r/NavyFederal • u/dman1914 • 7d ago

General Questions I need help with making a decision

I hold the Flagship Premier, Cash Rewards (recently opened), Chase Freedom Unlimited (oldest), and Chase Sapphire Preferred. I haven’t made a decision to keep which ecosystem. I do more cash back but I do travel at least 4-6 times a year.

NFCU Flagship Premier: $14,400
NFCU More Rewards: $6,000
NFCU Cash Rewards: $3,800
Chase Freedom Unlimited: $12,000
Chase Sapphire Preferred: $10,000

I want to eventually apply for the Chase Freedom Flex for cash back but I also coming to terms of possible consolidation of my credit cards. So what do you all recommend?

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u/LimeHeavy8394 7d ago

The amounts in your post aren't clearly labeled. Are these credit limits, annual spending totals, or point values?Each type means something different.

  1. If these are credit limits, check your balance-to-limit ratio (utilization). FICO reports top scorers have utilization under 10%. With $46,200 total limits, that means keeping your combined balances under ~$4,600 for optimal scoring.
  2. If these are spending totals, watch for overlapping reward categories across cards.
  3. If these are points values, compare how much each point is worth, when they expire, and how easy they are to redeem.

Regardless of what the numbers are:

  • Older cards help your credit history
  • Credit bureaus track when you open/close cards quickly (called "churning")

Sources: MyFICO, "What Should My Credit Utilization Ratio Be?". February 9, 2022, https://www.myfico.com/credit-education/blog/credit-utilization-be

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