Cancellation question

[BBCN]

Hello all,

So I recently applied for two new credit cards (BCE and Cap1 QS), or so I thought..

I was approved for the BCE instantly with a 3.5K limit to match my Citi Forward, my oldest and only other account(since 10/2012). 

After a review, I was also approved for the QS with a 3K limit. 

But this week, I received a letter and email stating that another credit card was approved and shipped from Capital One. 

I called in to discover that I sent in two applications on the same day for the QS.. 

My question is, should I cancel one card or hold onto it?People in other threads were saying Cap1 no longer consolidates and I'm assuming I won't get another sign-up bonus.

My annual income is ~40K and I now have 4 credit lines, with the three mentioned here being brand new. 

Your advice would be greatly appreciated.

Thank you! 

[09Lexie]

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@BBCN wrote:

Hello all,

So I recently applied for two new credit cards (BCE and Cap1 QS), or so I thought..

I was approved for the BCE instantly with a 3.5K limit to match my Citi Forward, my oldest and only other account(since 10/2012). 

After a review, I was also approved for the QS with a 3K limit. 

But this week, I received a letter and email stating that another credit card was approved and shipped from Capital One. 

I called in to discover that I sent in two applications on the same day for the QS.. 

My question is, should I cancel one card or hold onto it?People in other threads were saying Cap1 no longer consolidates and I'm assuming I won't get another sign-up bonus.

My annual income is ~40K and I now have 4 credit lines, with the three mentioned here being brand new. 

Your advice would be greatly appreciated.

Thank you! 

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Welcome to the forum.  I wouldn't cancel until you receive both cards.  

[BBCN]

I already received my first card and expect the second one to be here next week. 

Assuming it does arrive, would you suggest I cancel it? My AAoA is going to be very low for a while anyway. 

Would I somehow benefit by having a second card that will be for the most part inactive?

[takeshi74]

Keep this sticky in mind:

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

Should and benefit are really for you to determine.  Some would find the additional avaialble credit useful.

[PlasticOrPlastic]

Hows your util?  It could be used for padding, toss it in the sock drawer and let Cap1 close it.