dropped my biz Plat, and will drop my Bonvoy too (makimg sure to transfer all available credit to my keeper cards before I close it). Already pared my cards years ago. Just getting cards for signup bonuses isn’t worth bothering with unless they have some sort of ongoing spend bonus. And yes, decluttering is a relief. Been donating/dumping stuff for a while – and not replacing with more useless stuff – and had this exact convo today with my CSR at Simon – she’s dumping all her crap too.
Not convinced Amex stopped giving points at GCM…so my Surpass, BB+ and Golds are staying.
gold & GCM? What am I missing?
how about ihg card thinking of not renewing it cuz of drop of category 1 to 4 now
Ariana, have you ever had issues with your Discover card? Hearing they may frown upon giftcardmall purchases
Some have had good success with Discover, but I’ve also heard of others who have been shut down for too much MS. Keep in mind that if you are shut down before the end of your first year, you will not earn the additional cash back match that comes after month 12.
None so far, but YMMV.
I haven’t had an issue so far. Last month I even cycled my credit limit. But YMMV.