At a crossroads... Could use some guidance.

[Anonymous]

Okay,

So here is the situation, and any guidence would be great.  I found out that I was just turned down for the Amex platinum card (after recon) due to a baddie to fall off in a year and a half and the AAoA.  I  probably was getting a little ahead of myself in putting in the application, but I had the itch.  So now I am now up to 7 inquires for the year.  My current financial situation is follows:

Mortgage ~ 271k

Student Loan ~ 45k

Auto Lease ~ 15k

Chase  Freedom ~  $528 of $2000 limit (No AF, pay in full each month)

Cap1 ~ 0 of $500 limit  ($39 annual fee)

BBCC ~ $1000 of $2400 limit. (No AF, 0% interest until 2013, paying down slowly)

1 ancient baddy to fall off in December 2012 (A year from this december)

So while, my credit is growing and I plan on hitting my Chase big time, I am curious to see what others recommend for the path forward.  I would love to ditch the Cap1 and get another prime card to go with my Chase (Citi would be good, but they are tough to crack).  So now I need to determine whether,  I should pull the trigger on one more card;  pay off the Best but card off entirely (have the cash) or continue to slow pay it down; and what to do about that pesky Cap1 card.  If you were in my shoes, what would you do?

[Wolf3]

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@Anonymous wrote:

Okay,

So here is the situation, and any guidence would be great.  I found out that I was just turned down for the Amex platinum card (after recon) due to a baddie to fall off in a year and a half and the AAoA.  I  probably was getting a little ahead of myself in putting in the application, but I had the itch.  So now I am now up to 7 inquires for the year.  My current financial situation is follows:

Mortgage ~ 271k

Student Loan ~ 45k

Auto Lease ~ 15k

Chase  Freedom ~  $528 of $2000 limit (No AF, pay in full each month)

Cap1 ~ 0 of $500 limit  ($39 annual fee)

BBCC ~ $1000 of $2400 limit. (No AF, 0% interest until 2013, paying down slowly)

1 ancient baddy to fall off in December 2012 (A year from this december)

So while, my credit is growing and I plan on hitting my Chase big time, I am curious to see what others recommend for the path forward.  I would love to ditch the Cap1 and get another prime card to go with my Chase (Citi would be good, but they are tough to crack).  So now I need to determine whether,  I should pull the trigger on one more card;  pay off the Best but card off entirely (have the cash) or continue to slow pay it down; and what to do about that pesky Cap1 card.  If you were in my shoes, what would you do?

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Do nothing for 18 months.     No reason to pay off a 0% early.  Cap1 has prime cards, let this age for now.   When the baddie falls off, you will be in great shape with lots of options.

[DI]

Join a good credit union. 

[RockinRay]

+1 to what DI stated.

Ray

[kjm79]

Only thing I would say about not paying off the BB card now is that it makes your utilization high.  If you don't have a short term need to increase your scores, take advantage of the 0%.  If you want to get your scores up sooner, pay down the card.  Joing a CU, as previously said, and just letting your accounts age is really all that's left other than that. 

[Anonymous]

How old are your accounts?

[Anonymous]

My oldest account is 11 years, although, only recently have I started to get back into credit cards.   My AAoA is 4 years.