At least once a year, it’s a good idea to take stock of the credit cards in your wallet. Are you still using each one for the reason you signed up? And more importantly—are those reasons still worth the annual fee?
While going through my own cards recently, I noticed several that I’ve been keeping for just one specific purpose. It’s helpful to identify those single-use cards, because if that purpose is no longer relevant—or if another card does it better—it might be time to say goodbye.
In this post, I’m not talking about co-branded hotel or airline cards, since those are often tied to perks with a specific company. If you’re no longer loyal to that brand, it’s probably time to reconsider. I’m also excluding general cashback or fixed-category cards, which are often worth keeping for everyday spending.
These are the cards I’m currently holding onto for just one reason—and in each case, that reason still works for me.
Apple Card
I originally signed up for the Apple Card when we bought a new iPhone. I keep it because it earns 3% cashback on Apple purchases and offers interest-free financing through Apple Wallet. There’s no annual fee, and we always have it handy since it’s integrated into our phones.
Citi Rewards+
The Citi Rewards+® card has some neat features for a no-annual-fee card, such as 2% back at supermarkets and gas stations and the “round up” benefit on points. But the real reason I keep it? The 10% rebate on redeemed ThankYou points (up to 100,000 annually).
When I used our Citi points to book flights to Iceland, I got 10,000 points back—worth $100. That alone justifies keeping this card in the mix.
Unfortunately, the Rewards+ card appears to have been quietly discontinued—it’s reportedly no longer available for new applicants or even as a product change. Fortunately, existing cardholders can continue to keep and use the card, and if Citi’s past behavior is any guide, they’ll likely allow that for quite a while. That makes this a great example of why it can be worth holding onto grandfathered cards, especially when they come with a niche benefit you can still use.
Disney Visa
I’ve had the Disney Visa card from Chase since the day it launched. I don’t spend much on it anymore since it only earns 1% back—even on Disney purchases. But I keep it for the exclusive perks and discounts at Disneyland and Walt Disney World. Access to certain experiences and photo ops makes it worthwhile for us as occasional park visitors.
Citi Custom Cash
I picked up the Citi Custom Cash® card because it earns 5X ThankYou points in your highest spending category—one of which is entertainment. We go to a lot of theater and concerts, and this is a perfect fit for those expenses.
Discover Card
The Discover it® card is a pure cashback play. Most purchases earn 1%, but each quarter brings new 5% bonus categories (up to $1,500 in spending). That’s $75 in cashback per quarter, or $300 a year—again, on a card with no annual fee. It’s an easy win if you keep track of the rotating categories.
Final Thoughts
Funny enough, every card on this list has no annual fee. That’s probably why I have no hesitation in keeping them around for just one niche benefit. If I had to pay $89 a year to keep the Citi Rewards+ just for that 10% rebate, I might not feel the same—but since it’s free to hold and no longer available, it’s a card I’m glad I kept.
Next up on my to-do list? Reviewing our travel co-branded cards. I have a feeling I’m holding on to more of those than I need.
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4 comments
What about holding the National Credit Card of Texas – the Buc–ee’s Platinum Mastercard with its 5% discount on Buc–ee’s gas purchases? Seems more of a keeper than that fay Tinkerbell card…
Sounds good but the reason I don’t value the Apple card is that Apple is rarely the cheapest place to buy a new Apple product. There are some exceptions for student pricing but generally, I find better (more than 3% better) prices at other retailers like Sam’s, Costco, etc. Also, it may be no interest but why finance a phone to begin with? That is the first rule of using credit cards is to not buy anything you can’t repay in the same month.
The problem with an Apple card is that most Apple products can be bought for less through other sources like Amazon, so any % on Apple purchases is negated. Also, being a branded card, it might have a negative overall impact on FICO scores like other store-branded cards. Many cards can be integrated into Apple Wallet.
I have a CNB Crystal card with no AF and a massive credit line. I keep the card because it boosts my credit score.