Closing One More Credit Card

I just shrank my wallet by one more credit card as part of my effort to simply our finance

Back in July 2006, I applied for a Discover Miles card for the purpose of using its 12-month 0% balance transfer. Ever since I got the card, I haven’t used it for anything else, though Discover once in a while had promotions giving 5% cashback on qualified purchases. I never took advantage of any these promotions. After the 0% promotion ended in July, the card was basically idle in my wallet. Though I have owned several Discovered in the past, somehow I was never a fan of their rewards program.

As a travel card, the Miles card actually has quite good benefits, such as no expiration of miles accumulated and cash redemption, but I have a Citi PremierPass Card that I want to keep as the travel card (I don’t travel a lot though). Therefore, there isn’t much to hold on to a card that I have no plan to use. Plus since it’s only a little bit more than one year old, closing the account won’t significantly shorten my credit history.

So tonight I called Discover to close the account and move the credit line to another Discover card that I had since 1999. In fact, if I want to keep one Discover card, I will definitely choose the Miles card, not the regular card. The only reason to keep the regular card is its long history that I don’t want to lose.

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