Cutting out cards....please help.

[jamesdwi]

I work on growing all my cards limits, especially ones that grow with a SP, I see a number of cards that are SP CLI freindly, its best to grow those. Even if you really don't need the increased limits, higher limits beget higher limits, cutting small CL cards don't help you AAoA long term. Yes they stay around for 10 years, but credit is a marathon not a sprint. Personally I'm to the point where I really am not looking for higher SL's. Really who needs more than a 10k SL?   30% use is 3k, and  30% on my BCP is 4500, and they don't like it much when you cary a balance for long. 

If you really want to push starting limits apply for a Chase CSP, I recomend gardening for at least 6 months and focus on growing your other limits, call credit solutions for your paypal card and request a CLI to 10k, hopefully they will counter at something 5k or more, so you will have experience at 5k,  consider consolidating your slate and freedom card as well if you aren't using the slate card currently. If you get the CSP, you can consider the Chase Southwest card mine was approved at 2x the starting limit of my CSP card. 

[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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What is East West? That could be closed. What's up with Lord and Taylor and Belk? Do they have stores where you live? Both are comparable to Macy's and L&T has a nice limit. You could use them periodically instead of Macy's. Some people have gotten decent increases with Victoria's Secret after 9 months. Maybe get 5 pair of underwear or a bra during one of their semi annual sales to keep it active. What is the Belk limit?

What are the Dress Barn and Sony limits? How old are all of these accounts?

They are not hurting you? Maybe just chill for the rest of the year, make some nominal purchases and see where you are at. What are your current Fico scores? Are these accounts helping your utilization? 

[nursepower]

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@Anonymous wrote:

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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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That's a lot of questions. Let me try to answer some. 

What is East West? A VISA I found online when I was app crazy a year or so ago. It started at 2K, then CLI to 4K, then CLD to $400 when another company (Barclays) CLD me. That could be closed. What's up with Lord and Taylor and Belk? Do they have stores where you live? Lord and Taylor has a store where I live. Belk does not.  Both are comparable to Macy's and L&T has a nice limit. You could use them periodically instead of Macy's. Some people have gotten decent increases with Victoria's Secret after 9 months. Maybe get 5 pair of underwear or a bra during one of their semi annual sales to keep it active. What is the Belk limit? $600

What are the Dress Barn and Sony limits? Dress Barn is $1550; Sony is $1500 How old are all of these accounts? Dress Barn 2 years old. Sony 1 year old. 

They are not hurting you? Maybe just chill for the rest of the year, make some nominal purchases and see where you are at. What are your current Fico scores? MY fico's are mid 600's. I have a ton of inquiries...most due to fall off this year. Are these accounts helping your utilization? The high limit ones are. I have quite a bit in CC debt that I am trying really hard to get rid of. Surprisingly it's less than it was and BK is NOT an option. 

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[Anonymous]

I would close the ones you have in red, plus any of the others you aren't using.