Seeking advice: Which credit cards should I keep?
Hello everyone,
I’m looking for some advice on which credit cards to keep and which ones to cut as I aim to streamline my finances and stay more financially organized. I would greatly appreciate any insights or recommendations based on your experience.
For context, I currently have both supplementary and primary credit cards. I won’t be letting go of the supplementary cards since they are under my parents, but I am considering which primary cards to retain. Below is a list of my current cards:
Supplementary Cards (Will be kept):
BDO World Elite Mastercard
RCBC Visa Infinite
Metrobank World Mastercard
BPI Signature Visa
EastWest KrisFlyer World Mastercard
Primary Cards (Subject to review):
BPI Platinum Rewards Mastercard - ₱570,000 credit limit
Metrobank Platinum Mastercard - ₱1.5M credit limit
BDO Platinum Mastercard - ₱1.7M credit limit
UnionBank Platinum Mastercard - ₱600,000 credit limit
RCBC Hexagon Club Platinum Mastercard - ₱1.5M credit limit
My primary considerations are:
Maximizing benefits - e.g., rewards, cashback, travel perks, and insurance coverage.
Minimizing costs - particularly annual fees and foreign transaction fees.
Avoiding redundancy - ensuring I don’t have overlapping benefits across multiple cards.
If you were in my position, which cards would you keep and why? Any insights on which cards provide the best long-term value would be greatly appreciated.
Thank you in advance for your help. I look forward to hearing your thoughts!
Note: I'm asking here since I cannot seem to create a post on the PHCreditCards sub.