Advice/opinion on closing a "new" card

[6speed8]

Filed Ch 7 in February 2015. Had my 341 meeding in April. In May I took a shot on credit cards. So I got the First Premier approved for $300. An hour later, Credit One for the same which they increased $200 after 2 months unsolicited. The next day, Capital One Platinum for $500 which went up to $2500. A week after discharge in June, I applied for a Quick Silver card. Approved at $1000 and since increased to $3000. The First Premier is a bend-me-over 36%. Today while making a deposit to my car fund at the credit union, I applied for a card with them to develop more of a relationship when car loan time comes later this year. They gave me a $500 card at 0% for 6 months, then 16.99% Capital and Credit One's are 24%. Balance transfer is 9.9% for the first 6 months, 16.99 afterwards. I'm thinking of transferring the $239 First Premier balance to the credit union card. My intention was to pay off and close the FP card anyway by April. My thinking is A -  let me save 25% on the interest and B - Since the three cards are within hours of each other in age and not months or years, it really shouldn't hurt my length of credit history. If anything, I thought an underwriter would think I was smart for getting rid of the 36% card. Is that a bad assumption on my part ?

EDIT: My total credit lines will be $6800 with the new card. $6500 if I close First Extortion.

[SouthJamaica]

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@6speed8 wrote:

Filed Ch 7 in February 2015. Had my 341 meeding in April. In May I took a shot on credit cards. So I got the First Premier approved for $300. An hour later, Credit One for the same which they increased $200 after 2 months unsolicited. The next day, Capital One Platinum for $500 which went up to $2500. A week after discharge in June, I applied for a Quick Silver card. Approved at $1000 and since increased to $3000. The First Premier is a bend-me-over 36%. Today while making a deposit to my car fund at the credit union, I applied for a card with them to develop more of a relationship when car loan time comes later this year. They gave me a $500 card at 0% for 6 months, then 16.99% Capital and Credit One's are 24%. Balance transfer is 9.9% for the first 6 months, 16.99 afterwards. I'm thinking of transferring the $239 First Premier balance to the credit union card. My intention was to pay off and close the FP card anyway by April. My thinking is A -  let me save 25% on the interest and B - Since the three cards are within hours of each other in age and not months or years, it really shouldn't hurt my length of credit history. If anything, I thought an underwriter would think I was smart for getting rid of the 36% card. Is that a bad assumption on my part ?

EDIT: My total credit lines will be $6800 with the new card. $6500 if I close First Extortion.

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Get rid of First Premier and Credit One; you no longer need that junk.

[6speed8]

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@SouthJamaica wrote:

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@6speed8 wrote:

Filed Ch 7 in February 2015. Had my 341 meeding in April. In May I took a shot on credit cards. So I got the First Premier approved for $300. An hour later, Credit One for the same which they increased $200 after 2 months unsolicited. The next day, Capital One Platinum for $500 which went up to $2500. A week after discharge in June, I applied for a Quick Silver card. Approved at $1000 and since increased to $3000. The First Premier is a bend-me-over 36%. Today while making a deposit to my car fund at the credit union, I applied for a card with them to develop more of a relationship when car loan time comes later this year. They gave me a $500 card at 0% for 6 months, then 16.99% Capital and Credit One's are 24%. Balance transfer is 9.9% for the first 6 months, 16.99 afterwards. I'm thinking of transferring the $239 First Premier balance to the credit union card. My intention was to pay off and close the FP card anyway by April. My thinking is A -  let me save 25% on the interest and B - Since the three cards are within hours of each other in age and not months or years, it really shouldn't hurt my length of credit history. If anything, I thought an underwriter would think I was smart for getting rid of the 36% card. Is that a bad assumption on my part ?

EDIT: My total credit lines will be $6800 with the new card. $6500 if I close First Extortion.

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Get rid of First Premier and Credit One; you no longer need that junk.

