Credit Cards

[Razeus]

My total CL's with all current cards is $5700, which includes my 2 VISA's of $1800 and the rest of it is department store cards (it seems department store cards are easy to get).

I've recently got approvals for better CC's for a total of $16,000 with Discover, AMEX and Chase, obviously exceeding my current line up.

Here are the department store cards:

Best Buy (CapOne, 10+ years, $1500 CL) - 0% financing, but I have all the appliances and electronics I need at my age, perhaps another TV for the home one day.

Firestone (CFNA, 7+years, $900 CL) - 0% financing when I or the wife need new tires, but they are overpriced, best if I shop around and just use my savings

Jared's (unknown, 8 months, $1500 CL) - used this once to help pay for an engagement ring, don't see myself using this card again

For my current Visa's, I know I'll be closing down Cap One due to the annual fee they continue to charge me and somehow can't "upgrade" me to a different card without a HP on a new app.  

Any thoughts are suggestions about outright cancelling these 3 cards?

[jsickz32]

If they dont have any afs just SD them, they are not hurting you. Close the cap1 one since it has an af and you dont use

[Razeus]

Help me with acronyms.  SD?  I don't want to run in the situation where i have too much credit available to me, that's why I'm asking about closing.

[mmmagique]

SD= sock drawer. Just put them away and use them once a year or so for a small purchase. Lots of store cards are good about growing with you and don't generally have an annual fee.

[Creditaddict]

SD = Sock Drawer

What you should do is log onto Best Buy and ask for a CLI (Should be instant and SP = Soft Pull)

Best Buy Store Card is very good about CLI every 6 months as long as you are not on B plan, which I don't think B even goes to $1500 so you must be A!

[webhopper]

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Razeus wrote:

My total CL's with all current cards is $5700, which includes my 2 VISA's of $1800 and the rest of it is department store cards (it seems department store cards are easy to get).

I've recently got approvals for better CC's for a total of $16,000 with Discover, AMEX and Chase, obviously exceeding my current line up.

Here are the department store cards:

Best Buy (CapOne, 10+ years, $1500 CL) - 0% financing, but I have all the appliances and electronics I need at my age, perhaps another TV for the home one day.

Firestone (CFNA, 7+years, $900 CL) - 0% financing when I or the wife need new tires, but they are overpriced, best if I shop around and just use my savings

Jared's (unknown, 8 months, $1500 CL) - used this once to help pay for an engagement ring, don't see myself using this card again

For my current Visa's, I know I'll be closing down Cap One due to the annual fee they continue to charge me and somehow can't "upgrade" me to a different card without a HP on a new app.  

Any thoughts are suggestions about outright cancelling these 3 cards?

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I would keep everything open and install the cards in your sock drawer...  If you do decide to close cards, I would definately keep the firestone account open, do not close the Firestone account.

Does your Best Buy card have an annual fee?  If it does, I would call and see if you can upgrade or dowgrade to a non-annual fee card.

[webhopper]

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webhopper wrote:

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Razeus wrote:

My total CL's with all current cards is $5700, which includes my 2 VISA's of $1800 and the rest of it is department store cards (it seems department store cards are easy to get).

I've recently got approvals for better CC's for a total of $16,000 with Discover, AMEX and Chase, obviously exceeding my current line up.

Here are the department store cards:

Best Buy (CapOne, 10+ years, $1500 CL) - 0% financing, but I have all the appliances and electronics I need at my age, perhaps another TV for the home one day.

Firestone (CFNA, 7+years, $900 CL) - 0% financing when I or the wife need new tires, but they are overpriced, best if I shop around and just use my savings

Jared's (unknown, 8 months, $1500 CL) - used this once to help pay for an engagement ring, don't see myself using this card again

For my current Visa's, I know I'll be closing down Cap One due to the annual fee they continue to charge me and somehow can't "upgrade" me to a different card without a HP on a new app.  

Any thoughts are suggestions about outright cancelling these 3 cards?

---

I would keep everything open and install the cards in your sock drawer...  If you do decide to close cards, I would definately keep the firestone account open, do not close the Firestone account.

Does your Best Buy card have an annual fee?  If it does, I would call and see if you can upgrade or dowgrade to a non-annual fee card.

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I would personally keep the best buy card open and in your sock drawer. I use mine once per year to buy at least one christmas present or tax software. 

[Razeus]

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webhopper wrote:

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Razeus wrote:

My total CL's with all current cards is $5700, which includes my 2 VISA's of $1800 and the rest of it is department store cards (it seems department store cards are easy to get).

I've recently got approvals for better CC's for a total of $16,000 with Discover, AMEX and Chase, obviously exceeding my current line up.

Here are the department store cards:

Best Buy (CapOne, 10+ years, $1500 CL) - 0% financing, but I have all the appliances and electronics I need at my age, perhaps another TV for the home one day.

Firestone (CFNA, 7+years, $900 CL) - 0% financing when I or the wife need new tires, but they are overpriced, best if I shop around and just use my savings

Jared's (unknown, 8 months, $1500 CL) - used this once to help pay for an engagement ring, don't see myself using this card again

For my current Visa's, I know I'll be closing down Cap One due to the annual fee they continue to charge me and somehow can't "upgrade" me to a different card without a HP on a new app.  

Any thoughts are suggestions about outright cancelling these 3 cards?

---

I would keep everything open and install the cards in your sock drawer...  If you do decide to close cards, I would definately keep the firestone account open, do not close the Firestone account.

Does your Best Buy card have an annual fee?  If it does, I would call and see if you can upgrade or dowgrade to a non-annual fee card.

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Why do you say that about Firestone?

No BB doesn't charge an annual fee.

I guess I'll keep these in my SD so they can have their private party.

[Creditaddict]

You can just let Firestone sit and it will go inactive but otherwise I can't think of a good argument to keep it as other poster stated, the CL may not even be reporting and probably not going to make a real difference on your score to close or keep.