Is it ok to sock drawer?

[AvadaKedavra]

Yesterday I reached one of my major credit goals which was to get approved for an AMEX. This will officially put me in the garden for a very long time. At this point I have 9 credit cards and 1 charge card. I would like to downsize to 3 credit cards (AMEX ED, Citi TYP, and Chase Freedom) and the charge card. Is it okay to sock drawer my other cards? None of them have an AF.  Are there any downsides to this? You can hover over the cards in my siggy to see the limits.

[ezdoesit]

---

@AvadaKedavra wrote:

Yesterday I reached one of my major credit goals which was to get approved for an AMEX. This will officially put me in the garden for a very long time. At this point I have 9 credit cards and 1 charge card. I would like to downsize to 3 credit cards (AMEX ED, Citi TYP, and Chase Freedom) and the charge card. Is it okay to sock drawer my other cards? None of them have an AF.  Are there any downsides to this? You can hover over the cards in my siggy to see the limits.

---

I guess this depends on the issuer.  Some people don't like you close cards that have no AF.  My attitude is if I don't plan on using it then why do I need to have it. 

I would say if you decide to SD I would not totally SD it,  just put a small purchase on it every few months and then pay off before statement cuts way you keep the account active.

[AvadaKedavra]

---

@ezdoesit wrote:

---

@AvadaKedavra wrote:

Yesterday I reached one of my major credit goals which was to get approved for an AMEX. This will officially put me in the garden for a very long time. At this point I have 9 credit cards and 1 charge card. I would like to downsize to 3 credit cards (AMEX ED, Citi TYP, and Chase Freedom) and the charge card. Is it okay to sock drawer my other cards? None of them have an AF.  Are there any downsides to this? You can hover over the cards in my siggy to see the limits.

---

I guess this depends on the issuer.  Some people don't like you close cards that have no AF.  My attitude is if I don't plan on using it then why do I need to have it. 

I would say if you decide to SD I would not totally SD it,  just put a small purchase on it every few months and then pay off before statement cuts way you keep the account active.

---

I don't want to close them completely because I don't want to hurt my AAoA as the majority of my accounts are new and the ones im SDing are older/rebuilders. Also since my limits aren't that high, I don't want to bring my overall CL.

[mongstradamus]

---

@AvadaKedavra wrote:

---

@ezdoesit wrote:

---

@AvadaKedavra wrote:

Yesterday I reached one of my major credit goals which was to get approved for an AMEX. This will officially put me in the garden for a very long time. At this point I have 9 credit cards and 1 charge card. I would like to downsize to 3 credit cards (AMEX ED, Citi TYP, and Chase Freedom) and the charge card. Is it okay to sock drawer my other cards? None of them have an AF.  Are there any downsides to this? You can hover over the cards in my siggy to see the limits.

---

I guess this depends on the issuer.  Some people don't like you close cards that have no AF.  My attitude is if I don't plan on using it then why do I need to have it. 

I would say if you decide to SD I would not totally SD it,  just put a small purchase on it every few months and then pay off before statement cuts way you keep the account active.

---

I don't want to close them completely because I don't want to hurt my AAoA as the majority of my accounts are new and the ones im SDing are older/rebuilders. Also since my limits aren't that high, I don't want to bring my overall CL.

---

Just so you know if you do close them say today, they will still be on your credit report for ten years, so AAOA will not be immediately effected. 

[iCoop]

I SD all my  cards except for the three main ones I keep in my wallet. Sometimes I put a small charge on the ones in the SD and sometimes I don't. If the bank closes the card it's no hard feelings because I didn't use the card. Kay's just recently closed a card I had with them because I only used it once to purchase a ring.

I have AmEx but they will not increase my CL above $2500 on my Blue Cash card so it's in the SD. I use my Chase IHG ($12.8K CL), CSP ($12K CL), and NFCU CashRewards ($20K CL) on an everyday basis.

[AvadaKedavra]

---

@iCoop wrote:

I SD all my  cards except for the three main ones I keep in my wallet. Sometimes I put a small charge on the ones in the SD and sometimes I don't. If the bank closes the card it's no hard feelings because I didn't use the card. Kay's just recently closed a card I had with them because I only used it once to purchase a ring.

I have AmEx but they will not increase my CL above $2500 on my Blue Cash card so it's in the SD. I use my Chase IHG ($12.8K CL), CSP ($12K CL), and NFCU CashRewards ($20K CL) on an everyday basis.

---

Thanks for the info. How long did it take for Kay to close the account? Also, how long have you had your Amex Blue Cash? What are the reasons for their CLI denial if you don't mind me asking. My ED is starting at a low limit (1k) and I'm hoping for the 61 day x3 CLI.

[Chaselover]

I wud suggest not closing it if theres no AF. I think SDing a with few purchases a good option. Ur util wil go up even tho ur aaoa wont hurt.

[Jerry45]

Excellent advice.    If you can , put $5 on each of them a month, and keep building payment history and maybe get some more CLI's.

[eddie84]

I have a card that I pull out once a year to use it for something and then SD it again.   It doesn't have annual fee but I got it since 1999.

[Jaylima91]

OP, this may be irrelevant to your post but if I may ask, how old was your oldest TL and what was your AAoA when you were approved for the Amex charge card?