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Closing cards with high credit lines

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Anonymous
Not applicable

Closing cards with high credit lines

We have decided it is seriously time to start purging. Any else have closing cards with high credit lines? We just closed an airline card with a 12,000 limit. I didn't bother trying to PC it, why keep another card that I to worry about charging every couple of months? I did have a hard time closing though. Not gonna lie.
Message 1 of 21
20 REPLIES 20
bourgogne
Valued Contributor

Re: Closing cards with high credit lines


@Anonymous wrote:
We have decided it is seriously time to start purging. Any else have closing cards with high credit lines? We just closed an airline card with a 12,000 limit. I didn't bother trying to PC it, why keep another card that I to worry about charging every couple of months? I did have a hard time closing though. Not gonna lie.

sorry, you worry about what, keeping a card alive?  why not just sd them and let nature takes it course

Message 2 of 21
Anonymous
Not applicable

Re: Closing cards with high credit lines

Because it has an AF, I'm not going to pay an AF for a card that I no longer use.
Message 3 of 21
longtimelurker
Epic Contributor

Re: Closing cards with high credit lines


@Anonymous wrote:
Because it has an AF, I'm not going to pay an AF for a card that I no longer use.

Right, some years back I closed a Citi AA card with a $30K limit as I couldn't justify the AF  (didn't know then how easy it was to get it waived).    But, in general, if nothing has gone badly wrong with your credit or the economy, if you had a high CL before you can get another more useful one fairly soon

Message 4 of 21
bourgogne
Valued Contributor

Re: Closing cards with high credit lines


@Anonymous wrote:
Because it has an AF, I'm not going to pay an AF for a card that I no longer use.

ah then purge or a pc are the only actions I suppose.  shows how everyone is really in a different spot on this board, there are many people that would pay 4x that fee to have a 12K cl

Message 5 of 21
bourgogne
Valued Contributor

Re: Closing cards with high credit lines


@longtimelurker wrote:

@Anonymous wrote:
Because it has an AF, I'm not going to pay an AF for a card that I no longer use.

Right, some years back I closed a Citi AA card with a $30K limit as I couldn't justify the AF  (didn't know then how easy it was to get it waived).    But, in general, if nothing has gone badly wrong with your credit or the economy, if you had a high CL before you can get another more useful one fairly soon


you are very lucky to be able to close such a <cl card without thinking about it.  luck is not the right word but you get my drift.  for myself and many others one has to pay for credit, either in the way of fees or higher apr on a car lease, etc.  great that you played this game the right way and that you have choices that many only dream about

Message 6 of 21
Gmood1
Super Contributor

Re: Closing cards with high credit lines

I've closed one $15,000 card and two $18,000 in the last two months. I was able to transfer some of those limits. I lost a little in the transfers.
Message 7 of 21
Anonymous
Not applicable

Re: Closing cards with high credit lines

I really liked having that credif line and wouldn't have closed it if there wasn't an AF. I also liked the idea of having an emergency BT card but it is Barclays. It is really time to start trimming the fat.
Message 8 of 21
longtimelurker
Epic Contributor

Re: Closing cards with high credit lines


@omfgpart2 wrote:

@longtimelurker wrote:

@Anonymous wrote:
Because it has an AF, I'm not going to pay an AF for a card that I no longer use.

Right, some years back I closed a Citi AA card with a $30K limit as I couldn't justify the AF  (didn't know then how easy it was to get it waived).    But, in general, if nothing has gone badly wrong with your credit or the economy, if you had a high CL before you can get another more useful one fairly soon


you are very lucky to be able to close such a <cl card without thinking about it.  luck is not the right word but you get my drift.  for myself and many others one has to pay for credit, either in the way of fees or higher apr on a car lease, etc.  great that you played this game the right way and that you have choices that many only dream about


Not sure how unusual it is though.   While there are a lot of new rebuilders here, you see a lot of posters listing total CL in their sigs, often way above $100K  Losing say 20% of that isn't that big a hit if you PIF anyway

Message 9 of 21
Anonymous
Not applicable

Re: Closing cards with high credit lines

Right, I've gotten a lot of increases this year and my score hasn't drastically changed in the last 8 months. I'm in between 740-780. Also combined my capital one accounts and I lost my first account.
Message 10 of 21
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