I’ve got too many credit cards from churning for points and now having difficulty opening new cards. Is it better to close some accounts that I’m not using? I know utilization will take a hit but should go back up with the new cards.

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Yes. Otherwise, you can't keep track of all the annual fees and credits that you have to use to make it worth it.

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Certain banks such as Chase & BOA allow you to transfer much of your credit limit from one card to another, so before closing a card, move as much of the limit as possible. This will minimize the credit score hit as it looks at total available credit.

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5/24 rule…

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A few tangential thoughts:

1) for the credit cards you keep open you can request higher credit limits to keep your utilization in an acceptable range.

2) in many cases you don't have to cancel a premium credit card. Rather, you can downgrade to a cc that doesn't have an annual fee (i.e. CSR --> Chase Freedom Flex) this will keep the line open and keep your avg age of account higher.

3) you can payoff credit cards every week or two to keep utilization down

I got burned out of churning for a few years. Was good and I’m back in the game. Just a bit slower now. Banks caught up to us too after the CSR was introduced - and that’s forced a bit of a slowdown.

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