I will provide a 101 tutorial on what cards you should absolutely have, how to manage your churn cycles, and how to keep track of those pesky annual fees.
For starters, create an Excel spreadsheet of all the cards you have that charge annual fees and the due dates along with the amounts that each credit card charges. Next, create another column of how much you’ve paid in annual fees for the year so that you are honest with yourself. This year I’ve paid quite a bit in annual fees but the majority was due to the Citi AA Visa Executive card, of which I applied and was approved for two.
I will break down which cards I will keep and cancel and the reason for it at a later date. But for now, here’s a great color coded Candyland portrayal of what’s going on in my wallet.