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Established Member
nissanaltimacrazyhorse
Posts: 58
Registered: ‎10-24-2011
0

Re: Help me think im good longish term

ya cap 1 blows it did its job though. I haven't even got the cabelas card yet. How i do it grocries and gas amex, cabelas will only be used there, i guess the credit union card will be used for extreme emergencys and it will help the utilization alot, ill dump cap1 as soon as i find out cabelas or when the cu card comes

chase sapphire preferred 5k
capital one venture 5k
amex blue cash preferred 2.5k
chase freedom 500
amex premier reward npsl

trans union 705 goal 750
equifax 675 goal 750

Established Member
youngmoneyok
Posts: 31
Registered: ‎08-14-2012
0

Re: Help me think im good longish term


nissanaltimacrazyhorse wrote:

ya cap 1 blows it did its job though. I haven't even got the cabelas card yet. How i do it grocries and gas amex, cabelas will only be used there, i guess the credit union card will be used for extreme emergencys and it will help the utilization alot, ill dump cap1 as soon as i find out cabelas or when the cu card comes


I am pretty against store cards in general so take my advice with a grain of salt. I think the only good "store" card is the priceline rewards visa card which offers 2% on everything you buy, but I don't think you would qualify for that at this stage. 

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Help me think im good longish term

It seems like you have a good line up! If the crap 1 cards have no fee; you might as well keep them and stick them in a sock drawer

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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MyFICO Fitness Goal: 800s Club!



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Established Member
nissanaltimacrazyhorse
Posts: 58
Registered: ‎10-24-2011
0

Re: Help me think im good longish term

crap1 has 59 fee so its a gonner, it was a nice card to rebuild sucks they dont work with you to make it grow

chase sapphire preferred 5k
capital one venture 5k
amex blue cash preferred 2.5k
chase freedom 500
amex premier reward npsl

trans union 705 goal 750
equifax 675 goal 750

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Help me think im good longish term

Yep... give it the old axe :smileyhappy:

Cap 1; its you not me; our relationship is going nowhere.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Help me think im good longish term

How long have you had your Amex and CU CC? Banks and CCs like to see at least a year or 2 of open, active tradelines reporting for at least 2 accts. If you've had your Amex and CU CC a couple of years, then I'd close the Cap Ones. But if your Amex and/or CU CC are new, I'd wait until they've both been open at least a year, preferrably 2 yrs. And this is based on advice that I got from a loan officer/underwriter at my local CU.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Member
nissanaltimacrazyhorse
Posts: 58
Registered: ‎10-24-2011
0

Re: Help me think im good longish term

amex will turn a year next month cu cc is new just got approved havent even got it yet. So maybe i should keep the cap1 for a couple more months? the annual fee is coming just a waste of money if i had to pay it.

chase sapphire preferred 5k
capital one venture 5k
amex blue cash preferred 2.5k
chase freedom 500
amex premier reward npsl

trans union 705 goal 750
equifax 675 goal 750

Frequent Contributor
Razeus
Posts: 395
Registered: ‎04-02-2012
0

Re: Help me think im good longish term

Just dump it.  The Amex and the other one will hold you for a good while.

My Wallet:
Discover It $14,300 | Chase Sapphire Preferred $7,500 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Help me think im good longish term


nissanaltimacrazyhorse wrote:

amex will turn a year next month cu cc is new just got approved havent even got it yet. So maybe i should keep the cap1 for a couple more months? the annual fee is coming just a waste of money if i had to pay it.


If you close your Cap Ones, you're only going to have one open tradeline that has been open one year. Your other open tradeline will be brand new. You're going to find it a challenge to qualify for any new (prime) CCs for at least another year. If you don't plan on apping for a year, then you'll probably be okay. But with only one 1-yr old open acct and one brand new one, most prime CCs aren't going to approve you. They really like to see at least 2 open tradelines that have been open for 1 year minimum.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Member
nissanaltimacrazyhorse
Posts: 58
Registered: ‎10-24-2011
0

Re: Help me think im good longish term

so i only have to worry about dumping the cap 1 if i want new credit? The three i have now are more than enough, i do want a amex plat but that is at least 2 years away. Ill get rid of them on tuesday no since in paying the af

chase sapphire preferred 5k
capital one venture 5k
amex blue cash preferred 2.5k
chase freedom 500
amex premier reward npsl

trans union 705 goal 750
equifax 675 goal 750


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