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3 major credit cards approved!!!!

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bmd0224
New Contributor

Re: 3 major credit cards approved!!!!

Here's the deal:

 

If you close your oldest card it will still count on your credit report in your age for 10 years. Get rid of that card with the annual fee that gives you nothing!

 

Keep all the cards with $0 annual fees open as they help you in the long run and just dont' use them unless it's every so often and pay in full! 

01/11/13:
EQ Fico: 716 (from myfico)
TU Fico: 719 (from Walmart)
EX Fico: 719 (from myfico)

Chase Sapphire Pref. II AMEX Platinum II Amex PRG II Amex SPG II Citi AAdvantage II Barclays US Airways II Chase Freedom
Message 21 of 26
baseball1313
Valued Member

Re: 3 major credit cards approved!!!!

It really depends on the bank. Some like at least a year of good payment history. Some you can get away with 6 months (AMEX). Lenders are going to want to evaulate your spending patterns and see what type of balances you will carry. If I were in your shoes, I would wait a year and then CLI 1 or 2 to see what they come back at you with and whether SP or HP. Then you can make your decison on the other two from there.

My Wallet- , AMEX Green (npsl), DiscoverIT- $8,500. Home Depot CC (Citi) $4,000. Care Credit CC- $12,800. BankAmericard - $900. Express(Comneity)- $550


TU FICO: 723 (6/24/13)
EQ FICO: 686(5/23/13)
EX FICO (AMEX PULL): 690(6/3/13)


Message 22 of 26
HiLine
Blogger

Re: 3 major credit cards approved!!!!


@bmd0224 wrote:

Here's the deal:

 

If you close your oldest card it will still count on your credit report in your age for 10 years.

 


I do not see any evidence that closed trade lines are reported for 10 years. Can you provide the source of this information? Smiley Happy

Message 23 of 26
gstq34
Contributor

Re: 3 major credit cards approved!!!!


@HiLine wrote:

@bmd0224 wrote:

Here's the deal:

 

If you close your oldest card it will still count on your credit report in your age for 10 years.

 


I do not see any evidence that closed trade lines are reported for 10 years. Can you provide the source of this information? Smiley Happy


There is a sticky thread at the top of the credit card topic on closing CC



Starting Score: 573
Current Score: 764 EX (FAKO)
Goal Score: 760 all 3


Take the myFICO Fitness Challenge
Message 24 of 26
kampfer09
Frequent Contributor

Re: 3 major credit cards approved!!!!

It stays on your report for 10 years or longer like my car loan from 1999 it's about to fall off in 2016 according to the 3 CB.
Message 25 of 26
HiLine
Blogger

Re: 3 major credit cards approved!!!!


@gstq34 wrote:

@HiLine wrote:

@bmd0224 wrote:

Here's the deal:

 

If you close your oldest card it will still count on your credit report in your age for 10 years.

 


I do not see any evidence that closed trade lines are reported for 10 years. Can you provide the source of this information? Smiley Happy


There is a sticky thread at the top of the credit card topic on closing CC


I am reading the sticky thread right now. It does say that closed accounts will be deleted after 10 years. Does this mean closed accounts will be reported for 10 years?  Not sure where this information comes from. Hmmm...

Message 26 of 26
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