[Sasha]

I am on the journey to simplify life in all areas .
Finances are the first one to be done. I have over 20 credit cards ( all zero balance) and cannot decide which ones to keep.

Any tips?

[Megan]

Happy to dona credit card inventory with you here, but without knowing what cards you have it’s impossible to provide strategic advice.

Each card is like a chess piece it has different moves it can make and different strategies.

[Jacob]

To clarify step 4. I can give my recent situation. I earned the first 100K bonus with the Chase Sapphire Preferred and then waited out the 48-month bonus clock (while churning other cards in between).

To reset eligibility, I downgraded the card to a no-fee version and made sure I didn’t hold any Sapphire-branded cards for at least 6 months.

Once the wait was up, I reapplied, and now I am working on another bonus. This time only 60K but not awful.

Wife referred me so thats another 10-15K. But if churning is not your thing then honestly just downgrade or cancel to a number you like besides your oldest card!

[Jacob]

1. Keep Your Oldest Card: This anchors your credit history and helps maintain a strong credit age, even if you don’t use it often. Only close it if there’s a fee and no downgrade option.

2. Downgrade High-Fee Cards: For cards with annual fees that you don’t use much, call and ask to downgrade to a no-fee version.

This keeps your credit limit and relationship with the bank intact without costing you money.

3. Close Unused Cards: If a card isn’t adding value—no perks, no bonuses, no meaningful relationship—close it.

At zero balances, the impact on your credit score will be minimal.

4. Plan Bonus Resets: Some premium cards, like Chase Sapphire Preferred, allow you to earn their sign-up bonus again after a specific period (e.g., 48 months since you last earned it).

To qualify, you may need to close or downgrade the card and avoid holding any similar cards during that reset period (e.g., no Sapphire Preferred or Reserve for 6 months).

This strategy is great for maximizing rewards over time, especially if you’re into credit card churning for big bonuses. Be sure to check the issuer’s terms and timing requirements before closing a card.

5. Simplify for Admin Ease: Focus on keeping the few cards that work best for your spending habits (cashback, travel rewards, etc.).

A streamlined setup means less mental load and more time for what matters.

[Author]

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