Credit Cards

[Skins2311]

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.

[lovinlifeinkc]

Dump Cap One and Chase.  I would keep Zales only for the history.

Why is Chase holding you hostage at $300?

[2NE1]

doesn't it depend on which CCs have an AF?

why not SD the small limit cards for awhile if you don't pay AF? you haven't mentioned how long you have them.

[lovinlifeinkc]

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. 

[Skins2311]

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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. 

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Cap 1 - 10/2007

Chase - 5/2007

Zales - 6/2007

Amex - 5/10

Macys - 8/10

Banana Rep - 3/11

BOA - 10/2011

[SwiftTone]

Do any of them have annual fees?

[lovinlifeinkc]

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.

[Skins2311]

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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.

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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? 

[lovinlifeinkc]

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? 

[Crashem]

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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? 

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Uhh utilization ratio and AAoA.  I would never close any of the OPs cards before closing the AF cards.