Credit Cards

[heathuhhhhwebbbb]

I have both a Jared's and Kay's cc opened and was wondering should I close the Kay's?  It seems when reporting on my credit reports, they are splitting the balance so my credit limit is less then if I just had one card open.  My Kay card is 0 balance, and Jared is about $200.  Jared is reporting with an available limit of $750ish.

Thanks in advance.

[Cadillac-XTS]

Sorry I dont have the answer to your question. If you dont mind I would like to ask you a few question. Do you recall your score when you appiled for jared and did you have any baddies? Who issued the jared card? Thanks in adavnce and I hope you get the answer to your question.

[heathuhhhhwebbbb]

I don't recall my score.  I am an AU on my ex husbands Jared card (he has a $9,000 CL) so I think when I applied for my own they MAY have taken that into account.  My credit when I applied wasn't as good as his is.  I got approved for a $1200 CL.

[heathuhhhhwebbbb]

Should I close Kays and have it reporting that my CL with Jared is $1200? or keep it how it is?

[codimom]

If they don't charge any af for Kays, just put it in the sock drawer for a while.  It  will help your utilization overall... I wouldn't close it

[heathuhhhhwebbbb]

I wasn't sure if I should close it cause then my Jared card would reflect a higher CL.  Is having two lines open better than just having one with a higher limit?  There is no AF, but I wasn't sure if having a card I haven't used is really helping me anyway.  Or would closing it have a negative impact on my score?

[wallyworld123]

how long have you had the cards?

[heathuhhhhwebbbb]

They are 1 year and 4 months old.  Both of them.

[wallyworld123]

ok it really does not make sense to have both cards since they are sister companies and you have 1 limit between the two. Normally i would not suggest closing a card but in this case i would.

[codimom]

My question is, will the company allow you to move your cl from kay to jared?  if they do that, then closing kays won't do anything.  the positive account will be on your report (good for aaoa) for 10 years.  now IF they won't combine the limits, then keep both.  You'll have the full cl available for your utilization.  Keeping both open wont' hurt anything but if they take away the kays cl, your util will be impacted.