Should I drop the following cards...

[Pilotdude]

Right now I am on the verge of paying down ALL of my cards as the last and final step of my credit repair.

No baddies at all now.

FICO 690 with high utilization so pay offs/downs should raise that score significantly.

AAoA 2.1 years

I am an Authorized user on wife's:

Amex Green (Keeping)

Discover   (Keeping)

Cap One Platinum (Keeping though might remove myself as Authorized User, I dunno yet)

Cap One Best Buy Master Card (undecided only has a 300 limit)

I have on my own credit:

Cap One Cash Rewards (750 limit  keeping I think)

Credit One (500 limit) <<<This is the one I am most on the fence about.

As you can see, none of my balances amount to a whole heck of a lot.  My plan is to pay them all down to total under 5% utilization combined.

BUT...I don't want to put myself in a position to be penalized for having cards like Credit One or Cap One "Starters" unnecessarily.

Would it be better to get rid of the likes of?

Credit One

Cap One Best Buy

Should I stay as an Authorized user on my wife's Cap one Platinum mastercard?

I do of course plan on remaining as a Authorized User on both the Amex and the Discover (Though we will be asking Dsc and Cap one for CLIs for my wife as well)

Is there a penalty or negative effect for closing the Credit One account?  Its only about a year old....or should I wait to close anything until after I have gotten a couple prime cards?  I have next to no Hard inquiries across all three CRAs

[SpeedingWheels]

Kill the Credit One -  you don't need the AF

Keep Cap1 Cash Rewards and after it's aged a bit email the Exec Office and get a CLI. 

[lithium78]

Get rid of Credit One.  You have much better options, so there's no need to pay their ridiculous fees.

[chnceit]

^^^^^ Great advice!

[Pilotdude]

Thank you.

Gotten some good advice the past few days here.

I appreciate it mucho!!

[js0319]

+1 on Credit One. There's been a lot of success lately with the Capital One EO - and your card isn't secured so you probably won't have too much trouble there. Being an AU won't negatively affect your score, unless there's any derogatory information being reported.

[BearsAndTurtlesRtheBest]

Great credit history................OH YEAH get rid of credit one

[Pilotdude]

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@js0319 wrote:

+1 on Credit One. There's been a lot of success lately with the Capital One EO - and your card isn't secured so you probably won't have too much trouble there. Being an AU won't negatively affect your score, unless there's any derogatory information being reported.

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Nope.  No derogatory information at all.  All payments on time or early and in full.  Not one negative anywhere on any current cards.

We are going to try a simultaneous Exec Office CLI on the Cap One's as soon as they report our buy downs on the balances for my wife's Platinum Cap One and my Cash Rewards Cap One card.

I am thinking shoot for 4K limit and when they give me the "are you open to something less, I will tell them I am always open to reasonable offers"

I just don't want some credit card analyst giving me a thumbs down because I have a Credit One card in the mix.  Credit one does have high fees but they have been fair with me thus far.  They even gave me an auto CLI without my asking.  Still though, they are a "bad credit" credit card ala first prem so if it helps more then it hurts to cut them off, hasta Credit One.

[webhopper]

Get rid of credit one. Keep best buy if there are no fees.

[lithium78]

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@webhopper wrote:
Get rid of credit one. Keep best buy if there are no fees.

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Or you could keep Best Buy if they offer to refund your AF when you call to close it.  That's how mine has managed to stay open for so long.