Cutting out cards....please help.

[nursepower]

I currently have:

Overstock - SCT; keep

East West - PIF; $400 CL ?

VS - SCT; barely if ever use ?

Playstation Visa - keep

Quicksilver -keep

Apple Visa - $500 limit; but Barclays ?

Belk - rarely use ?

Merrick - keep

B of A - keep

Target - Don't need but get 5% and oldest trade line. ?

Chase Freedom -keep

Kohl’s - keep

TD Visa -keep

Sears MC-keep

Barclays Rewards -keep

Old Navy Visa -keep

Dillards amex -keep

Best Buy -keep

*Sony Card -never used ?

Dress Barn - use every once in awhile, but not needed ?

Sams -keep

Macy’s -keep

Home Depot -keep; good promos

*Lord & Taylor -rarely use CL $2250

*Brooks Brothers -Rarely use CL $2350

Chase Slate -keep

AEO Visa -keep

*Shop HQ -just closed

TJ Maxx Mastercard -keep

Toys R Us -keep

Amazon -keep

JCP -keep

Wal-Mart -keep

Discover -keep

AMEX -keep

*Kay’s Jeweler - keep

Ebates -keep

PayPal MC -keep

So for the one's in red....what do you think?

[jamesdwi]

If they have no AF, keep them open unless you can think of a good reason to close. 

Closed cards report for 10 years, but open cards report for 10 years after they are closed which can be 2-3 years after the last use, some will hang around even longer. 

[nursepower]

Ok...But will all those cards prevent me from gettting increases or other cards due to too much credit?

[jamesdwi]

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@nursepower wrote:

Ok...But will all those cards prevent me from gettting increases or other cards due to too much credit?

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has anyone came out and told you that?  I have 31 cards, over 200k in availible CL, no one has ever said that to me, It is only rumored to occur during a home purchase , but if that happens you can close out some cards then, at least its for a good cause. I have multiple GE cards with 10k limits, Chase gave me a 10k CSP, and a 20k southwest card, AMEX has given me a CLI to 15k no issues. Just let them age, don't apply for more than 2 cards every 6months and you will be fine. 

[Anonymous]

I have 21 but not as many store cards.  I'm starting to get better SL's now since I closed my smaller CL's.  Ritz is the largest yeat at 27k SL.   I would snip a few and go after some bigger, better cards.  Wash, rinse, repeat. 

[Anonymous]

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@jamesdwi wrote:

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@nursepower wrote:

Ok...But will all those cards prevent me from gettting increases or other cards due to too much credit?

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has anyone came out and told you that?  I have 31 cards, over 200k in availible CL, no one has ever said that to me, It is only rumored to occur during a home purchase , but if that happens you can close out some cards then, at least its for a good cause. I have multiple GE cards with 10k limits, Chase gave me a 10k CSP, and a 20k southwest card, AMEX has given me a CLI to 15k no issues. Just let them age, don't apply for more than 2 cards every 6months and you will be fine. 

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I have 21 but not as many store cards.  I'm starting to get better SL's now since I closed my smaller CL's.  Ritz is the largest yeat at 27k SL.   I would snip a few and go after some bigger, better cards.  Wash, rinse, repeat. 

[Anonymous]

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@Anonymous wrote:

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@jamesdwi wrote:

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@nursepower wrote:

Ok...But will all those cards prevent me from gettting increases or other cards due to too much credit?

---

has anyone came out and told you that?  I have 31 cards, over 200k in availible CL, no one has ever said that to me, It is only rumored to occur during a home purchase , but if that happens you can close out some cards then, at least its for a good cause. I have multiple GE cards with 10k limits, Chase gave me a 10k CSP, and a 20k southwest card, AMEX has given me a CLI to 15k no issues. Just let them age, don't apply for more than 2 cards every 6months and you will be fine. 

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I have 21 but not as many store cards.  I'm starting to get better SL's now since I closed my smaller CL's.  Ritz is the largest yeat at 27k SL.   I would snip a few and go after some bigger, better cards.  Wash, rinse, repeat. 

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It's possible that you started getting better SLs once you've proven that you could handle the limits you previously had.

Correlation =/= causation. 

With that said, it's certainly a possibility that closing out smaller  line cards helped you get higher SLs.

[CreditCuriosity]

Good start on the pruning.  People have different thoughts on this board if not AF then keep and others think if you don't use then close.. I am of the opinion to much credit is a bad thing and can possibly hinder futher approvals of a card that might be more useful..  So I tend to close stuff after awhile or things that have served there purpose.

[CreditCuriosity]

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@Anonymous wrote:

I have 21 but not as many store cards.  I'm starting to get better SL's now since I closed my smaller CL's.  Ritz is the largest yeat at 27k SL.   I would snip a few and go after some bigger, better cards.  Wash, rinse, repeat. 

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^+1

[Anonymous]

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@nursepower wrote:

I currently have:

Overstock - SCT; keep

East West - PIF; $400 CL ?

VS - SCT; barely if ever use ?

Playstation Visa - keep

Quicksilver -keep

Apple Visa - $500 limit; but Barclays ?

Belk - rarely use ?

Merrick - keep

B of A - keep

Target - Don't need but get 5% and oldest trade line. ?

Chase Freedom -keep

Kohl’s - keep

TD Visa -keep

Sears MC-keep

Barclays Rewards -keep

Old Navy Visa -keep

Dillards amex -keep

Best Buy -keep

*Sony Card -never used ?

Dress Barn - use every once in awhile, but not needed ?

Sams -keep

Macy’s -keep

Home Depot -keep; good promos

*Lord & Taylor -rarely use CL $2250

*Brooks Brothers -Rarely use CL $2350

Chase Slate -keep

AEO Visa -keep

*Shop HQ -just closed

TJ Maxx Mastercard -keep

Toys R Us -keep

Amazon -keep

JCP -keep

Wal-Mart -keep

Discover -keep

AMEX -keep

*Kay’s Jeweler - keep

Ebates -keep

PayPal MC -keep

So for the one's in red....what do you think?

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I agree with your assessment except I like being in with barclays so maybe i would keep that one and get rid of another store card instead. I closed out store cards with small credit lines and my scores went up so I feel like there is some type of correlation with that. I also felt like for me personally store cards encourage me to spend more "to keep them active" but maybe thats just a personal problem that I have  My goal is to get rid of all my store cards once I finish getting my utilization under control.