No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Today I closed 5 cards/$28.2k in credit as follows: All zero Balances
Cabelas Visa #1- $1k (for obvious reasons, and see below)
Cabelas Visa #2- $2k (criteria for CLI is completely different than card approval, and dont care if CC division is being sold off to different lender)
BP Visa- $5k (eh, got it just because)
Paypal MC- $7k (have other 3-2-1 cards, and got it just to see if I could)
Carecredit- $13.2k (didnt use the 1st CC card I had, and I dont have a Rite Aide near me, plus no plans for Botox, or elective anything, plus I have no pets)
It didnt even touch my util, still at 1% overall, lol. Plan is to kill an additional 8-10 cards/ $100k in credit over the next 10 months (while in the garden!!!), in preparation for my Penfed/Alliant cc apps next year. Penfed UW said I needed to close some accts, and add'l credit in order for them to consider a CC. Completely reasonable! Dont blame them for saying no, and citing "excessive credit obligations". I have a ton of credit, but what Im wanting is quality of cards, not quanity of cards at this point.
So, If killing off $125k (my number, not theirs!) overall in available credit (btw, wont effect me at all util wise because I PIF everything), gives me a better chance at a better card with a better starting APR with potential for CLI in future, Ill do it! Penfed has been on my list for over a year. PF UW told me if I had no inq/new accts for 12 months, and closed some credit down, he would approve me. Challenge accepted!
Aliant denied me for "too many inq and new accts in last 12 months".....again, rightfully so! I do have a ton of INQ and new accts, and not mad at all. UW told me that they only go back 12 months on credit reports, and that my BK wasnt the denial (they have 2 yr post BK poicy), it was strictly inq and new accts. Said, also, try back after 6 months of no inq or new accts, and she would approve me. I decided to wait 12 months instead. Again, challenge accepted!
Closing down cards and available credit temporarily in order to obtain cards with much better apr's/lenders, Im good with, and has been a future goal of mine all along. The next couple of years will be a turning point for me after gardening a considerable amount of time. My reports will be changing drastically for the better.....lots of accts aging to the 2 yr mark INQ falling off, and aging to 1 yr, a few baddies falling off...etc..
So..next year should hopefully be a successful year in obtaining two of the cards I want. Those are they only cards Im looking at getting/applying for for 2017.
Everything is currently on ice, and will stay that way till some time next year, when I feel my reports and scores are ready to apply for Alliant and PF.
Well done Pizza. You are progressing quite well.
Good for you. I could not handle having more than about 10 cards (Ron and Credit Addict must think that is hilarious). I haven't even had a store or gas card in probably 20 years. You have come a long way and some pruning at the right time always leads to a better crop!
Congratulations! Well done!
Congrats !! I'll close my tenth this month. My goal is one useful card per lender.
You're going to notice that your remaining limits are going to climb!
The TCL reduction won't last long.
Seems like a good trade, a bunch of stragglers for Penfed. Good job
Amazing, simply amazing, I applaud you.
After just closing 3 cards myself in the last month, it is kind of refreshing to do so especially cards that I really won't use or need.
I strive for the 100k club but am watching my HP's with a shotgun.
@Gmood1 wrote:Congrats !! I'll close my tenth this month. My goal is one useful card per lender.
You're going to notice that your remaining limits are going to climb!
The TCL reduction won't last long.
I dont need them to climb, lol...Im trying to reduce available credit, lol... my other cards are already at respectable limits even after closing today my available credit is still $249k! , and after obtaining Alliant and Penfed next year, then I can go and get a few CLI's IF I want, depending on the limits I get with them, hahah.
Good job @Pizza1. Keeo it up.