How long do people keep their cards?

[EestiTiger]

In the past I have generally kept a card for close to the 12 months, just before the annual fee hits. In the recent past I have kept them maybe 6 or so months. I have started closing those with big minimum limits (ie $15k) not long after I get the points but any wondering if this will have any impact with the that institution next time I hit them up.

I also used to hang onto a couple of cards until a wise oracle on here pointed out there are no cards worth keeping. I ran some sums myself for my personal situation and have to agree.

I am interested to hear how long other people keep their cards.

 

[RooFlyer]

Once you are retired, best hang onto any you have, because its unlikely any more will be granted, absent a stong and reliable income stream (not impossible, but not easy for the types of income many retirees have).

I used to do the cc churn thing, but got bored with it. I kept and still have my main bank cards - business and personal - (to keep my account manager happy) and two others, including of course a 28 Degree card for overseas travel.

 

[burmans]

I am interested to hear how long other people keep their cards.

Long enough for the bonus points to land and the next application to be approved.

 

[levelnine]

If you are in the churning business, you will want to close them as soon as the bonus points hit because that starts the clock on the exclusion period.

Eg. as soon as you get the bonus points from the AMEX sign up bonus, close the card so the 18 month exclusion period starts.

 

[theblank]

I am interested to hear how long other people keep their cards.

well it obviously depends on what the purpose of the card is. If its worth keeping it, I keep it, if not, I cancel it before the Annual fee is due.

One of my credit cards has been held for 30+ years , since whenever Visa launched here. I am hanging on to that one just in case I get a gold watch at 50

 

[wansze82]

Too difficult to change over my all my automatic direct debits, so never so far

 

[Steady]

Too difficult to change over my all my automatic direct debits, so never so far

Your choice, but you miss a lot of potential bonus points

 

[LadyC]

I generally churn most cards but plan on keeping my St.George Visa for direct debits. Have had a little hiatus whilst I get some financing paid off.

 

[daft009]

Being self employed I rarely play the churn game. It takes too much time to get a new one..

But that's easily offset by the large number of business expenses I can put on

 

[opusman]

Too difficult to change over my all my automatic direct debits, so never so far

I have all those on a low annual fee card (still earns points though) that I do keep, the rest are fair game.