Do I have too many open CC's-Should I close some?

[Rhaeny]

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@09Lexie wrote:
I say, if there is no AF let nature take its course. If you frequent the stores at all then they will serve their purpose. They'll either age off and close on their own with inactivity.

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Yea you're right.  But you know, we sometimes judge ourselves harder than we judge others.  And as I started putting these accounts in a spreadsheet and actually looking at what I did I kinda got a little remorseful because some of those I really didn't need.  But the addiction to "APPROVED!" was just too strong!

[09Lexie]

True but some of those cc's got you were you are today.
Just remember when you are thinking of your next spree...'do I really need this cc?'

[Ron1]

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@Rhaeny wrote:

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@Ron1 wrote:

Why do you want to close them? I got more accounts than you.  I use them once a year. It doesn't cost to keep it open.

You got a good collection of cards.

Ron.

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Oh wow, you have more than that?  Hmmm well okay then I don't feel so bad now .  I just thought to myself, dang it!, what have I done?  Is this going to stop say Discover and Barclays from giving me CLI's?  I mean I was opening CC's seems like every month.  Did you see those open dates?  Anyway my util is 8% so I am keeping it low to thwart off any AA.  

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Yes, I got more than you. I got those accounts long time ago.  You did good. You got 17 accounts less than a year.  You broke my record.  I know Barclays doesn't like too many recent opening accounts. It might trigger AA. Discover doesn't like grant any CLI. Don't worry.  They're going close my accounts first. Closing accounts maight hurt your scores.

Some creditors might not grant you credit because too many opening accounts like me. There is nothing you can do. Don't close it.

Ron.

[MovingForward_2012]

I would take a second look at the department store cards. Think about how much you use them and do they offer a benefit for using them? Rank them like that and axe 2 or 3 if you really want to slim down your revolving portfolio. If not, just SD the least beneficial cards. Your non store line up looks good as is.

[Rhaeny]

Thanks all for the advice.  I'll just let them hang out open a little while longer to see if the store cards, specifically the commenity group, give me a CLI by the end of the year.  If not maybe I will axe about 3 of them.  And yea Lexie a home improvement CC may suit me as well, probably Lowes I will try next year.  By that time my accounts should have seasoned a bit more and I can get a decent limit.

[Sevenfeet]

The last thing I need to be doing is lecturing anyone on "do you have too many cards?". especially since I've gone from 3 cards to 9 cards since January.  But I guess the question you should be asking is "Does this card serve a purpose in my budget?"  If so, it stays.  If not, well maybe it should be discontinued or changed.

[SCoach]

For me,

I don't want a lot of cards and never will have many.  In fact, I have more than I want now and will probably close one or two.  The purposes for my cards are to earn flyer miles so I can take discounted vacations every year.  The more cards you have, the harder it is to do that.  Especially if they are going into different programs.  By concentrating nearly ALL my spending going to AmEx Member Rewards, or Chase Ultimate Rewards, I am able to work toward my goals all year.  I am quickly closing in on 250,000 flyer miles. That should be enough to get me around the world.

Some people simply want discounts where they shop.  If so, then I guess having a bunch of store cards makes sense.  Some people want cash back, of so then having a mix of cards that work to that goal make sense.  No one here knows your purpose or goals.  So only you can define if you are moving toward where you want to be.  

I do see the phenomenon here on MyFICO that you seem to touched on.  People who have bad credit, tend to get card after card once their credit comes back.  Eventually, they get so many it becomes a chore just keeping up with it all.  I rebuilt my credit with a single card.  It was easy to manage and got me a very positive relationship with the bank (Chase in my case).  

Different approaches, but the way I did it seems to be VERY unpopular on sites like this.  Everyone wants a bunch of cards "right now".  Then they don't want to close them because of AAoA issues and get caught trying to figure out how to spend something on them every few months just to keep them open.

Best of luck no matter how you choose to proceed.

[BearsAndTurtlesRtheBest]

I say why not hit 20 cc's?? You know make it an even number? hahha JK. They have no AF I say keep them and apply for your dream cards and hopefully that will make you feel more satisfied? IDK I just want a card of my own!!! Wish I had at least 1 cc under my name. -_-

[primechicken]

I too have a lot of CCs opened in the last year. I wondered about closing some that I don't use or that don't seem to fit with the rest. Honestly, I think my impulse to do so may even be rooted in certain OCD tendencies to make everything look 'just right'.

Rather than close out any cards, why not just pick out the three or four (or whatever number; less is better) that you would really like to have and use, and that suit your needs, and use only those cards? That way you get to keep all the benefits of having the other cards open without the hassle of managing those accounts. It's a pared down approach amidst the excess that requires no closing, just smart, simplified consolidation.