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Posts: 977
Registered: ‎02-08-2012
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First Amex approval (Costco True Earnings) and Discover It! Should I cancel Cap One Platinum?

So I just went on a mini app spree as planned after my Chase/PSECU cards were about a year old, and it totally paid off.  Discover It pulled my TU, which is my worst report with a couple old baddies and I was approved anyway, which was slightly surprising, for a $1700 limit after recon.  A little low, but hopefully I can get a CLI eventually.  This will be great for my upcoming cruise to the Bahamas so I can pay vendors without foreign transactions fees.


Even better is that I was received my first ever instant online approval for a card, when I was approved for the Costco True Earnings Amex card with a $2000 limit.  I was disappointed when I just found out the Zync was discontinued and wasn't sure if my profile was ready for Amex yet, but I'm pretty happy to have been approved and be "in" with Amex finally.  Also, the 2% travel rewards will be great to pay all my cruise fees with.


So beyond sharing my happiness with these new cards, I also had a question.  With these new cards, I now have the following list of credit cards:


  • Amex Coscto True Earnings: $2000
  • Discover It: $1700
  • Chase Freedom: $3500
  • PSECU Combo: $1000
  • Best Buy: $4200
  • Capital One Platinum: $500

Obviously at this point, the Cap One Platinum is my only rebuilder card and that limit becomes less and less useful, since I will probably never get a CLI from Cap One. Is it worth keeping this card just to help my utilization in the future, or do you think I should just cut it loose and have one less to keep track of.  Or perhaps should I just sock drawer it until they cancel it, or sock drawer it and use it rarely so they don't.  What does everyone think might be the best idea?  Thanks!

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012

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