Closing Credit Card

[Det-G]

I have 3 CC with $300 cl on 2 and $250 on another. The card with the $250 cl I only had for about 6 months. I want to know if its wise to close the account that I had for the least time for a secure card with 1000-1500 cl.

[llecs]

Is it possible to keep all of your cards open and apply for the secured CC too? Are you paying any fees to keep it open?

[moondog7324]

 If you plan on getting the secured card with the $1000- $1500 Credit limit- I siggest you get the card first, then make a decision. Things to consider:

1. Are you paying fees- if yes, I would weed them out after you get the secured card

2. Having cards with low credit Limits wreks havoc on Utilization

3. You may see a decrease in FICO scores because you are closing older cards- personally I think it is worth it in the long run, if they are fee cards.

4. Think long term- I think after a good year with that secured card, you may start seeing offers in the 1,000 + range

[Det-G]

All three card are charging me fees. Are you saying close all three cards after geting the secure card and about how much will my credit drop if I close the 1 or 3 cards.