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Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
@patsfan1453 wrote:Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
I would have SD'd the Paypal and gotten 4 month CLI's on it.
@patsfan1453 wrote:Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
Hmm, I can understand closing down the Green, but BCE?? You're going to let the potential 3x CLIs go to waste?
@Anonymous- wrote:
@patsfan1453 wrote:Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
Hmm, I can understand closing down the Green, but BCE?? You're going to let the potential 3x CLIs go to waste?
Credit limits can be understood in two ways. Its great for those with sufficient incomes, but for low income/college students such as myself, it is a deterrent. A higher credit limit cripples my future credit limit increases to the cards I do use and chances for new credit. That's why I close off useless cards.
And it still stays on your report for "10 years" so there's really nothing to lose other than the utilization aspect.
@Anonymous- wrote:
@patsfan1453 wrote:Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
Hmm, I can understand closing down the Green, but BCE?? You're going to let the potential 3x CLIs go to waste?
Well here's the thing. I've been denied for a CLI about 4 times. Their reason? My 730 credit score is to low. I'm not going to bother chasing after them for credit when I have the CSP. They have to earn my business now not the other way around. I have options haha.
@LS2982 wrote:
@patsfan1453 wrote:Yea it may not be the spree we are used to seeing on these boards but I have to many credit cards. I just recently got the CSP and matching that with the freedom my needs are met. So I just closed my Cap 1 with a 750 limit (my oldest trade line), a Paypal Mastercard with a 1500 limit and a best buy rewards with a 1k limit. I am also going to close my Amex Green and BCE. I hate Amexs' rewards redemption and frankly I think their CSRs suck. I'm going to close the Citi Simplicity once the 18 month promo period is up. I want to trim down to about 5-6 cards and leave it at that. My util will probably go up 1% or so, so really not a big deal.
I would have SD'd the Paypal and gotten 4 month CLI's on it.
Yea I'm not to worried about it. The way I see it the less credit I have the more responsible I will be with keeping my debt down. You can convince yourself a 9% util is good until you look at it and you have 5k in debt. I make 42k a year so I dont need 30k in credit lines.
I closed a bunch of cards before I join this forum... didn't know we were supposed to leave them open. lol They were Shell, Amazon, JCP, 2x Capital Ones, Staples, Union76, Citibank, Comenity Trek card, etc.