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Finallyyyyyy I was approved by Citi for the Thank You card with a CL of 8K! This is my biggest CL yet! But aside from all the excitement, I need your help/opinion on what I should do with some of my cards that are in the sock drawer. I currently have:
Zales: 500CL/0 balance
Chase: 300CL/0 balance
Cap 1: 500 CL/0 balance
Amex Zync
Macys: 1500CL/95.00 balance
Banana: 5000 CL/ 1700 balance
BOA: 1000 CL/ 0 balance
Discover More: 4000CL/0 balance
My Zales, Chase, and Cap1 all are my longest active cards in my history. But, they also are my smallest limits and really just collecting dust. I really do not want to have 9 accounts to my name so I am thinking of cancelling 1-3 cards. Which ones should I close? Also, will closing cards all at the same time hurt my credit at all?
Thanks for everyones advice in advance!
Ps..the order that I listed my CCs in is the order that I received them. Top CC (Zales) has the longest history.
Dump Cap One and Chase. I would keep Zales only for the history.
Why is Chase holding you hostage at $300?
I'd be interested in knowing how long you have had the cards as well. Citi just declined me for inquiries (forget that I was auto loan shopping) and new accounts.
@lovinlifeinkc wrote:I'd be interested in knowing how long you have had the cards as well. Citi just declined me for inquiries (forget that I was auto loan shopping) and new accounts.
Cap 1 - 10/2007
Chase - 5/2007
Zales - 6/2007
Amex - 5/10
Macys - 8/10
Banana Rep - 3/11
BOA - 10/2011
Do any of them have annual fees?
You might want to keep one of the ones from 2007 for history. I think just one should be enough. And yes, if any have an annual fee I would surely sing good riddance to that one!
Congrats on the Citi.
@lovinlifeinkc wrote:You might want to keep one of the ones from 2007 for history. I think just one should be enough. And yes, if any have an annual fee I would surely sing good riddance to that one!
Congrats on the Citi.
Ideally, Id like to take out 3. Cap 1 seems like the it will be the first casualty. It has an AF of $39 every year. After Cap 1, should I cancel the chase or Zales? Also, should I cancel another card like Macys or BOA?
Always cancel a department store card over a prime card. Bye Bye Macy's. Plus, you can use BOA at Macy's, DIllards, Penny's, Kohls, Walmart......see the point?
@lovinlifeinkc wrote:Always cancel a department store card over a prime card. Bye Bye Macy's. Plus, you can use BOA at Macy's, DIllards, Penny's, Kohls, Walmart......see the point?
Uhh utilization ratio and AAoA. I would never close any of the OPs cards before closing the AF cards.