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Agreed. That Credit One is next but part of me wants to keep it for online and reoccurring bills like XM, Amazon purchases,etc.They don't bother or harass me with any solicitations and I overpay them as well as the others well before due dates.

[SouthJamaica]

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@6speed8 wrote:

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@SouthJamaica wrote:

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@6speed8 wrote:

Filed Ch 7 in February 2015. Had my 341 meeding in April. In May I took a shot on credit cards. So I got the First Premier approved for $300. An hour later, Credit One for the same which they increased $200 after 2 months unsolicited. The next day, Capital One Platinum for $500 which went up to $2500. A week after discharge in June, I applied for a Quick Silver card. Approved at $1000 and since increased to $3000. The First Premier is a bend-me-over 36%. Today while making a deposit to my car fund at the credit union, I applied for a card with them to develop more of a relationship when car loan time comes later this year. They gave me a $500 card at 0% for 6 months, then 16.99% Capital and Credit One's are 24%. Balance transfer is 9.9% for the first 6 months, 16.99 afterwards. I'm thinking of transferring the $239 First Premier balance to the credit union card. My intention was to pay off and close the FP card anyway by April. My thinking is A -  let me save 25% on the interest and B - Since the three cards are within hours of each other in age and not months or years, it really shouldn't hurt my length of credit history. If anything, I thought an underwriter would think I was smart for getting rid of the 36% card. Is that a bad assumption on my part ?

EDIT: My total credit lines will be $6800 with the new card. $6500 if I close First Extortion.

---

Get rid of First Premier and Credit One; you no longer need that junk.

---

Agreed. That Credit One is next but part of me wants to keep it for online and reoccurring bills like XM, Amazon purchases,etc.They don't bother or harass me with any solicitations and I overpay them as well as the others well before due dates.

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Take that part of you and give it a good drubbing.

[Mantis350]

Get rid of CreditOne and First Premiere yesterday!  Don't even think twice about it.  Treat Cap1 with respect and they will grow with you over time. 

[sjt]

Liek the others mentioned get rid of Credit One and First Premier ASAP. You dont need them. Transfer everything over to you Quicksilver as you get rewards.

[Closingracer99]

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@Mantis350 wrote:

Get rid of CreditOne and First Premiere yesterday!  Don't even think twice about it.  Treat Cap1 with respect and they will grow with you over time. 

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God I hate Capital one... Triple pull you for an app, no CLI's and medicore customer service.

[6speed8]

LOL thanks all. I COMPLETELY agree about First Premier and Credit One. Dare I say I was just ecstatic about getting a credit card(s) and accepted the fact I was going to bend over on interest rates until the Cap One cards. Cap One started me at $500 and $750 with "Make your first 6 payments on time and we'll up them to $750 and $1000." I over payed well before due dates and they upped them to $2500 and $3000. We had a number of expenses the last few months with moving, new tires/alignment/brakes,etc so my balances are currently $1600 and $1900. I'll have them each cut in half over the next 3-5 months. The credit union prints the card on the spot in the branch but their system is down. I should have the card by tomorrow hopefully. Once I have it in hand and set myself up online, I'll transfer the $239 FP balance. Once confirmed, I'll call and close it. Credit One has a $289 balance so once that's paid off, I'll close it as well. The only justification I was giving myself for keeping it for the online/reoccurring bills was that it's a low credit line card in case the places I had charging to it ever got hacked.

[Mantis350]

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@Closingracer99 wrote:

God I hate Capital one... Triple pull you for an app, no CLI's and medicore customer service.

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I guess it really is YMMV.  I absolutely cannot stand Wells Fargo and some love it.  I like Cap1 because they've been with me since my rebuild and are some of my oldest cards.  I've always had great customer service with them and their CLI requests are all soft pulls as often as you want to hit the luv button.  Sorry to hear about your experience with them.

[6speed8]

Ok mom and dad lol, it's done. First Extortion is paid off. I'll wait a day or two for the transfer to clear, then close it.