@Anonymous wrote:
@red259 wrote:
@kdm31091 wrote:I didn't think Citi was good about combining limits but I may be thinking of someone else. Maybe I'm thinking of Capital One...lol
Citi isn't very good about combinding limts apparently. It may just be with certain cards.
They're not amazing. They'll want to do an HP.
A Hp to combine limits you already have? That is just stupid.
;
@red259 wrote:
@Anonymous wrote:
@red259 wrote:
@kdm31091 wrote:I didn't think Citi was good about combining limits but I may be thinking of someone else. Maybe I'm thinking of Capital One...lol
Citi isn't very good about combinding limts apparently. It may just be with certain cards.
They're not amazing. They'll want to do an HP.
A Hp to combine limits you already have? That is just stupid.
Agreed. Triple Freeeeeeeze 
@longtimelurker wrote:
@Closingracer99 wrote:
@kdm31091 wrote:We do go over this every day. You have a lot of accounts. I would close any that have no AF and you aren't using. There is little to no point in keeping them open just for **bleep**s and giggles. If you are not going to get a benefit out of something, why keep it? I've heard the arguments for keeping -- AAOA and util -- and they just aren't worth it, at least not in my view. I don't think not having an AF is a reason to keep a card. You aren't married to a card or lender. You can and should move on when you get cards that are better suited for you.
Move on from cards that you no longer want/need. It's simple, really. Otherwise, what's the alternative, keep every card you opened forever?
There is literally no need to close counts unless they have an AF .....they do and will util % since you have less credit available to you ......unless your going to app for 15 cards no reason to close cards ....
Of course there are reasons, hence the endless debate! Need to check for bad transactions, purchases to keep them alive (wasting rewards), potential of being told "too much available credit" etc
As I've said before, IMO reasons for keeping and reasons for closing are both very SMALL (on the keep side, it's small because a lot of cards got early on add very little util, AAoA doesn't come in for many years by which time the situation has changed and probably the scoring model etc) It also may depend where you are with credit, early on people seem to be on the keep side, later it's more OK to close.
Wasting rewards ? I buy $0.50 Amazon gift cards on Amazon with cards I'm not using and what reward will I get for spending 50 cents ?
@Jansroom726 wrote:Hello all.
I would like to reduce the amount of cards I have.
Here are my current cards:
- Amex Gold (Want to get rid of - no need for the fee) (I Plan on opening an Amex Everyday to keep points)
- Amex Delta (Would like to PC to $0 fee Hilton card)
- Chase CSP
- Chase Freedom
- Chase United Explorer
- Citi TYP
- Citi Diamond Preferred - No use anymore
- Capital One QS
- Capital One Venture
- Discover IT
- Best Buy Store
- Best Buy MC (I have no need for it - but it's my oldest card?)
- Express Store
Thoughts on the above?
Also - If I PC my Amex Delta, what happens to my delta points? Do I have to use them within a certain amount of time?
Thank you all!
AFAIK, you can't PC the AMEX Delta, unless it is to another AMEX Delta card. The Delta SkyMiles points are with your Delta SkyMiles account. It only communicates with AMEX when you have a Delta AMEX credit card. AMEX is sending those points to Delta every month when you earn new ones.
You would need to open the Hilton card and then see about transferring the CL, provided the Delta CL was properly aged.
Close the Citi Diamond Preferred. If they are going to HP you to transfer the CL, or HP to app for a new card, no point in keeping it around. I agree it is a useless card. I only keep mine because it might give me some good history with Citi later.
@takeshi74 wrote:
@Jansroom726 wrote:Should I close a few accounts?
As with every thread on this topic, use this info (linked in the Helpful Threads sticky in this subforum) and your specific needs/wants to determine your answer.
http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true
You can't rely on polling others -- especially since so many myFICO'ers will just say "keep open if no AF" while it's really up to you to determine if that approach is relevant to you. If you have specific questions we can certainly address those but we can't tell you anything meaningful with just a list of cards.
@Closingracer99 wrote:There is literally no need to close counts unless they have an AF .....they do and will util % since you have less credit available to you ......unless your going to app for 15 cards no reason to close cards ....
It's literally up to the individual to make the decision based on the individual's situation, goal, priorities and preferences. If one is concerned about utilization then one should do the math before and after to determine the impact to utilization to aid in decision making. While closing does impact utilization the impact will vary and the importance of the impact to utilization versus other considerations will vary as well.
This is not a one-size-fits-all matter and you can't simply assume that your approach universally applies to everyone. You can certainly argue for your stance on a topic but make sure you're clearly delineating between subjective and objective matters (no matter what topic you're discussing). E.g.:
There is literally no need to close counts unless they have an AF .....they do and will util % since you have less credit available to you ......unless your going to app for 15 cards no reason to close cards ....versus
I don't see a need to close any card without an AF since closing a card will increase utilization due to having less available credit.
The former statement incorrectly assumes that no one could ever have any other considerations that would weigh in on the matter. The latter indicates what your specific considerations and priorities are without trying to present them as the only factual option available.
There really isn't a need to if there is no AF . If you want to close it that is up to you exclusively but there is no reason to . The bank will close it for you if you don't use it after. A period of time . It's an open line of credit no need to close it because their is no guarantee you'll get a card you want to replace it . It doesn't harm you to keep it open and not use it. Just no need to close lines of credit imo unless you really don't feel the desire to check your account but a lot send texts or email about daily balances or big purchases .
my point was there is no actual need to close accounts but if you want to that is your choice ..