It’s hard to believe that we’re almost through 2023. For me, that means two things. I need to make sure that I’ve used all of my annual credit card benefits and I need to start looking at which cards I’m going to cut loose next year.
I’ve honestly been a bit lax about this task since 2020. Only the cards that provided no value were on the cut list. Some of the ones I was on the fence about stayed in the drawer for another year because I wasn’t signing up for many new cards, besides those offering cash back with no annual fees.
That changed in 2023 and I picked up some new cards with annual fees from $99 to $199. I’m not looking to pay any more in fees so some of the low performers have to go.
One card has been on the cut list for years but this is the year I’m going to rip off the bandage.
Citi Prestige
For a card with a $495 annual fee, there’s no place for this “premium card” in our wallet anymore. In fact, it fell so far from my mind that I’m struggling to use the $300 travel credit because I never used the card. That’s saying something because Citi Prestige’s credit is one of the easiest ones to use, as it’s good for almost any travel expense including parking, tolls, and taxis.
Since the credit is based on a calendar year, I can spend the rest of my 2023 money and my 2024 credit before canceling next year. Citi is making this move interesting because of the rumors of a new “premium” card to hit the market.
Ink Business Preferred
The only reason I still have this card is that I procrastinated about canceling it this year. I wrote an entire post asking why I still had the card and then forgot to call Chase in time. I’m not going to make the same mistake next year. As I said in my post, I don’t think this is a bad card but it overlaps with our other Chase cards to justify paying the annual fee.
JetBlue Plus
For our travels, I feel the JetBlue Plus card is a keeper. However, both Sharon and I have one of these cards because of the sign-up bonus. It’s not worth both of us paying the $99 annual fee as the only advantage is getting the 5,000 points on our account anniversary. Since JetBlue allows you to pool points, we can book all of our tickets under the account of whoever keeps a card and we’ll get the free checked bag and 10% rebate on award redemptions.
Delta SkyMiles® Gold Business American Express Card
This one I’m going to blame on American Express. I might have been happy to keep this card and pay the annual fee. We fly Delta enough where the $99 covers what we’d pay for checked bags in a year. However, with AMEX starting to crack down on getting signup bonuses on cards in the same family, it’s time to start getting some of the Delta cards we’ve never had. That means we can both get either the Delta Platinum or Reserve Personal or Business cards.
AMEX sets the rules and I just hope that we don’t get put into pop-up jail. That’s why I’ll sign up for a card for P2 before canceling P1’s card.
Final Thought
There are a few more cards that might have made the list. I’m still not sure if I want to keep our legacy IHG Rewards Select cards with the free night capped at 40K points. While they still have a $49 annual fee, it’s getting harder for us to use the 40K free night. I have plenty of free nights at Marriott hotels but as long as Sharon keeps going fishing from Cape Canaveral, it’s worth prepaying $100 for a hotel room at the nearby Residence Inn or Staybridge Suites.
For premium cards, I’m happy with the Venture X, Sapphire Reserve and AMEX Platinum. Each of them provides something worthwhile and justifies paying the annual fees. The rest of our cards have no annual fees so there’s no reason to get rid of those.
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3 comments
I don’t understand getting rid of IHG Select. For the 40k cert redemption it’s easy to get a room at a hotel (even with IHG rates) at up to $200 in the US. Overseas, you get even more value. At a minimum, to your example, you’d get an IHG hotel at Canaveral for $49 instead of paying $100 at the Residence Inn.
Any chance you might downgrade to another Citi card?
You are dumping the CITI Prestige? You are having trouble using the $250 travel credit that can be used for virtually any travel expense? I’m keeping it because I am able to us the 4th night free twice a year at a price that is cheaper than booking direct. So it easily more than pays for itself. Plus the 5X for all dining.