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Established Member
Luis135
Posts: 28
Registered: ‎11-22-2012
0

Re: I think I might have too many credit cards...

After I close the store cards how long should I wait till I request for any CLI on any other cards? 

What are my chances of getting PC'd to It and a CLI? How long should I wait? 

Also Whats wrong with Credit one? 

Moderator
09Lexie
Posts: 26,027
Registered: ‎09-13-2012
0

Re: I think I might have too many credit cards...

First of all, closing your store cards will affect your util. Are you trying to close your cc's for better scores?
Established Member
Luis135
Posts: 28
Registered: ‎11-22-2012
0

Re: I think I might have too many credit cards...


NJTurnpike wrote:

Luis135 wrote:

Hi first post but been lurking. I love these forums:smileywink:

 

So I think I've reached a point where I have too many credit cards. I've listed the type of cards limits and dates when I got them. 

My goal is to get some CLI on some of the stronger cards and do away with some weaker cards. (Is this a good idea to close any of them?) 

Obviously I went on an app spree November 2012 which hurt my score pretty bad, and I've incurred a balance on some of these. 

I am however paying them off respectively. Im planning on buying a house here in about 2 years when alot fo these inquries go away as well.

Any suggestions? 

 

Charge Cards

AU - Amex Green - December 2012

AU - Amex Gold - February 2013 

 

Credit Cards 

Chase Sapphire   $5,000   November 2012 

BankAmeriCard Platinum Visa $1,000 October 2010 

Discover Cashbook Bonus  $1,000 November 2012 

Capital One Journey $750 Augusts 2011 

Capital One Cash Rewards MC $500 November 2012

Citi  Thankyou $500 November 2012 

Creditone Bank $500 October 2011 

 

Store Cards 

Walmart  $900 November 2012 

Gap $400 November 2012 

Target $300 November 2012 

Macys $300 November 2012 

Dillars $600 November 2012 

The Home Depot $500 November 2012 

Lowe's $500 November 2012 

Express $250 July 2012 

 


I woud recommend gettting rid of all the store cards except maybe walmart. CreditOne get rid of for sure and Capital one journey. Then email EO for cap1 and ask for a CLI on the other cap1 card. Get your discover PC'd to Discover IT and ask for a CLI along the way.

 

Once your other creditors are able to see on your report the store cards are closed, they may be more inclined to give you CLI's. those store cards really are useless. the spend that you might put on them would be better put on a card that gives you decent rewards, of which you have a few.



NJTurnpike wrote:

Luis135 wrote:

Hi first post but been lurking. I love these forums:smileywink:

 

So I think I've reached a point where I have too many credit cards. I've listed the type of cards limits and dates when I got them. 

My goal is to get some CLI on some of the stronger cards and do away with some weaker cards. (Is this a good idea to close any of them?) 

Obviously I went on an app spree November 2012 which hurt my score pretty bad, and I've incurred a balance on some of these. 

I am however paying them off respectively. Im planning on buying a house here in about 2 years when alot fo these inquries go away as well.

Any suggestions? 

 

Charge Cards

AU - Amex Green - December 2012

AU - Amex Gold - February 2013 

 

Credit Cards 

Chase Sapphire   $5,000   November 2012 

BankAmeriCard Platinum Visa $1,000 October 2010 

Discover Cashbook Bonus  $1,000 November 2012 

Capital One Journey $750 Augusts 2011 

Capital One Cash Rewards MC $500 November 2012

Citi  Thankyou $500 November 2012 

Creditone Bank $500 October 2011 

 

Store Cards 

Walmart  $900 November 2012 

Gap $400 November 2012 

Target $300 November 2012 

Macys $300 November 2012 

Dillars $600 November 2012 

The Home Depot $500 November 2012 

Lowe's $500 November 2012 

Express $250 July 2012 

 


I woud recommend gettting rid of all the store cards except maybe walmart. CreditOne get rid of for sure and Capital one journey. Then email EO for cap1 and ask for a CLI on the other cap1 card. Get your discover PC'd to Discover IT and ask for a CLI along the way.

 

Once your other creditors are able to see on your report the store cards are closed, they may be more inclined to give you CLI's. those store cards really are useless. the spend that you might put on them would be better put on a card that gives you decent rewards, of which you have a few.


After I close the store cards how long should I wait till I request for any CLI on any other cards? 

What are my chances of getting PC'd to It and a CLI? How long should I wait? 

Also Whats wrong with Credit one?

Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: I think I might have too many credit cards...

Credit One the last I saw had an APR of 24.9% and annual fee of $99 billed $8.25 per month.

Or is your card?

*8/10/13
Established Member
Luis135
Posts: 28
Registered: ‎11-22-2012
0

Re: I think I might have too many credit cards...


dodfire wrote:

Credit One the last I saw had an APR of 24.9% and annual fee of $99 billed $8.25 per month.

Or is your card?


Yeahh.. I should probably close that one after all lol. 

Established Member
Luis135
Posts: 28
Registered: ‎11-22-2012
0

Re: I think I might have too many credit cards...


09Lexie wrote:
First of all, closing your store cards will affect your util. Are you trying to close your cc's for better scores?

Yes would closing the store cards help my credit profile any? 

Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
0

Re: I think I might have too many credit cards...

DONT TOSS capital one journey; that was BAD advice. DO TOSS credit one. and toss walmart and home depot because those are bad companies to do business with. keep the closed walmart card for the free fico score.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: I think I might have too many credit cards...


Luis135 wrote:

09Lexie wrote:
First of all, closing your store cards will affect your util. Are you trying to close your cc's for better scores?

Yes would closing the store cards help my credit profile any? 


Again, as several people have asked you. What is your GOAL?

Closing them can help you or it can hurt you depending on what you are trying to do and what your spending / payment habits are.

*8/10/13
Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: I think I might have too many credit cards...


scottwagnon wrote:

DONT TOSS capital one journey; that was BAD advice. DO TOSS credit one. and toss walmart and home depot because those are bad companies to do business with. keep the closed walmart card for the free fico score.


WHAT?????????????

Im sorry but I must disagree with this.

 

*8/10/13
Established Member
Luis135
Posts: 28
Registered: ‎11-22-2012
0

Re: I think I might have too many credit cards...


dodfire wrote:

Luis135 wrote:

09Lexie wrote:
First of all, closing your store cards will affect your util. Are you trying to close your cc's for better scores?

Yes would closing the store cards help my credit profile any? 


Again, as several people have asked you. What is your GOAL?

Closing them can help you or it can hurt you depending on what you are trying to do and what your spending / payment habits are.


Well I would basically like to get some CLI on some of the stronger cards I have.

Also I am planning on buying a home in 2 years. 

Finally I would also like to get at least one Amex revolving card

Those are my goals. 

Would closing any store cards do any good? 


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