Lowering Credit Limits & New Credit Cards
Currently it is as follows:
TD First Class Infinite - $25,000 Limit (Had since Aug 2012)
RBC Classic II - $3000 Limit - (Don't use, but I had this since 2007)
MBNA Smart Cash - $9,000 Limit (Had since 2013 July)
AMEX True Earnings Costco - $15,000 Limit (Had since Sept 2013)
Currently I use the TD FC for my business expenses roughly 50% of the limit each month
I don't use the RBC at all, but I've kept it because its my longest standing credit card.
The MBNA Smart I just got it from the $100 cash + its a decent card for gas/groceries
The Amex I got this one because Costco doesn't accept any credit cards beside Amex.
Here's the thing I'm looking at getting another Travel type Credit card that must have a highish limit - Roughly 20-30K because I'll be using 50% of the card every month just like my TD FC.
However, this card MUST be from a big bank! My company wont allow me to use my MBNA/Amex/Cap 1 because they cannot go pay my bill at the bank.. also no CIBC. I don't make the rules lol...
I'm worried that I have quite a few higher limit cards. Should I decrease my Amex card to say 5k, and my MBNA to 5K as I really don't use them that much besides from Gas/Groceries/Restaurants?
Also, would it be stupid to close my RBC one since I've had it since I was 18? Seems so pointless to keep a card around the house.
All my cards are currently no fee, but I don't mind paying a fee since this new card that I would like to get would be used quite a bit. 10-15k a month being charged.
Any advice would be awesome! Thanks!