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So I went on an app spree yesterday after all 3 of my secured credit cards hit the 6-7 month mark.
I was approved for the following:
1.) AMEX Platinum
2.) Amex Gold Cash Rewards
3.) Chase Sapphire Preferred 6k Limit
4.) Chase Freedom 5k Limit
5.) Capital One- 500 dollar Limit (LOL at capital one)
So my questions are the following:
1.) Should I call capital one and tell them I do not want the 500 dollar card?
2.) I opened a 3k secured card on 04/12 with capital one. Should I close this?
3.) I opened a 1,200 dollar secured card on 05/12 with bank of america. Should I close this?
4.) I opened a 1,200 dollar secured card on 05/12 with applied bank. Should I close this?
Definitely done apping for anything for a while.
Please let me know!
Amex Gold Cash Rewards? I think you mean PRG.
1.) Should I call capital one and tell them I do not want the 500 dollar card?
You most likely applied "average credit" version of the card (which hands out low limit and high APR). Keep the card for now.
2.) I opened a 3k secured card on 04/12 with capital one. Should I close this?
Keep this card for now.
3.) I opened a 1,200 dollar secured card on 05/12 with bank of america. Should I close this?
Close this card.
4.) I opened a 1,200 dollar secured card on 05/12 with applied bank. Should I close this?
Close this card.
@trumpet-205 wrote:Amex Gold Cash Rewards? I think you mean PRG. Correct PRG.
1.) Should I call capital one and tell them I do not want the 500 dollar card?
You most likely applied "average credit" version of the card (which hands out low limit and high APR). Keep the card for now.
2.) I opened a 3k secured card on 04/12 with capital one. Should I close this?
Keep this card for now.
3.) I opened a 1,200 dollar secured card on 05/12 with bank of america. Should I close this?
Close this card.
4.) I opened a 1,200 dollar secured card on 05/12 with applied bank. Should I close this?
Close this card.
Thanks for the tips on the others. Curious though are you saying I should keep the capital one secured because of the limit or why?
I'd keep one secured card open just so you can build more payment history as you just got 6 new card. Capital One secured is better than BofA and Applied.
To play safe : I would continue to keep the account for at a year or two then at the end of the year call those secured Credit Cards company and see if they can waive the fees . Keep everything for at least a years or two years on time payment would be always better.....just my opinion...
@trumpet-205 wrote:I'd keep one secured card open just so you can build more payment history as you just got 6 new card. Capital One secured is better than BofA and Applied.
Should I ask chase to consolidate the freedom and sapphire preffered so I have 1 card (CSP) with an 11k limit?
Congrats
Wow those are some nice cards. Congrats ! . You can try calling Cap1 for a CLI before you decide to close it. Good luck!
@spudbro wrote:
@trumpet-205 wrote:I'd keep one secured card open just so you can build more payment history as you just got 6 new card. Capital One secured is better than BofA and Applied.
Should I ask chase to consolidate the freedom and sapphire preffered so I have 1 card (CSP) with an 11k limit?
Do you want 5% rotating category from Freedom?