Oh man.. what a pain. If there is a way to collapse them, I still have not found it. Luckily I have fewer employee subusers, but I have a few different Chase card accounts and, yes, my QB banking area has many times more "cards" than my actual number of credit card accounts, and my balance sheets are basically unreadable without collapsing them all into something sensible. 

Sorry I can't be helpful, but I wanted to pile on to your primal scream in case someone in QB product is listening to our collective pain!