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Balancing usage on all of my credit cards? I think I have too many...

New Contributor

Balancing usage on all of my credit cards? I think I have too many...

Bleh, I've been going on such a credit card spree since I turned 18 two years ago that I'm beginning to realize I have more accounts than I can rotate. @_@ It's not that I can't pay them or handle them--I've never missed a payment and rarely carry a balance past a month. But now I have a group of four that really matter to me: AMEX Blue Cash Everyday, Chase Sapphire, Chase Freedom, and Discover More. The others are pretty much store cards and I have a Capital One card but I cannot stand them so I try to stay away from it. I'm trying to pay for everything with varying credit cards to keep them rotating and active but... jeez, I confuse myself sometimes.

 

Any tips on how to keep them all properly moving around? I don't want any of my accounts to atrophy, and I know AMEX in particular looks keenly at their customer's used credit limits. I still keep getting the itch to apply for more, too!


From left to right: NPSL; $10k; $6.2k; $4.5k; $4k; $3.5k; $2.75k; $2.3k
Other CCs: $2.5k American Eagle Visa, $2.2k Old Navy Visa, $1.7k Amazon Store; $1.55k BillMeLater; $800 B&N CC; $750 A&F CC
Message 1 of 6
5 REPLIES
Epic Contributor

Re: Balancing usage on all of my credit cards? I think I have too many...

They don't have to be used monthly... Just use as they benefit for the rewards and make sure once every 3 months should keep you active
Message 2 of 6
Mega Contributor

Re: Balancing usage on all of my credit cards? I think I have too many...

+1 what creditaddict said. Have you tried calling Cap1 and see if they have any upgrades available for your account. Specifically the Cap1 Quicksilver. If they say no, try contacting the EO either directly or through their Facebook or Twitter page. I believe you would be much happier with Cap1. IMHO

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 6
Senior Contributor

Re: Balancing usage on all of my credit cards? I think I have too many...


ccole93 wrote:

I don't want any of my accounts to atrophy


They don't really atrophy.  Check with each creditor and make sure you're meeting their minimum activity requirements to avoid closure.

 


ccole93 wrote:

I think I have too many...


If that's the case have you considered closing the ones you don't use much?  Or sock drwaering them?

Message 4 of 6
Super Contributor

Re: Balancing usage on all of my credit cards? I think I have too many...


takeshi74 wrote:

ccole93 wrote:

I don't want any of my accounts to atrophy


They don't really atrophy.  Check with each creditor and make sure you're meeting their minimum activity requirements to avoid closure.

 


ccole93 wrote:

I think I have too many...


If that's the case have you considered closing the ones you don't use much?  Or sock drwaering them?


+1.  Providing you don't have utilization issues, there is nothing wrong with closing cards that aren't benefitting you, and it sounds as if you are in a good place to decide.   A lot of people open a bunch of "useless" cards early on (to establish some credit, nothing wrong with that) but cleaning up later is good, allowing you to focus both your attention and your spending on your set of key cards.  So, again supposing you don't need every ounce of credit to support utilization, close whichever card(s) outside your four aren't carrying their weight....

Message 5 of 6
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New Contributor

Re: Balancing usage on all of my credit cards? I think I have too many...

I might give Cap1 a call and check that out. I've always had terrible customer service experiences with them. Smiley Sad I also got my credit line upgraded a month ago from $750 to $1250, which was apparently the best they could offer. I've had the card for 2 years now.

 

I always thought keeping a useless account open was better than closing it; that's the only reason I leave mine alone. So it would be better to just wipe them off the slate? I have some store cards that are just a waste of space--American Eagle, Abercrombie, Amazon (I literally never use Amazon), Kay Jewelers... 


From left to right: NPSL; $10k; $6.2k; $4.5k; $4k; $3.5k; $2.75k; $2.3k
Other CCs: $2.5k American Eagle Visa, $2.2k Old Navy Visa, $1.7k Amazon Store; $1.55k BillMeLater; $800 B&N CC; $750 A&F CC
Message 6 of 6